Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Pacifica+0.038%7-day average +0.005% · 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−$15as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Pacifica Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.038%, 7d avg +0.005%

Together, before fees+0.038%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.032% dearer against Pacifica than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ETH	2,784.2	0.0100	pay 0.0013% / 1h	52m 21s	$31.3M	$306.5M	50x
Short	Polymarket Perps ETH-USD	2,785.2	0.0100	get 0.0013% / 1h	52m 21s	$10.8M	$7.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → +0.005%: $3.22
Slippage, 4 orders: −$1.77
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$14.55
Costs to cover: 0.178%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Polymarket Perps: live order book, 2 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, 2 min ago	0.18 bp	4.2 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	0.18 bp	4.7 bp −$5	5.6 bp −$56	13.6 bp −$1,358	doesn't fit

ETH on 55 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
Perpl ETH	−0.0447%	43m	2,783.4	−0.026%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,783	−0.042%	$5.7M	$11.9M	25x	as long as short
ApeX Omni ETHUSDT	−0.0131%	1h	2,779.8	−0.156%	$8.8M	$32.7M	100x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,782.5	−0.059%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,784.2	+0.002%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0024%	1h	2,784.6	+0.016%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0002%	1h	2,782	−0.077%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,784.5	+0.011%	$12.8M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,785	+0.030%	$884K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,783.8	−0.014%	$22.5M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0014%	8h	2,782.8	−0.049%	—	$17.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,783.3	−0.032%	$1.70B	$11.92B	100x	as long as short
Phemex ETHUSDT	+0.0025%	8h	2,785.9	+0.062%	$271.4M	$68.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,784.3	+0.006%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0038%	8h	2,784.6	+0.016%	$255.3M	$1.00B	200x	as long as short
MEXC ETH_USDT	+0.0064%	8h	2,784	−0.004%	$1.60B	$2.63B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,784.4	+0.010%	$5.1M	$636K	20x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,783.6	−0.021%	$2.11B	$3.11B	150x	as long as short
Binance ETHUSDT	+0.0066%	8h	2,783.9	−0.008%	$6.46B	$17.26B	150x	as long as short
Bullet ETH-USD	+0.0067%	1h	2,783.7	−0.016%	$184K	$1.7M	20x	as long as short
Gate ETH_USDT	+0.0071%	8h	2,783.8	−0.013%	$3.31B	$9.58B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,787.3	+0.112%	$60.3M	$4.62B	50x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,783.5	−0.025%	$2.52B	$4.63B	150x	as long as short
HTX ETH-USDT	+0.0090%	8h	2,785.8	+0.060%	$1.08B	$1.32B	200x	as long as short
KuCoin ETHUSDTM	+0.0090%	8h	2,784	−0.005%	$424.1M	$739.3M	100x	as long as short
Nado ETH-PERP	+0.0093%	1h	2,783.1	−0.038%	$14.4M	$118.2M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,783.9	−0.009%	$116.3M	$495.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,786	+0.065%	$25.4M	$120.6M	50x	as long as short
Vest ETH-PERP	+0.0096%	1h	2,784.7	+0.020%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,783.5	−0.023%	$16.0M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,783	−0.041%	$479K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,786.8	+0.095%	$3.20B	$2.35B	25x	as long as short
Pacifica ETHlong	+0.0100%	1h	2,784.2	long leg	$31.3M	$306.5M	50x
Ondo Perps ETH-USD.P	+0.0100%	1h	2,782.8	−0.049%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,784.4	+0.010%	$2.7M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	−0.223%	$168.1M	$250.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,785.8	+0.058%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,781.4	−0.098%	$147.6M	$336.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,782.4	−0.065%	$182.1M	$780.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,784.1	−0.002%	$161.9M	$90.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,786.7	+0.092%	$21.5M	$58.3M	40x	as long as short
Polymarket Perps ETH-USDshort	+0.0100%	1h	2,785.2	+0.038%	$10.8M	$7.6M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,784	−0.007%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,785.8	+0.060%	$42.9M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,783.2	−0.035%	$977K	$13.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,783.7	−0.016%	$55.4M	$229.0M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,782.8	−0.048%	$32.7M	$77.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,784.5	+0.012%	—	$41.8M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0120%	1h	2,785.3	+0.041%	$258.9M	$222.8M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,784.9	+0.026%	$86.8M	$332.7M	100x	as long as short
Kalshi KXETHPERP	+0.0125%	8h	2,786.3	+0.077%	$8.4M	$681.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,786.1	+0.069%	$32.7M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0185%	8h	2,785.9	+0.061%	$285.4M	$195.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0197%	1h	2,783.7	−0.017%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0288%	1h	2,785.1	+0.032%	$271K	$1.5M	20x	as long as short