Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against Binance−0.008%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.008%, 7d avg +0.034%

Together, before fees+0.095%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.042% cheaper against Binance than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.034%). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.078% in total) that is about 3.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.078% in total (about 4.0% 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	Binance BCHUSDT	264.35	−0.0106	get 0.0106% / 8h	4h 57m	$72.0M	$213.5M	75x
Short	Hyperliquid BCH	264.33	0.0100	get 0.0013% / 1h	57m 13s	$5.7M	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now −0.008%Rate

Funding earned: $43.2
Price spread: −0.008% → +0.034%: −$4.16
Slippage, 4 orders: −$12.78
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $7.26
Costs to cover: 0.318%
Break-even: 5.8 days

Slippage from Binance: live order book, 1 min ago; Hyperliquid: 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 Binance live order book, 1 min ago	0.19 bp	8.2 bp −$8	17.7 bp −$177	54.9 bp −$5,491	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.75 bp	8.1 bp −$8	doesn't fit	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
SunX BCH-USDT	−0.0911%	8h	263.74	−0.231%	$2K	$1.7M	30x	as long as short
HTX BCH-USDT	−0.0363%	8h	264.00	−0.132%	$770K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0313%	8h	264.32	−0.011%	$4.9M	$6.4M	50x	as long as short
SoDEX BCH-USD	−0.0311%	1h	264.25	−0.038%	$2K	$8K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0121%	8h	264.76	+0.155%	$386K	$17K	10x	as long as short
Binance BCHUSDTlong	−0.0106%	8h	264.35	long leg	$72.0M	$213.5M	75x
MEXC BCH_USDT	−0.0105%	8h	264.72	+0.140%	$69.8M	$7.2M	200x	as long as short
Extended BCH-USD	−0.0104%	1h	264.15	−0.077%	$112K	$952K	25x	as long as short
Coinbase International BCH-PERP-INTX	−0.0104%	1h	264.31	−0.015%	$221K	$1.8M	50x	as long as short
Variational Omni BCH	−0.0101%	8h	264.60	+0.093%	$81K	$201K	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BCH_USDT	−0.0099%	8h	264.14	−0.079%	$8.3M	$13.2M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0083%	8h	264.40	+0.019%	$24.9M	$74.0M	50x	as long as short
KuCoin BCHUSDTM	−0.0078%	8h	264.28	−0.026%	$8.5M	$7.1M	75x	as long as short
Bitget BCHUSDT	−0.0072%	8h	264.34	−0.004%	$19.0M	$28.1M	75x	as long as short
Bybit BCHUSDT	−0.0043%	8h	264.40	+0.019%	$39.1M	$30.9M	75x	as long as short
BingX BCH-USDT	−0.0034%	8h	264.05	−0.113%	—	$32.1M	—	as long as short
ApeX Omni BCHUSDT	−0.0020%	1h	264.85	+0.189%	$96K	$228K	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0011%	1h	264.32	−0.011%	$442K	$331K	25x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.35	−0.001%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	264.17	−0.067%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	264.43	+0.030%	$1.0M	$10.2M	2.7x	as long as short
Kraken Futures PF_BCHUSD	+0.0011%	1h	264.51	+0.060%	$847K	$3.0M	50x	as long as short
Nado BCH-PERP	+0.0012%	1h	263.95	−0.151%	$419K	$339K	10x	as long as short
BloFin BCH-USDT	+0.0014%	8h	264.35	0.000%	$3.9M	$4.2M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.213%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0034%	8h	264.21	−0.053%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	263.93	−0.157%	$160K	$321K	10x	as long as short
Lighter BCH	+0.0096%	1h	264.27	−0.030%	$362K	$482K	10x	as long as short
Hyperliquid BCHshort	+0.0100%	1h	264.33	−0.008%	$5.7M	$4.7M	10x
Aster BCHUSDT	+0.0100%	8h	264.37	+0.008%	$167K	$519K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.55	+0.076%	$19K	$291K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0356% / S −0.0525%	1h	264.36	+0.004%	$25K	—	100x	as long as short