Funding you earn now, next payment 11:00 UTC−0.0212%/8h= −23.2% APRnext payment −$0.27 per $10,000 · paid last 24h −0.006%
Price spread now: Pacifica against Hibachi−0.041%46s7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$380.382% of the position
Funding, last 7 days−0.142%−$14 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.041%, 7d avg −0.003%
=Together, before fees−0.100%+ Points / potential airdropHibachi: Active · Pacifica: Active · farm board−$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Pacifica is 0.037% cheaper against Hibachi than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.003%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.142% in total (about -7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi EUR/USDT-P | 1.1469 | 0.0312 | pay 0.0039% / 1h | 43m 38s | $158K | $8.1M | 30x |
| Short | Pacifica EURUSD | 1.1464 | 0.0100 | get 0.0013% / 1h | 43m 38s | $196K | $64K | 50x |
Hibachi EUR/USDT-P
Pacifica EURUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Pacifica against Hibachi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$44.52
- Price spread: −0.041% → −0.003%
- −$3.74
- Slippage, 4 orders
- −$21.16
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Net
- −$86.41
- Costs to cover
- 0.382%
- Break-even
- never at this rate
Slippage from Hibachi: live order book, 4 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Hibachi live order book, 4 min ago | 0.04 bp | 4.6 bp −$5 | 16.5 bp −$165 | doesn't fit | doesn't fit |
| Sell Pacifica live order book, 2 min ago | 3.49 bp | 15.0 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
EUR on 18 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff EURUSD-PERP | −0.0800% | 1h | 1.1468 | −0.010% | $33K | — | 50x | as long as short |
| MEXC EUR_USDT | −0.0154% | 4h | 1.1466 | −0.027% | $6.8M | $142K | 100x | as long as short |
| Kraken Futures PF_EURUSD | −0.0111% | 1h | 1.1461 | −0.072% | $3K | — | 50x | as long as short |
| Nado EURUSD-PERP | −0.0024% | 1h | 1.1468 | −0.011% | $191K | $295K | 40x | as long as short |
| Lighter EURUSD | 0.0000% | 1h | 1.1472 | +0.028% | $2.1M | $507K | 50x | as long as short |
| Bybit EURUSDUSDT | 0.0000% | 8h | 1.1483 | +0.124% | $625K | $351K | 100x | as long as short |
| Gate EURUSD_USDT | 0.0000% | 8h | 1.1473 | +0.034% | $144K | $3K | 100x | as long as short |
| Bitget EURUSDUSDT | 0.0000% | 8h | 1.1471 | +0.017% | $263K | $27K | 100x | as long as short |
| Orderly PERP_EURUSD_USDC | 0.0000% | 8h | 1.1465 | −0.036% | $247K | $122K | 50x | as long as short |
| SunX EURUSD-USDT | 0.0000% | 1h | 1.1469 | −0.001% | — | $1.7M | 10x | as long as short |
Hotstuff EURUSD-PERP
MEXC EUR_USDT
Kraken Futures PF_EURUSD
Nado EURUSD-PERP
Lighter EURUSD
Bybit EURUSDUSDT
Gate EURUSD_USDT
Bitget EURUSDUSDT
Orderly PERP_EURUSD_USDC
SunX EURUSD-USDTShow all 18 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX EURUSD-USDT | 0.0000% | 1h | 1.1468 | −0.010% | $12K | $272K | 20x | as long as short |
| Extended EUR-USD | +0.0032% | 1h | 1.1464 | −0.047% | $6.8M | $1.3M | 100x | as long as short |
| Injective EURUSD/USDC PERP | +0.0033% | 1h | 1.1466 | −0.024% | $9K | $78K | 101x | as long as short |
| Vest EUR-USD-PERP | +0.0046% | 1h | 1.1496 | +0.236% | — | $190K | 100x | as long as short |
| tradeXYZ xyz:EUR | +0.0064% | 1h | 1.1468 | −0.010% | $23.2M | $2.0M | 50x | as long as short |
| Pacifica EURUSDshort | +0.0100% | 1h | 1.1464 | −0.041% | $196K | $64K | 50x | |
| Aevo EURUSD-PERP | +0.0104% | 1h | 1.1470 | +0.004% | $12K | — | 10x | as long as short |
| Hibachi EUR/USDT-Plong | +0.0312% | 1h | 1.1469 | long leg | $158K | $8.1M | 30x |
HTX EURUSD-USDT
Extended EUR-USD
Injective EURUSD/USDC PERP
Vest EUR-USD-PERP
tradeXYZ xyz:EUR
Aevo EURUSD-PERP