Funding you earn now, next payment 00:00 UTC−0.0142%/8h= −15.6% APRnext payment −$1.42 per $10,000 · paid last 24h −0.016%
Price spread now: Phemex against Binance−0.032%7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$390.385% of the position
Funding, last 7 days+0.023%+$2 on $10k
+Price spread, last 3 days (all we have)−0.035%−$4 · spread now −0.032%, 7d avg +0.007%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.038% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.007%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BCHUSDT | 270.10 | −0.0046 | get 0.0046% / 8h | 1h 12m | $75.1M | $234.2M | 75x |
| Short | Phemex BCHUSDT | 270.01 | −0.0188 | pay 0.0188% / 8h | 1h 12m | $4.9M | $6.5M | 50x |
Binance BCHUSDT
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- −$29.91
- Price spread: −0.032% → +0.007%
- −$3.82
- Slippage, 4 orders
- −$16.51
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$72.24
- Costs to cover
- 0.385%
- Break-even
- never at this rate
Slippage from Binance: live order book, 16 min ago; Phemex: live order book, 6 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, 16 min ago | 0.19 bp | 8.5 bp −$9 | 18.4 bp −$184 | 61.8 bp −$6,184 | doesn't fit |
| Sell Phemex live order book, 6 min ago | 0.19 bp | 13.2 bp −$13 | 21.0 bp −$210 | 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 | −0.0838% | 1h | 269.95 | −0.053% | $458K | $265K | 25x | as long as short |
| Phemex BCHUSDTshort | −0.0188% | 8h | 270.01 | −0.032% | $4.9M | $6.5M | 50x | |
| SoDEX BCH-USD | −0.0168% | 1h | 269.86 | −0.087% | $2K | $6K | 10x | as long as short |
| Injective BCH/USDC PERP | −0.0154% | 1h | 270.20 | +0.039% | $721 | $130K | 12x | as long as short |
| Variational Omni BCH | −0.0115% | 8h | 269.72 | −0.140% | $83K | $294K | — | as long as short |
| Bybit BCHUSDT | −0.0067% | 8h | 270.00 | −0.035% | $39.4M | $33.0M | 75x | as long as short |
| Extended BCH-USD | −0.0048% | 1h | 269.96 | −0.051% | $117K | $653K | 25x | as long as short |
| Binance BCHUSDTlong | −0.0046% | 8h | 270.10 | long leg | $75.1M | $234.2M | 75x | |
| MEXC BCH_USDT | −0.0045% | 8h | 270.67 | +0.213% | $70.9M | $6.6M | 200x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 270.30 | +0.076% | $5K | $248 | 10x | as long as short |
Deribit BCH_USDC-PERPETUAL
SoDEX BCH-USD
Injective BCH/USDC PERP
Variational Omni BCH
Bybit BCHUSDT
Extended BCH-USD
MEXC BCH_USDT
dYdX BCH-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXBCHPERP | 0.0000% | 8h | 270.37 | +0.102% | $1.3M | $11.8M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 269.95 | −0.055% | $4K | — | 150x | as long as short |
| Gate BCH_USDT | +0.0006% | 8h | 270.10 | +0.002% | $8.4M | $14.9M | 75x | as long as short |
| Coinbase International BCH-PERP-INTX | +0.0016% | 1h | 270.97 | +0.324% | $243K | $2.1M | 50x | as long as short |
| Bitget BCHUSDT | +0.0018% | 8h | 270.13 | +0.013% | $19.5M | $29.4M | 75x | as long as short |
| GRVT BCH_USDT_Perp | +0.0018% | 8h | 270.08 | −0.006% | $394K | $17K | 10x | as long as short |
| Orderly PERP_BCH_USDC | +0.0024% | 8h | 269.77 | −0.120% | $2K | $176 | 10x | as long as short |
| OKX BCH-USDT-SWAP | +0.0061% | 8h | 270.00 | −0.035% | $26.4M | $78.3M | 50x | as long as short |
| BingX BCH-USDT | +0.0071% | 8h | 270.04 | −0.020% | — | $30.5M | — | as long as short |
| BloFin BCH-USDT | +0.0074% | 8h | 269.94 | −0.057% | $4.0M | $4.2M | 50x | as long as short |
| Nado BCH-PERP | +0.0094% | 1h | 269.81 | −0.105% | $442K | $428K | 10x | as long as short |
| Lighter BCH | +0.0096% | 1h | 270.22 | +0.046% | $378K | $588K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 270.46 | +0.135% | $6.0M | $4.2M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 270.14 | +0.015% | $218K | $703K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 270.06 | −0.012% | $164K | $467K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 270.19 | +0.035% | $9.3M | $8.0M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 270.10 | +0.003% | $19K | $290K | 20x | as long as short |
| ApeX Omni BCHUSDT | +0.0100% | 1h | 270.36 | +0.098% | $73K | $213K | 50x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 269.64 | −0.169% | $1K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 269.77 | −0.120% | $777K | $1.7M | 75x | as long as short |
| Kraken Futures PF_BCHUSD | +0.0113% | 1h | 270.24 | +0.053% | $818K | $3.2M | 50x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0335% / S −0.0388% | 1h | 269.98 | −0.043% | $26K | — | 100x | as long as short |
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Gate BCH_USDT
Coinbase International BCH-PERP-INTX
Bitget BCHUSDT
GRVT BCH_USDT_Perp
Orderly PERP_BCH_USDC
OKX BCH-USDT-SWAP
BingX BCH-USDT
BloFin BCH-USDT
Nado BCH-PERP
Lighter BCH
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
ApeX Omni BCHUSDT
SunX BCH-USDT
HTX BCH-USDT
Kraken Futures PF_BCHUSD
GMX BCH/USD [WBTC.b-USDC]