Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0224%/8h= −24.5% APRpaid last 24h −0.024%

Price spread now: Phemex against ApeX Omni+0.241%77s7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as 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−$590.590% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 3 days (all we have)−0.251%−$25 · spread now +0.241%, 7d avg −0.040%

Together, before fees−0.393%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.281% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.241% now, against its 7-day average of −0.040%): +$28 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4.2 days. At the pace of the last 7 days (−0.142% in total) that is about 14 days. The two prices were read 77 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. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BCHUSDT	265.52	−0.0237	get 0.0030% / 1h	50m 12s	$97K	$227K	50x
Short	Phemex BCHUSDT	266.16	−0.0460	pay 0.0460% / 8h	6h 50m	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now +0.241%Rate

Funding earned: −$46.95
Price spread: +0.241% → −0.040%: $28.14
Slippage, 4 orders: −$36.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$77.77
Costs to cover: 0.590%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 16 min ago; Phemex: live order book, 4 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 ApeX Omni live order book, 16 min ago	7.08 bp	15.1 bp −$15	105.8 bp −$1,058	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	6.23 bp	15.0 bp −$15	22.2 bp −$222	doesn't fit	doesn't fit

BCH on 32 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
Deribit BCH_USDC-PERPETUAL	−0.0467%	1h	266.28	+0.285%	$450K	$266K	25x	as long as short
Phemex BCHUSDTshort	−0.0460%	8h	266.16	+0.241%	$4.9M	$6.5M	50x
SoDEX BCH-USD	−0.0442%	1h	266.21	+0.260%	$2K	$6K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0298%	1h	266.50	+0.369%	$853K	$3.1M	50x	as long as short
ApeX Omni BCHUSDTlong	−0.0237%	1h	265.52	long leg	$97K	$227K	50x
GRVT BCH_USDT_Perp	−0.0218%	8h	265.32	−0.076%	$387K	$17K	10x	as long as short
Gate BCH_USDT	−0.0140%	8h	266.38	+0.324%	$8.4M	$13.2M	75x	as long as short
Variational Omni BCH	−0.0123%	8h	265.51	−0.004%	$81K	$285K	—	as long as short
Coinbase International BCH-PERP-INTX	−0.0112%	1h	266.10	+0.218%	$236K	$2.1M	50x	as long as short
Extended BCH-USD	−0.0088%	1h	266.18	+0.249%	$112K	$966K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0086%	8h	266.20	+0.256%	$72.0M	$233.4M	75x	as long as short
MEXC BCH_USDT	−0.0084%	8h	266.51	+0.373%	$69.9M	$6.8M	200x	as long as short
Bybit BCHUSDT	−0.0078%	8h	266.20	+0.256%	$39.2M	$33.2M	75x	as long as short
HTX BCH-USDT	−0.0051%	8h	266.08	+0.211%	$778K	$1.6M	75x	as long as short
SunX BCH-USDT	−0.0034%	8h	265.96	+0.166%	$2K	$1.9M	30x	as long as short
Bitget BCHUSDT	−0.0031%	8h	266.28	+0.286%	$19.1M	$29.8M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0028%	8h	266.30	+0.294%	$25.9M	$76.8M	50x	as long as short
Nado BCH-PERP	−0.0021%	1h	266.23	+0.267%	$435K	$425K	10x	as long as short
BingX BCH-USDC	−0.0012%	8h	266.37	+0.320%	—	$6.5M	—	as long as short
dYdX BCH-USD	0.0000%	1h	266.17	+0.245%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.32	+0.301%	$1.1M	$11.0M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	266.35	+0.313%	$4K	—	150x	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	266.17	+0.245%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.763%	$721	$130K	12x	as long as short
BloFin BCH-USDT	+0.0035%	8h	265.85	+0.124%	$3.9M	$4.2M	50x	as long as short
Pacifica BCH	+0.0040%	1h	266.12	+0.226%	$162K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0084%	8h	266.16	+0.241%	$8.6M	$7.6M	75x	as long as short
Lighter BCH	+0.0096%	1h	266.24	+0.270%	$366K	$478K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	266.58	+0.399%	$5.8M	$5.0M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	266.30	+0.293%	$170K	$688K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.13	−0.149%	$19K	$291K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0451%	1h	266.33	+0.305%	$25K	—	100x	as long as short