Funding you earn now, next payment 00:00 UTC−0.0188%/8h= −20.6% APRnext payment −$1.88 per $10,000 · paid last 24h −0.021%
Price spread now: Phemex against BingX+0.041%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$430.426% of the position
Funding, last 7 days−0.083%−$8 on $10k
+Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.041%, 7d avg 0.000%
=The price spread pays, funding is against you. Phemex is 0.041% dearer against BingX than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of 0.000%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.083% in total) that is about 3.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.083% in total (about -4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.88 per $10,000. 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 | BingX BCH-USDC | 268.93 | 0.0040 | pay 0.0040% / 8h | 30m 14s | — | $6.5M | — |
| Short | Phemex BCHUSDT | 269.04 | −0.0148 | pay 0.0148% / 8h | 30m 14s | $4.9M | $6.4M | 50x |
BingX BCH-USDC
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BingX. 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
- −$39.49
- Price spread: +0.041% → 0.000%
- $4.07
- Slippage, 4 orders
- −$20.61
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$78.03
- Costs to cover
- 0.426%
- Break-even
- never at this rate
Slippage from BingX: live order book, 5 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 BingX live order book, 5 min ago | 1.49 bp | 9.8 bp −$10 | 30.5 bp −$305 | 116.8 bp −$11.7K | 419.9 bp −$210.0K |
| Sell Phemex live order book, 4 min ago | 2.23 bp | 10.7 bp −$11 | 19.9 bp −$199 | 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 | −0.0352% | 1h | 269.00 | +0.025% | $454K | $266K | 25x | as long as short |
| Phemex BCHUSDTshort | −0.0148% | 8h | 269.04 | +0.041% | $4.9M | $6.4M | 50x | |
| Variational Omni BCH | −0.0142% | 8h | 268.92 | −0.004% | $82K | $294K | — | as long as short |
| SoDEX BCH-USD | −0.0136% | 1h | 268.85 | −0.030% | $2K | $6K | 10x | as long as short |
| Kraken Futures PF_BCHUSD | −0.0125% | 1h | 269.15 | +0.084% | $829K | $3.1M | 50x | as long as short |
| Bybit BCHUSDT | −0.0091% | 8h | 268.75 | −0.067% | $39.4M | $32.5M | 75x | as long as short |
| Injective BCH/USDC PERP | −0.0054% | 1h | 270.20 | +0.472% | $721 | $130K | 12x | as long as short |
| Coinbase International BCH-PERP-INTX | −0.0032% | 1h | 268.97 | +0.015% | $233K | $2.0M | 50x | as long as short |
| MEXC BCH_USDT | −0.0020% | 8h | 269.45 | +0.193% | $70.5M | $6.7M | 200x | as long as short |
| Binance BCHUSDT | −0.0019% | 8h | 268.92 | −0.004% | $74.4M | $229.5M | 75x | as long as short |
Deribit BCH_USDC-PERPETUAL
Variational Omni BCH
SoDEX BCH-USD
Kraken Futures PF_BCHUSD
Bybit BCHUSDT
Injective BCH/USDC PERP
Coinbase International BCH-PERP-INTX
MEXC BCH_USDT
Binance BCHUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended BCH-USD | −0.0016% | 1h | 268.74 | −0.069% | $116K | $652K | 25x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 269.15 | +0.083% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 269.17 | +0.089% | $1.3M | $11.5M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 269.05 | +0.046% | $4K | — | 150x | as long as short |
| Gate BCH_USDT | +0.0007% | 8h | 268.93 | 0.000% | $8.4M | $14.5M | 75x | as long as short |
| Orderly PERP_BCH_USDC | +0.0028% | 8h | 268.89 | −0.015% | $2K | $176 | 10x | as long as short |
| GRVT BCH_USDT_Perp | +0.0030% | 8h | 268.79 | −0.051% | $392K | $17K | 10x | as long as short |
| Bitget BCHUSDT | +0.0031% | 8h | 268.84 | −0.033% | $19.1M | $29.2M | 75x | as long as short |
| BingX BCH-USDClong | +0.0040% | 8h | 268.93 | long leg | — | $6.5M | — | |
| OKX BCH-USDT-SWAP | +0.0041% | 8h | 268.80 | −0.048% | $26.3M | $77.6M | 50x | as long as short |
| Lighter BCH | +0.0096% | 1h | 268.95 | +0.006% | $371K | $556K | 10x | as long as short |
| BloFin BCH-USDT | +0.0100% | 8h | 269.01 | +0.030% | $4.0M | $4.2M | 50x | as long as short |
| Nado BCH-PERP | +0.0100% | 1h | 268.87 | −0.021% | $444K | $425K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 269.41 | +0.178% | $6.0M | $4.3M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 268.94 | +0.002% | $214K | $671K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 268.95 | +0.007% | $163K | $467K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 269.00 | +0.026% | $9.2M | $7.7M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 268.75 | −0.068% | $19K | $291K | 20x | as long as short |
| ApeX Omni BCHUSDT | +0.0100% | 1h | 268.81 | −0.045% | $73K | $214K | 50x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 268.91 | −0.007% | $2K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 268.65 | −0.104% | $777K | $1.6M | 75x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0334% / S −0.0340% | 1h | 269.03 | +0.037% | $27K | — | 100x | as long as short |
Extended BCH-USD
dYdX BCH-USD
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Gate BCH_USDT
Orderly PERP_BCH_USDC
GRVT BCH_USDT_Perp
Bitget BCHUSDT
OKX BCH-USDT-SWAP
Lighter BCH
BloFin BCH-USDT
Nado BCH-PERP
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
ApeX Omni BCHUSDT
SunX BCH-USDT
HTX BCH-USDT
GMX BCH/USD [WBTC.b-USDC]