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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%
Price spread now: Pacifica against Popdex+0.041%7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on PopdexShort on Pacifica
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.007%+$1 on $10k
Price spread, last 7 days−0.040%−$4 · spread now +0.041%, 7d avg +0.019%
Together, before fees−0.034%+ Points / potential airdropPacifica: Active · farm board−$3 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 0.022% dearer against Popdex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.019%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex BTCUSDT86,6820.0096pay 0.0012% / 1h12m 12s$8.5M$52.3M100x
ShortPacifica BTC86,717.10.0100get 0.0013% / 1h12m 12s$41.0M$494.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica against Popdex. 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

Funding earned
$0.84
Price spread: +0.041% → +0.019%
$2.2
Slippage, 4 orders
−$1.04
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$12.4
Costs to cover
0.154%
Break-even
110.3 days
Slippage from Popdex: live order book, 2 min ago; Pacifica: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Popdex live order book, 2 min ago0.06 bp3.3 bp −$33.3 bp −$333.3 bp −$3344.5 bp −$2,232
Sell Pacifica live order book, 2 min ago0.06 bp4.1 bp −$44.5 bp −$45doesn't fitdoesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps BTCUSD−0.0245%1h86,738.5+0.065%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,697+0.017%$425K$24.6M6.7xas long as short
Phoenix BTC−0.0103%1h86,739+0.066%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,668−0.016%$9K$3K50xas long as short
dYdX BTC-USD−0.0063%1h86,692.6+0.012%$17.6M$20.6M50xas long as short
01 Exchange BTCUSD0.0000%1h86,704.4+0.026%$362K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,724.8+0.049%$929.4M$1.47B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,709.1+0.031%$36.9M—200xas long as short
Aster BTCUSDT+0.0005%8h86,671−0.013%$506.0M$1.16B200xas long as short
KuCoin XBTUSDTM+0.0006%8h86,676.8−0.006%$849.8M$707.7M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0022%1h86,681.60.000%$6.7M$144.4M40xas long as short
Phemex BTCUSDT+0.0028%8h86,682.5+0.001%$150.2M$472.1M150xas long as short
BingX BTC-USDT+0.0029%8h86,686.3+0.005%—$1.59B—as long as short
Bitget BTCUSDT+0.0036%8h86,682.10.000%$2.96B$5.09B150xas long as short
Injective BTC/USDC PERP+0.0049%1h86,752+0.081%$315K$26.8M52xas long as short
Binance BTCUSDT+0.0061%8h86,682.6+0.001%$9.43B$24.37B150xas long as short
MEXC BTC_USDT+0.0061%8h86,683.4+0.002%$5.19B$5.71B500xas long as short
RISEx BTC/USDC+0.0063%1h86,696+0.016%$9.3M$41.9M25xas long as short
Aevo BTC-PERP+0.0064%1h86,682.40.000%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0082%8h86,685.5+0.004%$5.85B$10.69B200xas long as short
Bybit BTCUSDT+0.0084%8h86,685.9+0.004%$5.28B$9.72B150xas long as short
OKX BTC-USDT-SWAP+0.0091%8h86,692.8+0.012%$2.56B$12.74B100xas long as short
Lighter BTC+0.0096%1h86,699.9+0.021%$172.0M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,704.9+0.026%$24.1M$154.2M50xas long as short
Popdex BTCUSDTlong+0.0096%1h86,682long leg$8.5M$52.3M100x
Katana Perps BTC-USD+0.0100%8h86,672−0.012%$201K$6.8M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,729.2+0.054%$4.8M$8.2M50xas long as short
Nado BTC-PERP+0.0100%1h86,670.7−0.013%$21.7M$235.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,757.2+0.087%$3.82B$5.12B40xas long as short
Pacifica BTCshort+0.0100%1h86,717.1+0.041%$41.0M$494.9M50x
Ondo Perps BTC-USD.P+0.0100%1h86,680−0.002%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,751.5+0.080%$7.5M$94.8M40xas long as short
Bulk BTC-USD+0.0100%1h86,792.1+0.127%$573.3M$22.0M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,687.5+0.006%$38.2M$149.8M75xas long as short
Variational Omni BTC+0.0100%8h86,796.1+0.132%$159.7M$566.8M—as long as short
edgeX BTCUSDC+0.0100%4h86,761.4+0.092%$280.3M$953.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,797.1+0.133%$218.0M$187.7M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,754.9+0.084%$141.6M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,730.5+0.056%$30.8M$203.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,744.4+0.072%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,684+0.002%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,686+0.005%$196K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,697.9+0.018%$2.4M$8.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,707.2+0.029%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,696.2+0.016%$30.0M$61.8M15xas long as short
SunX BTC-USDT+0.0100%8h86,686.9+0.006%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,6820.000%$60.6M$336.6M40xas long as short
HTX BTC-USDT+0.0100%8h86,670.8−0.013%$2.30B$959.5M200xas long as short
Extended BTC-USD+0.0104%1h86,674.5−0.009%$46.4M$226.7M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,733.8+0.060%—$98.8M500xas long as short
Kraken Futures PF_XBTUSD+0.0116%1h86,721.8+0.046%$188.0M$934.0M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,738.2+0.065%$131.8M$5.84B50xas long as short
Kalshi KXBTCPERP+0.0163%8h86,729+0.054%$9.6M$727.6M6.4xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0180% / S −0.0209%1h86,705.5+0.027%$15.0M—200xas long as short
BloFin BTC-USDT+0.0181%8h86,700+0.021%$416.5M$655.6M150xas long as short
Hibachi BTC/USDT-P+0.0200%1h86,738.7+0.065%$781K$7.8M30xas long as short