BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0135%/8h= +14.8% APRnext payment +$0.17 per $10,000 · paid last 24h +0.023%

Price spread now: Pacifica against Injective−0.008%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$130.128% of the position

Long on Injective Short on Pacifica

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.008%, 7d avg +0.015%

Together, before fees+0.108%+ Points / potential airdropPacifica: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.023% cheaper against Injective than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.015%). If the spread goes back, that is −$2 on $10k: about 14 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.043% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BTC/USDC PERP	86,601	−0.0035	get 0.0004% / 1h	50m 18s	$333K	$26.8M	52x
Short	Pacifica BTC	86,594	0.0100	get 0.0013% / 1h	50m 18s	$41.2M	$521.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Injective. 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 InjectivebpFee PacificabpOrdersPrice spread, now −0.008%Rate

Funding earned: $28.3
Price spread: −0.008% → +0.015%: −$2.3
Slippage, 4 orders: −$4.78
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $13.19
Costs to cover: 0.128%
Break-even: 3.7 days

Slippage from Injective: 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 Injective live order book, 4 min ago	1.56 bp	1.9 bp −$2	11.4 bp −$114	doesn't fit	doesn't fit
Sell Pacifica live order book, 4 min ago	0.06 bp	4.1 bp −$4	4.2 bp −$42	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
Phoenix BTC	−0.0118%	1h	86,543	−0.067%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,557	−0.051%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERPlong	−0.0035%	1h	86,601	long leg	$333K	$26.8M	52x
RISEx BTC/USDC	−0.0024%	1h	86,559.3	−0.048%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,555.4	−0.053%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0002%	8h	86,549.6	−0.059%	$502.4M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,544.4	−0.065%	$916.6M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,547.5	−0.062%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0010%	8h	86,545	−0.065%	$850.3M	$714.3M	125x	as long as short
Reya BTCRUSDPERP	+0.0025%	1h	86,540.4	−0.070%	$6.7M	$145.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0040%	1h	86,591.4	−0.011%	$17.0M	$21.1M	50x	as long as short
BingX BTC-USDT	+0.0041%	8h	86,531.5	−0.080%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0045%	8h	86,537.8	−0.073%	$149.6M	$479.5M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,514.6	−0.100%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,529.6	−0.082%	$5.16B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0072%	8h	86,530.3	−0.082%	$9.43B	$24.54B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,516.8	−0.097%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,529.2	−0.083%	$5.88B	$10.71B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,569.6	−0.036%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,589	−0.014%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,544	−0.066%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,526.4	−0.086%	$5.26B	$9.81B	150x	as long as short
Aftermath Perps BTCUSD	+0.0100%	1h	86,542.4	−0.068%	$79K	$220K	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,530	−0.082%	$202K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,602.8	+0.002%	$4.8M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,566.6	−0.040%	$21.8M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,626	+0.029%	$3.80B	$5.11B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	86,594	−0.008%	$41.2M	$521.5M	50x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,529.5	−0.083%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,566	−0.040%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,582	−0.022%	$7.6M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.047%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,530.4	−0.082%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,524.8	−0.088%	$155.3M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,512.3	−0.102%	$279.6M	$945.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,538.5	−0.072%	$217.2M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,585.9	−0.017%	$141.5M	$323.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,532.3	−0.079%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,596.6	−0.005%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,546	−0.064%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,531	−0.081%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,529.5	−0.083%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,556.2	−0.052%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,555	−0.053%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,516.1	−0.098%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,506	−0.110%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,532.8	−0.079%	$2.30B	$969.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,499.6	−0.117%	$45.4M	$227.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,550.2	−0.059%	—	$99.1M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,535.6	−0.075%	$193.5M	$951.0M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,544.8	−0.065%	$416K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,552.1	−0.056%	$132.7M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,578.4	−0.026%	$722K	$8.0M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0191% / S −0.0214%	1h	86,543.2	−0.067%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0192%	8h	86,530.5	−0.081%	$414.3M	$658.1M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,583	−0.021%	$9.7M	$740.2M	6.4x	as long as short