BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0186%/8h= −20.4% APRnext payment −$0.23 per $10,000 · paid last 24h −0.023%

Price spread now: Kraken Futures against Coinbase International+0.150%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.150%, 7d avg +0.018%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.132% dearer against Coinbase International than usual: you sell high and buy low (spread +0.150% now, against its 7-day average of +0.018%): +$13 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.106% in total) that is about 8.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.106% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 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	266.10	−0.0112	get 0.0014% / 1h	49m 59s	$236K	$2.1M	50x
Short	Kraken Futures PF_BCHUSD	266.50	−0.0298	pay 0.0037% / 1h	49m 59s	$853K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.150%Rate

Funding earned: −$39.13
Price spread: +0.150% → +0.018%: $13.21
Slippage, 4 orders: −$47.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$93.06
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Kraken Futures: 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 Coinbase International live order book, 4 min ago	4.71 bp	18.0 bp −$18	27.5 bp −$275	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	4.90 bp	14.8 bp −$15	29.8 bp −$298	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	+0.066%	$450K	$266K	25x	as long as short
Phemex BCHUSDT	−0.0460%	8h	266.16	+0.023%	$4.9M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0442%	1h	266.21	+0.041%	$2K	$6K	10x	as long as short
Kraken Futures PF_BCHUSDshort	−0.0298%	1h	266.50	+0.150%	$853K	$3.1M	50x
ApeX Omni BCHUSDT	−0.0237%	1h	265.52	−0.218%	$97K	$227K	50x	as long as short
GRVT BCH_USDT_Perp	−0.0218%	8h	265.32	−0.293%	$387K	$17K	10x	as long as short
Gate BCH_USDT	−0.0140%	8h	266.38	+0.105%	$8.4M	$13.2M	75x	as long as short
Variational Omni BCH	−0.0123%	8h	265.51	−0.222%	$81K	$285K	—	as long as short
Coinbase International BCH-PERP-INTXlong	−0.0112%	1h	266.10	long leg	$236K	$2.1M	50x
Extended BCH-USD	−0.0088%	1h	266.41	+0.117%	$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	266.47	+0.138%	$72.0M	$233.4M	75x	as long as short
MEXC BCH_USDT	−0.0084%	8h	266.68	+0.218%	$69.9M	$6.8M	200x	as long as short
Bybit BCHUSDT	−0.0078%	8h	266.50	+0.150%	$39.2M	$33.2M	75x	as long as short
HTX BCH-USDT	−0.0051%	8h	266.08	−0.008%	$778K	$1.6M	75x	as long as short
SunX BCH-USDT	−0.0034%	8h	265.96	−0.053%	$2K	$1.9M	30x	as long as short
Bitget BCHUSDT	−0.0031%	8h	266.51	+0.154%	$19.1M	$29.8M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0028%	8h	266.50	+0.150%	$25.9M	$76.9M	50x	as long as short
Nado BCH-PERP	−0.0021%	1h	266.23	+0.049%	$435K	$425K	10x	as long as short
BingX BCH-USDC	−0.0012%	8h	266.37	+0.101%	—	$6.5M	—	as long as short
dYdX BCH-USD	0.0000%	1h	266.17	+0.026%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.32	+0.083%	$1.1M	$11.0M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	266.35	+0.094%	$4K	—	150x	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	266.17	+0.026%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.541%	$721	$130K	12x	as long as short
BloFin BCH-USDT	+0.0035%	8h	265.85	−0.094%	$3.9M	$4.2M	50x	as long as short
Pacifica BCH	+0.0040%	1h	266.12	+0.008%	$162K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0084%	8h	266.60	+0.188%	$8.6M	$7.6M	75x	as long as short
Lighter BCH	+0.0096%	1h	266.24	+0.051%	$366K	$478K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	266.58	+0.180%	$5.8M	$5.0M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	266.32	+0.081%	$170K	$688K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.13	−0.366%	$19K	$291K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0451%	1h	266.33	+0.086%	$25K	—	100x	as long as short