BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h −0.040%

Price spread now: Reya against Pacifica−0.052%7-day average −0.060% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.052%, 7d avg −0.060%

Together, before fees+0.003%+ Points / potential airdropPacifica: Active · Reya: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BTC	85,839.3	0.0100	pay 0.0013% / 1h	43m 16s	$40.9M	$569.6M	50x
Short	Reya BTCRUSDPERP	85,794.7	0.0054	get 0.0007% / 1h	43m 16s	$6.7M	$146.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpOrdersPrice spread, now −0.052%Rate

Funding earned: −$9.7
Price spread: −0.052% → −0.060%: $0.76
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$22.95
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 11 min ago; Reya: no order-book sample. Net counts fees only.

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, 11 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.084%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,829	−0.012%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.016%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,822	−0.020%	$364K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,834.4	−0.006%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,824.3	−0.017%	$510K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,811.1	−0.033%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	−0.034%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,801.5	−0.044%	$497.6M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	85,813.5	−0.030%	$894.9M	$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	85,827.1	−0.014%	$8.1M	$42.6M	25x	as long as short
BingX BTC-USDT	+0.0053%	8h	85,808.8	−0.036%	—	$1.59B	—	as long as short
Reya BTCRUSDPERPshort	+0.0054%	1h	85,794.7	−0.052%	$6.7M	$146.1M	40x
Bitget BTCUSDT	+0.0068%	8h	85,777	−0.073%	$2.95B	$5.14B	150x	as long as short
Nado BTC-PERP	+0.0073%	1h	85,821.5	−0.021%	$22.8M	$229.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0076%	1h	85,808.2	−0.036%	$140.3M	$320.9M	100x	as long as short
HTX BTC-USDT	+0.0078%	8h	85,775	−0.075%	$2.27B	$969.5M	200x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,801.6	−0.044%	$5.11B	$5.67B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,774.4	−0.076%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,772.5	−0.078%	$9.34B	$24.59B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,786.8	−0.061%	$169.5M	$980.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,787.4	−0.060%	$23.3M	$145.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,830	−0.011%	$8.4M	$52.5M	100x	as long as short
Gate BTC_USDT	+0.0096%	8h	85,808.3	−0.036%	$5.66B	$10.39B	200x	as long as short
Phemex BTCUSDT	+0.0097%	8h	85,764.6	−0.087%	$154.2M	$480.0M	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,799	−0.047%	$210K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,846.3	+0.008%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,867	+0.032%	$3.77B	$5.04B	40x	as long as short
Pacifica BTClong	+0.0100%	1h	85,839.3	long leg	$40.9M	$569.6M	50x
Bybit BTCUSDT	+0.0100%	8h	85,776.4	−0.073%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,760	−0.092%	$2.55B	$12.53B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,803	−0.042%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,804.5	−0.041%	$7.3M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,817.8	−0.025%	$35.2M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,783.2	−0.065%	$155.9M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,787.3	−0.061%	$278.0M	$944.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,740.2	−0.115%	$215.2M	$164.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,768.8	−0.082%	$30.3M	$207.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,852.5	+0.015%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,803	−0.042%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,810.2	−0.034%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,775.4	−0.074%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,820.1	−0.022%	$186K	$710K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,795.8	−0.051%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,757.9	−0.095%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,777	−0.073%	$60.1M	$337.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	−0.040%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,755.6	−0.097%	$44.9M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,834	−0.006%	—	$101.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,814.2	−0.029%	$131.6M	$5.26B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,756.8	−0.096%	$706K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,799	−0.047%	$188.9M	$970.5M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0147%	1h	85,823	−0.019%	$892.8M	$1.54B	50x	as long as short
Aftermath Perps BTCUSD	+0.0151%	1h	85,820.7	−0.022%	$77K	$217K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,812.2	−0.032%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	85,831	−0.010%	$9.9M	$769.9M	6.4x	as long as short