Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.007%

Price spread now: MEXC against Pacifica+0.054%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$120.123% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.054%, 7d avg −0.024%

Together, before fees−0.106%+ Points / potential airdropPacifica: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.078% dearer against Pacifica than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.024%): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BTC	85,775.8	0.0100	pay 0.0013% / 1h	44m 09s	$40.9M	$569.6M	50x
Short	MEXC BTC_USDT	85,822.1	0.0088	get 0.0088% / 8h	6h 44m	$5.11B	$5.67B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee MEXCbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$2.52
Price spread: +0.054% → −0.024%: $7.75
Slippage, 4 orders: −$0.28
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$7.05
Costs to cover: 0.123%
Break-even: never at this rate

Slippage from Pacifica: live order book, 10 min ago; MEXC: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 10 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell MEXC live order book, 10 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$201	2.2 bp −$1,090

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	−0.0144%	1h	85,767	−0.010%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,777	+0.001%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.090%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,771.9	−0.004%	$364K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,774.5	−0.002%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,776.8	+0.001%	$512K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,814.8	+0.046%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.040%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,792.5	+0.019%	$497.5M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	85,807.1	+0.036%	$894.8M	$757.3M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,770.5	−0.006%	$8.1M	$42.6M	25x	as long as short
BingX BTC-USDC	+0.0053%	8h	85,804.2	+0.033%	—	$15.4M	—	as long as short
Reya BTCRUSDPERP	+0.0054%	1h	85,754.5	−0.025%	$6.7M	$146.1M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,807.7	+0.037%	$2.95B	$5.14B	150x	as long as short
ApeX Omni BTCUSDT	+0.0076%	1h	85,808.2	+0.038%	$140.3M	$320.9M	100x	as long as short
HTX BTC-USDT	+0.0077%	8h	85,806.3	+0.036%	$2.28B	$969.3M	200x	as long as short
Nado BTC-PERP	+0.0079%	1h	85,769.9	−0.007%	$22.8M	$229.3M	50x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,823.2	+0.055%	$9.34B	$24.58B	150x	as long as short
MEXC BTC_USDTshort	+0.0088%	8h	85,822.1	+0.054%	$5.11B	$5.67B	500x
Aevo BTC-PERP	+0.0088%	1h	85,816	+0.047%	$2.5M	$1.8M	20x	as long as short
Gate BTC_USDT	+0.0094%	8h	85,820.9	+0.053%	$5.66B	$10.39B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,834.9	+0.069%	$169.6M	$979.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,836.9	+0.071%	$23.3M	$145.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,778	+0.003%	$8.4M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,749	−0.031%	$210K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,766.6	−0.011%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,889	+0.132%	$3.77B	$5.04B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	85,775.8	long leg	$40.9M	$569.6M	50x
Bybit BTCUSDT	+0.0100%	8h	85,835.2	+0.069%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,821.9	+0.054%	$2.55B	$12.54B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,758	−0.021%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,745.2	−0.036%	$7.3M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,817.8	+0.049%	$35.2M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,783.2	+0.009%	$155.9M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,787.3	+0.013%	$278.0M	$944.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,857.1	+0.095%	$215.7M	$163.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,750	−0.030%	$30.3M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,816.9	+0.048%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,769	−0.008%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,791	+0.018%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,820.3	+0.052%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,863.3	+0.102%	$186K	$710K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,833.1	+0.067%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,757	−0.022%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,822	+0.054%	$60.1M	$337.9M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,820.8	+0.053%	$154.3M	$479.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	+0.034%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,796.3	+0.024%	$44.9M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,754.4	−0.025%	—	$101.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,858.2	+0.096%	$131.8M	$5.26B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,756.8	−0.022%	$706K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,848.5	+0.085%	$189.1M	$970.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0152%	1h	85,809.7	+0.040%	$77K	$217K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0160%	1h	85,862.6	+0.101%	$895.7M	$1.54B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,794.6	+0.022%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	85,788	+0.014%	$10.0M	$769.6M	6.4x	as long as short