Funding you earn now, next payment 03:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.017%
Price spread now: Pacifica against Phemex+0.059%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$200.201% of the position
Funding, last 7 days+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.140%+$14 · spread now +0.059%, 7d avg +0.033%
=Together, before fees+0.226%+ Points / potential airdropPacifica: Active · farm board+$23 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Pacifica is 0.026% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.033%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 85,822.2 | 0.0075 | pay 0.0075% / 8h | 5h 10m | $149.1M | $479.8M | 150x |
| Short | Pacifica BTC | 85,872.8 | 0.0100 | get 0.0013% / 1h | 10m 31s | $40.2M | $577.3M | 50x |
Phemex BTCUSDT
Pacifica BTCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Pacifica against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.21
- Price spread: +0.059% → +0.033%
- $2.58
- Slippage, 4 orders
- −$0.13
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Net
- −$12.34
- Costs to cover
- 0.201%
- Break-even
- 23.6 days
Slippage from Phemex: live order book, 4 min ago; Pacifica: live order book, 4 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 Phemex live order book, 4 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 8.1 bp −$808 | doesn't fit |
| Sell Pacifica live order book, 4 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0618% | 1h | 85,862.9 | +0.047% | $197K | $721K | 40x | as long as short |
| Phoenix BTC | −0.0160% | 1h | 85,728 | −0.110% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,856 | +0.039% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,840.2 | +0.021% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,822.6 | 0.000% | $418.0M | $666.5M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,840.8 | +0.022% | $16.8M | $21.2M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0004% | 8h | 85,824.9 | +0.003% | $920.4M | $751.5M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,824.8 | +0.003% | $36.7M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0012% | 1h | 85,842.5 | +0.024% | $22.7M | $219.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0020% | 8h | 85,828 | +0.007% | $517.0M | $1.10B | 200x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0057% | 8h | 85,829.7 | +0.009% | — | $17.0M | — | as long as short |
| Bitget BTCUSDT | +0.0072% | 8h | 85,830.6 | +0.010% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0073% | 1h | 85,817.5 | −0.005% | $6.7M | $146.5M | 40x | as long as short |
| Phemex BTCUSDTlong | +0.0075% | 8h | 85,822.2 | long leg | $149.1M | $479.8M | 150x | |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,807 | −0.018% | $341K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,815.9 | −0.007% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0087% | 8h | 85,841 | +0.022% | $5.08B | $5.65B | 500x | as long as short |
| Binance BTCUSDT | +0.0087% | 8h | 85,843 | +0.024% | $9.36B | $23.87B | 150x | as long as short |
| HTX BTC-USDT | +0.0090% | 8h | 85,812.5 | −0.011% | $2.27B | $936.0M | 200x | as long as short |
| SoDEX BTC-USD | +0.0095% | 1h | 85,821 | −0.001% | $60.1M | $336.2M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,850.8 | +0.033% | $174.8M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,852 | +0.035% | $24.0M | $149.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,842 | +0.023% | $8.4M | $52.2M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,882.4 | +0.070% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,814 | −0.010% | $198K | $7.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,918 | +0.112% | $3.75B | $4.98B | 40x | as long as short |
| Pacifica BTCshort | +0.0100% | 1h | 85,872.8 | +0.059% | $40.2M | $577.3M | 50x | |
| Bybit BTCUSDT | +0.0100% | 8h | 85,846.4 | +0.028% | $5.34B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,850.3 | +0.033% | $2.58B | $12.12B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,827 | +0.006% | $3.9M | $18.0M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,817.6 | −0.005% | $6.8M | $97.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,800.8 | −0.025% | $635.6M | $478.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,848.3 | +0.030% | $5.56B | $10.56B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,822.9 | +0.001% | $35.4M | $172.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,777.2 | −0.052% | $157.4M | $555.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,749.7 | −0.084% | $280.1M | $916.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,776.3 | −0.053% | $215.4M | $165.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,774.1 | −0.056% | $140.3M | $314.6M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,793.6 | −0.033% | $30.3M | $208.9M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,874.5 | +0.061% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,832 | +0.011% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,810 | −0.014% | $193K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,808.7 | −0.016% | $2.4M | $8.8M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,817.1 | −0.006% | $30.1M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,802.9 | −0.022% | $2.9M | $6.1M | 100x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,820.6 | −0.002% | $44.2M | $226.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,759.1 | −0.074% | — | $105.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,864.7 | +0.050% | $126.0M | $5.11B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,869.5 | +0.055% | $8.4M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0138% | 1h | 85,852.2 | +0.035% | $189.4M | $952.6M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0162% | 1h | 85,868.3 | +0.054% | $891.6M | $1.52B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 85,840.9 | +0.022% | $704K | $7.8M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,818.7 | −0.004% | $13.6M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,796.9 | −0.029% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0219% | 8h | 85,811 | −0.013% | $10.6M | $758.2M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,801.9 | −0.024% | $503K | $19.3M | 6.7x | as long as short |
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
HTX BTC-USDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC