Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.115%

Price spread now: BloFin against Deribit−0.220%57s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as 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−$410.414% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.366%+$37 on $10k

Price spread, last 3 days (all we have)+0.221%+$22 · spread now −0.220%, 7d avg −0.028%

Together, before fees+0.587%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.193% cheaper against Deribit than usual: you would sell low and buy high (spread −0.220% now, against its 7-day average of −0.028%). If the spread goes back, that is −$19 on $10k: about 12 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.366% in total) that is about 3.7 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BCH_USDC-PERPETUAL	272.19	0	get 0.0000% / 1h	42m 03s	$461K	$265K	25x
Short	BloFin BCH-USDT	271.59	0.0055	get 0.0055% / 8h	1h 42m	$4.0M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now −0.220%Rate

Funding earned: $11.47
Price spread: −0.220% → −0.028%: −$19.25
Slippage, 4 orders: −$22.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$49.15
Costs to cover: 0.414%
Break-even: 37.0 days

Slippage from Deribit: live order book, 42 min ago; BloFin: live order book, 6 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, 42 min ago	4.01 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.19 bp	10.8 bp −$11	21.9 bp −$219	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
Phemex BCHUSDT	−0.0221%	8h	271.97	−0.081%	$5.0M	$6.3M	50x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.731%	$721	$130K	12x	as long as short
Variational Omni BCH	−0.0073%	8h	270.32	−0.685%	$86K	$291K	—	as long as short
Binance BCHUSDT	−0.0065%	8h	272.34	+0.056%	$75.8M	$232.4M	75x	as long as short
MEXC BCH_USDT	−0.0065%	8h	272.76	+0.209%	$72.0M	$6.4M	200x	as long as short
Extended BCH-USD	−0.0064%	1h	272.19	0.000%	$117K	$653K	25x	as long as short
SoDEX BCH-USD	−0.0037%	1h	272.00	−0.070%	$2K	$6K	10x	as long as short
Bitget BCHUSDT	−0.0012%	8h	272.26	+0.026%	$20.2M	$29.0M	75x	as long as short
Gate BCH_USDT	−0.0008%	8h	272.06	−0.048%	$8.5M	$14.7M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	271.83	−0.134%	$5K	$248	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXBCHPERP	0.0000%	8h	272.04	−0.055%	$1.1M	$11.6M	2.7x	as long as short
Deribit BCH_USDC-PERPETUALlong	0.0000%	1h	272.19	long leg	$461K	$265K	25x
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	272.16	−0.012%	$5K	—	150x	as long as short
Bybit BCHUSDT	+0.0002%	8h	272.11	−0.029%	$39.9M	$32.7M	75x	as long as short
GRVT BCH_USDT_Perp	+0.0007%	8h	270.52	−0.612%	$394K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	271.57	−0.228%	$234K	$2.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0026%	8h	272.04	−0.055%	$2K	$176	10x	as long as short
BingX BCH-USDT	+0.0049%	8h	272.06	−0.048%	—	$30.5M	—	as long as short
BloFin BCH-USDTshort	+0.0055%	8h	271.59	−0.220%	$4.0M	$4.2M	50x
OKX BCH-USDT-SWAP	+0.0061%	8h	272.20	+0.004%	$26.5M	$78.4M	50x	as long as short
Nado BCH-PERP	+0.0072%	1h	271.81	−0.138%	$447K	$427K	10x	as long as short
Lighter BCH	+0.0096%	1h	272.08	−0.041%	$381K	$583K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	272.38	+0.070%	$6.1M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	272.13	−0.022%	$222K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	271.84	−0.128%	$165K	$468K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	272.33	+0.051%	$9.0M	$7.9M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	270.49	−0.624%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	270.72	−0.540%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	271.83	−0.132%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	271.91	−0.103%	$792K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0112%	1h	272.28	+0.034%	$813K	$3.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0342% / S −0.0467%	1h	272.25	+0.023%	$26K	—	100x	as long as short