Arcus vs Pacifica Funding Arbitrage
12 shared markets · net of estimated fees · updated every few minutesArcus and Pacifica both quote 12 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is SNDK — long Arcus / short Pacifica at 66.0% net APR — but the median across all shared markets is 2.6%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 11 markets go long on Arcus and 1 on Pacifica. 5 markets clear 5% net APR, 5 clear 10%.
How this pair behaves
Arcus pays funding every 1h on 61 markets; Pacifica pays every 1h on 57 markets. Both sides settle on the same clock, so a position opened here collects or pays on both legs at once — the spread you see is the spread you get. Arcus quotes 61 perpetual markets in total and Pacifica quotes 57; the 12 they share are what this page ranks. Across its own book Arcus runs a median funding rate of 4.5% and Pacifica 10.9%, so the edge here comes from individual markets rather than from a standing gap between the venues.
Spreads by market
top 12 of 12 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| SNDK | Arcus | Pacifica | 66.0% | 69.3% | +1.5% | $6.6M |
| SPCX | Arcus | Pacifica | 52.5% | 56.0% | +18.5% | $1.5M |
| USELESS | Pacifica | Arcus | 48.1% | 57.4% | +8.0% | $1.5M |
| FARTCOIN | Arcus | Pacifica | 25.7% | 32.6% | +2.5% | $24K |
| TAO | Arcus | Pacifica | 20.4% | 24.1% | +7.0% | $37K |
| NVDA | Arcus | Pacifica | 2.6% | 6.5% | +8.3% | $21.7M |
| MU | Arcus | Pacifica | 2.5% | 6.5% | +11.1% | $1.0M |
| DRAM | Arcus | Pacifica | 2.1% | 6.5% | +20.0% | $948K |
| HOOD | Arcus | Pacifica | 1.7% | 6.5% | +6.9% | $2.4M |
| SOL | Arcus | Pacifica | 1.2% | 3.7% | +5.1% | $2.4M |
| TSLA | Arcus | Pacifica | 0.8% | 6.5% | +9.0% | $768K |
| MSTR | Arcus | Pacifica | 0.8% | 6.5% | -5.1% | $840K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Arcus vs Pacifica — FAQ
How many markets can you arbitrage between Arcus and Pacifica?
12 perpetual markets are quoted on both Arcus and Pacifica right now. 5 of them show a net spread of at least 5% APR after estimated fees, and 7 have at least $1M of 24h volume on the smaller leg.
What is the best Arcus / Pacifica funding spread right now?
SNDK: long Arcus and short Pacifica for about 66.0% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 12 shared markets is 2.6%, so the top of the list is not typical.
Which side pays on the Arcus / Pacifica pair?
It varies by market: Arcus is the long (funding-receiving) leg in 11 of the shared markets and Pacifica in the other 1. The direction is set per market by which venue currently prices funding lower.
Trading the Arcus / Pacifica spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: Arcus funding rates · Pacifica funding rates; the full calculation is in the methodology.