Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0381%/8h= +41.7% APRpaid last 24h +0.078%

Price spread now: Bybit against Deribit−0.041%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.168%+$17 on $10k

Price spread, last 3 days (all we have)+0.080%+$8 · spread now −0.041%, 7d avg −0.039%

Together, before fees+0.248%+$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.168% in total (about 8.8% 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	268.65	−0.0394	get 0.0049% / 1h	15m 01s	$439K	$247K	25x
Short	Bybit BCHUSDT	268.54	−0.0012	pay 0.0012% / 8h	2h 15m	$39.5M	$32.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: $80.07
Price spread: −0.041% → −0.039%: −$0.2
Slippage, 4 orders: −$28.14
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $33.72
Costs to cover: 0.461%
Break-even: 4.1 days

Slippage from Deribit: live order book, 9 min ago; Bybit: 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 Deribit live order book, 9 min ago	4.01 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.86 bp	12.5 bp −$13	20.1 bp −$201	76.4 bp −$7,636	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	−0.0394%	1h	268.65	long leg	$439K	$247K	25x
Injective BCH/USDC PERP	−0.0304%	1h	268.50	−0.056%	$716	$110K	12x	as long as short
Phemex BCHUSDT	−0.0192%	8h	268.59	−0.023%	$4.9M	$6.3M	50x	as long as short
SoDEX BCH-USD	−0.0131%	1h	268.55	−0.038%	$2K	$6K	10x	as long as short
MEXC BCH_USDT	−0.0099%	8h	269.25	+0.223%	$71.4M	$6.4M	200x	as long as short
Binance BCHUSDT	−0.0098%	8h	268.63	−0.008%	$74.1M	$229.4M	75x	as long as short
Extended BCH-USD	−0.0096%	1h	268.50	−0.056%	$115K	$653K	25x	as long as short
Variational Omni BCH	−0.0069%	8h	268.54	−0.042%	$85K	$291K	—	as long as short
Bitget BCHUSDT	−0.0039%	8h	268.59	−0.023%	$19.9M	$28.9M	75x	as long as short
Coinbase International BCH-PERP-INTX	−0.0024%	1h	269.02	+0.137%	$243K	$2.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BCH_USDT_Perp	−0.0023%	8h	268.72	+0.026%	$392K	$17K	10x	as long as short
Gate BCH_USDT	−0.0019%	8h	268.67	+0.007%	$8.4M	$14.4M	75x	as long as short
Bybit BCHUSDTshort	−0.0012%	8h	268.54	−0.041%	$39.5M	$32.1M	75x
dYdX BCH-USD	0.0000%	1h	268.72	+0.027%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.96	+0.115%	$1.1M	$11.3M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.76	+0.041%	$4K	—	150x	as long as short
BingX BCH-USDC	+0.0018%	8h	268.69	+0.015%	—	$6.5M	—	as long as short
OKX BCH-USDT-SWAP	+0.0022%	8h	268.60	−0.019%	$26.3M	$76.1M	50x	as long as short
BloFin BCH-USDT	+0.0022%	8h	268.64	−0.004%	$4.0M	$4.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0027%	8h	268.55	−0.038%	$2K	$176	10x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	268.87	+0.080%	$806K	$3.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	268.74	+0.032%	$377K	$581K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	268.45	−0.075%	$439K	$425K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	269.00	+0.130%	$6.0M	$4.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	268.76	+0.041%	$236K	$660K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.51	−0.051%	$169K	$460K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	268.72	+0.026%	$8.9M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	268.68	+0.009%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	268.74	+0.033%	$73K	$213K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	268.35	−0.112%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	268.51	−0.052%	$773K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0372% / S −0.0574%	1h	268.71	+0.023%	$26K	—	100x	as long as short