Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0339%/8h= +37.1% APRpaid last 24h +0.079%

Price spread now: Binance against Deribit−0.119%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 3 days (all we have)+0.170%+$17 · spread now −0.119%, 7d avg −0.024%

Together, before fees+0.296%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.095% cheaper against Deribit than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.024%). If the spread goes back, that is −$10 on $10k: about 22 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.126% in total) that is about 5.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.126% in total (about 6.6% 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	Deribit BCH_USDC-PERPETUAL	272.08	−0.0400	get 0.0050% / 1h	40m 29s	$461K	$265K	25x
Short	Binance BCHUSDT	271.76	−0.0061	pay 0.0061% / 8h	1h 40m	$75.7M	$232.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.119%Rate

Funding earned: $71.13
Price spread: −0.119% → −0.024%: −$9.52
Slippage, 4 orders: −$17.93
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $26.67
Costs to cover: 0.349%
Break-even: 4.4 days

Slippage from Deribit: live order book, 43 min ago; Binance: live order book, 3 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 Deribit live order book, 43 min ago	4.01 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.18 bp	5.7 bp −$6	13.9 bp −$139	44.1 bp −$4,413	131.4 bp −$65.7K

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-PERPETUALlong	−0.0400%	1h	272.08	long leg	$461K	$265K	25x
Phemex BCHUSDT	−0.0221%	8h	271.92	−0.060%	$5.0M	$6.3M	50x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.692%	$721	$130K	12x	as long as short
Variational Omni BCH	−0.0073%	8h	270.32	−0.647%	$86K	$291K	—	as long as short
Extended BCH-USD	−0.0064%	1h	271.73	−0.131%	$117K	$653K	25x	as long as short
MEXC BCH_USDT	−0.0063%	8h	272.49	+0.149%	$71.9M	$6.4M	200x	as long as short
Binance BCHUSDTshort	−0.0061%	8h	271.76	−0.119%	$75.7M	$232.5M	75x
SoDEX BCH-USD	−0.0044%	1h	271.98	−0.038%	$2K	$6K	10x	as long as short
Gate BCH_USDT	−0.0015%	8h	271.83	−0.093%	$8.4M	$14.7M	75x	as long as short
Bitget BCHUSDT	−0.0009%	8h	271.79	−0.108%	$20.1M	$29.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BCHUSDT	−0.0003%	8h	271.70	−0.141%	$39.9M	$32.7M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	271.98	−0.038%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	272.60	+0.190%	$1.1M	$11.6M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	272.09	+0.003%	$5K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0007%	8h	270.52	−0.573%	$394K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	272.31	+0.083%	$235K	$2.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0026%	8h	271.96	−0.046%	$2K	$176	10x	as long as short
BloFin BCH-USDT	+0.0056%	8h	272.01	−0.027%	$4.0M	$4.2M	50x	as long as short
BingX BCH-USDT	+0.0058%	8h	271.92	−0.060%	—	$30.5M	—	as long as short
OKX BCH-USDT-SWAP	+0.0063%	8h	271.80	−0.104%	$26.3M	$78.4M	50x	as long as short
Nado BCH-PERP	+0.0091%	1h	271.70	−0.139%	$446K	$427K	10x	as long as short
Lighter BCH	+0.0096%	1h	271.89	−0.070%	$380K	$584K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	272.17	+0.032%	$6.1M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	272.01	−0.029%	$222K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	271.88	−0.076%	$165K	$468K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	271.95	−0.049%	$9.0M	$7.9M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	271.41	−0.249%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	270.72	−0.501%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	271.77	−0.115%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	272.05	−0.012%	$792K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0112%	1h	272.15	+0.024%	$812K	$3.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0342% / S −0.0467%	1h	272.16	+0.030%	$26K	—	100x	as long as short