Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Pacifica against Paradex−0.060%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$140.144% of the position

Long on Paradex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.060%, 7d avg +0.014%

Together, before fees+0.081%+ Points / potential airdropParadex: Active · Pacifica: Active · farm board+$8 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: Pacifica is 0.074% cheaper against Paradex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,590.5	0.0100	pay 0.0100% / 8h	4h 24m	$4.8M	$8.9M	50x
Short	Pacifica BTC	85,539	0.0100	get 0.0013% / 1h	24m 02s	$40.7M	$580.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Paradex. 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 ParadexbpFee PacificabpOrdersPrice spread, now −0.060%Rate

Funding earned: $0.03
Price spread: −0.060% → +0.014%: −$7.44
Slippage, 4 orders: −$2.36
Fee Paradex: 2 bp × 2 orders: −$4
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$21.76
Costs to cover: 0.144%
Break-even: 4399.8 days

Slippage from Paradex: live order book, 5 min ago; Pacifica: live order book, 5 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 Paradex live order book, 5 min ago	0.42 bp	2.4 bp −$2	2.4 bp −$24	doesn't fit	doesn't fit
Sell Pacifica live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.6 bp −$46	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	−0.0179%	1h	85,485	−0.123%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,534	−0.066%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,498.6	−0.107%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0024%	8h	85,505.5	−0.099%	$417.1M	$667.7M	150x	as long as short
KuCoin XBTUSDTM	−0.0019%	8h	85,499.7	−0.106%	$920.9M	$751.0M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,526.7	−0.075%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,510.5	−0.093%	$515.5M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0015%	1h	85,497.7	−0.108%	$16.7M	$21.3M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,475.5	−0.134%	$4.9M	$97.9M	40x	as long as short
Nado BTC-PERP	+0.0023%	1h	85,517.1	−0.086%	$25.5M	$222.3M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0062%	8h	85,508.4	−0.096%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,510.2	−0.094%	$147.6M	$487.2M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,522.1	−0.080%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0082%	1h	85,507.2	−0.097%	$6.7M	$146.8M	40x	as long as short
MEXC BTC_USDT	+0.0095%	8h	85,524.4	−0.077%	$5.06B	$5.64B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,530.2	−0.070%	$173.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,540.9	−0.058%	$23.9M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,506	−0.099%	$8.4M	$52.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,514.3	−0.089%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,528.7	−0.072%	$9.36B	$24.13B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,469	−0.142%	$210K	$8.1M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,590.5	long leg	$4.8M	$8.9M	50x
Hyperliquid BTC	+0.0100%	1h	85,601	+0.012%	$3.75B	$4.98B	40x	as long as short
Pacifica BTCshort	+0.0100%	1h	85,539	−0.060%	$40.7M	$580.0M	50x
Bybit BTCUSDT	+0.0100%	8h	85,520.8	−0.081%	$5.21B	$9.79B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,529.9	−0.071%	$2.58B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,502	−0.103%	$3.8M	$18.2M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,516	−0.087%	$659.1M	$647.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,526.6	−0.075%	$5.51B	$10.72B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,517	−0.086%	$35.7M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,455.5	−0.158%	$153.7M	$564.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,449	−0.165%	$279.2M	$919.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,448.2	−0.166%	$214.5M	$169.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,461	−0.151%	$139.8M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,507.1	−0.097%	$30.2M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,567.5	−0.027%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,510	−0.094%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,513.5	−0.090%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,516.9	−0.086%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,558.8	−0.037%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,509.5	−0.095%	$29.9M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,493.4	−0.113%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,521	−0.081%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,499.9	−0.106%	$2.26B	$942.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,493.3	−0.114%	$44.6M	$230.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,526.1	−0.075%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,559.8	−0.036%	$117.0M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0149%	1h	85,562.4	−0.033%	$884.7M	$1.56B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,475	−0.135%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,544.3	−0.054%	$187.6M	$954.9M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,529.4	−0.071%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,522.9	−0.079%	$13.4M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,521.4	−0.081%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,537.3	−0.062%	$703K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,539	−0.060%	$10.5M	$756.5M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,524.2	−0.077%	$501K	$18.8M	6.7x	as long as short