Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0525%/8h= +57.5% APRpaid last 24h +0.087%

Price spread now: Bitget against Deribit−0.088%48s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.370% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 3 days (all we have)+0.085%+$9 · spread now −0.088%, 7d avg −0.035%

Together, before fees+0.263%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.053% cheaper against Deribit than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of −0.035%). If the spread goes back, that is −$5 on $10k: about 8 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.178% in total) that is about 2.1 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.178% in total (about 9.3% 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	266.43	−0.0504	get 0.0063% / 1h	11m 34s	$450K	$266K	25x
Short	Bitget BCHUSDT	266.19	0.0021	get 0.0021% / 8h	11m 34s	$19.1M	$30.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.088%Rate

Funding earned: $110.22
Price spread: −0.088% → −0.035%: −$5.32
Slippage, 4 orders: −$18.01
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: $67.89
Costs to cover: 0.370%
Break-even: 2.7 days

Slippage from Deribit: live order book, 2 min ago; Bitget: live order book, 2 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, 2 min ago	3.96 bp	8.4 bp −$8	14.6 bp −$146	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.56 bp	9.5 bp −$10	16.4 bp −$164	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-PERPETUALlong	−0.0504%	1h	266.43	long leg	$450K	$266K	25x
SoDEX BCH-USD	−0.0314%	1h	266.22	−0.077%	$2K	$6K	10x	as long as short
Variational Omni BCH	−0.0136%	8h	266.51	+0.032%	$82K	$292K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0126%	1h	266.54	+0.045%	$843K	$3.1M	50x	as long as short
Phemex BCHUSDT	−0.0112%	8h	266.31	−0.043%	$4.9M	$6.5M	50x	as long as short
ApeX Omni BCHUSDT	−0.0108%	1h	266.44	+0.006%	$72K	$214K	50x	as long as short
Bybit BCHUSDT	−0.0079%	8h	266.30	−0.047%	$39.2M	$33.0M	75x	as long as short
Injective BCH/USDC PERP	−0.0054%	1h	270.20	+1.417%	$721	$130K	12x	as long as short
Coinbase International BCH-PERP-INTX	−0.0032%	1h	266.58	+0.058%	$224K	$2.1M	50x	as long as short
Binance BCHUSDT	−0.0024%	8h	266.17	−0.094%	$72.9M	$233.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BCH-USD	−0.0024%	1h	266.09	−0.125%	$115K	$652K	25x	as long as short
MEXC BCH_USDT	−0.0023%	8h	266.84	+0.156%	$69.9M	$6.9M	200x	as long as short
Gate BCH_USDT	−0.0001%	8h	266.31	−0.043%	$8.3M	$14.9M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	266.60	+0.064%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.94	+0.193%	$1.2M	$11.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	266.48	+0.021%	$4K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0020%	8h	266.24	−0.070%	$388K	$17K	10x	as long as short
Bitget BCHUSDTshort	+0.0021%	8h	266.19	−0.088%	$19.1M	$30.1M	75x
Nado BCH-PERP	+0.0023%	1h	266.19	−0.086%	$442K	$436K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0028%	8h	266.26	−0.062%	$2K	$176	10x	as long as short
OKX BCH-USDT-SWAP	+0.0031%	8h	266.10	−0.122%	$25.9M	$78.2M	50x	as long as short
BingX BCH-USDT	+0.0033%	8h	266.22	−0.077%	—	$31.2M	—	as long as short
Lighter BCH	+0.0096%	1h	266.29	−0.050%	$367K	$558K	10x	as long as short
BloFin BCH-USDT	+0.0098%	8h	266.34	−0.032%	$3.9M	$4.2M	50x	as long as short
Hyperliquid BCH	+0.0100%	1h	266.54	+0.043%	$6.0M	$4.5M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	266.32	−0.039%	$210K	$673K	75x	as long as short
Pacifica BCH	+0.0100%	1h	266.32	−0.039%	$162K	$431K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	266.35	−0.028%	$9.0M	$7.8M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	266.19	−0.087%	$19K	$290K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	266.28	−0.054%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	266.22	−0.077%	$774K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0332% / S −0.0451%	1h	266.54	+0.044%	$25K	—	100x	as long as short