BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0280%/8h= −30.6% APRnext payment −$0.35 per $10,000 · paid last 24h −0.064%

Price spread now: Deribit against Coinbase International−0.051%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.156%−$16 on $10k

Price spread, last 3 days (all we have)+0.131%+$13 · spread now −0.051%, 7d avg −0.009%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Deribit is 0.043% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.156% in total (about -8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 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	Coinbase International BCH-PERP-INTX	267.21	−0.0024	get 0.0003% / 1h	52m 26s	$255K	$2.1M	50x
Short	Deribit BCH_USDC-PERPETUAL	267.07	−0.0304	pay 0.0038% / 1h	52m 26s	$437K	$251K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$58.77
Price spread: −0.051% → −0.009%: −$4.27
Slippage, 4 orders: −$25.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$105.34
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Deribit: live order book, 36 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 Coinbase International live order book, 1 min ago	6.36 bp	12.4 bp −$12	17.8 bp −$178	doesn't fit	doesn't fit
Sell Deribit live order book, 36 min ago	3.60 bp	8.3 bp −$8	15.8 bp −$158	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-PERPETUALshort	−0.0304%	1h	267.07	−0.051%	$437K	$251K	25x
Injective BCH/USDC PERP	−0.0304%	1h	267.23	+0.007%	$713	$80K	12x	as long as short
Phemex BCHUSDT	−0.0197%	8h	267.06	−0.056%	$4.9M	$6.3M	50x	as long as short
Binance BCHUSDT	−0.0121%	8h	266.82	−0.146%	$73.7M	$231.5M	75x	as long as short
MEXC BCH_USDT	−0.0121%	8h	267.41	+0.075%	$70.8M	$6.3M	200x	as long as short
Extended BCH-USD	−0.0120%	1h	266.72	−0.185%	$105K	$643K	25x	as long as short
Bybit BCHUSDT	−0.0109%	8h	266.80	−0.153%	$39.3M	$32.4M	75x	as long as short
Variational Omni BCH	−0.0085%	8h	266.75	−0.173%	$85K	$291K	—	as long as short
SoDEX BCH-USD	−0.0079%	1h	266.95	−0.097%	$2K	$6K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0073%	8h	267.12	−0.035%	$389K	$17K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0058%	8h	266.71	−0.187%	$19.9M	$29.2M	75x	as long as short
Gate BCH_USDT	−0.0042%	8h	266.84	−0.138%	$8.3M	$14.3M	75x	as long as short
BingX BCH-USDC	−0.0025%	8h	266.88	−0.123%	—	$6.5M	—	as long as short
Coinbase International BCH-PERP-INTXlong	−0.0024%	1h	267.21	long leg	$255K	$2.1M	50x
OKX BCH-USDT-SWAP	−0.0022%	8h	266.80	−0.153%	$26.1M	$76.4M	50x	as long as short
BloFin BCH-USDT	−0.0002%	8h	266.77	−0.165%	$4.0M	$4.1M	50x	as long as short
dYdX BCH-USD	0.0000%	1h	266.90	−0.115%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	267.18	−0.011%	$1.1M	$11.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	266.98	−0.086%	$4K	—	150x	as long as short
Orderly PERP_BCH_USDC	+0.0030%	8h	266.81	−0.150%	$2K	$176	10x	as long as short
Nado BCH-PERP	+0.0045%	1h	266.75	−0.172%	$439K	$428K	10x	as long as short
KuCoin BCHUSDTM	+0.0070%	8h	266.85	−0.135%	$8.8M	$8.1M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	267.20	−0.003%	$804K	$3.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	266.82	−0.146%	$374K	$580K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	267.02	−0.071%	$6.0M	$4.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	266.95	−0.097%	$234K	$674K	75x	as long as short
Pacifica BCH	+0.0100%	1h	266.89	−0.120%	$168K	$461K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	266.99	−0.083%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	266.97	−0.090%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	266.75	−0.172%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	266.92	−0.109%	$768K	$1.7M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0365% / S −0.0554%	1h	266.96	−0.094%	$25K	—	100x	as long as short