Funding you earn now, next payment 23:00 UTC+0.0426%/8h= +46.6% APRnext payment +$0.53 per $10,000 · paid last 24h +0.068%
Price spread now: Coinbase International against Deribit−0.117%7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$420.425% of the position
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 3 days (all we have)+0.029%+$3 · spread now −0.117%, 7d avg +0.010%
=Funding pays, the price is against you. Coinbase International is 0.127% cheaper against Deribit than usual: you would sell low and buy high (spread −0.117% now, against its 7-day average of +0.010%). If the spread goes back, that is −$13 on $10k: about 24 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.160% in total) that is about 5.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.160% in total (about 8.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 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 | Deribit BCH_USDC-PERPETUAL | 266.89 | −0.0458 | get 0.0057% / 1h | 8m 12s | $451K | $266K | 25x |
| Short | Coinbase International BCH-PERP-INTX | 266.58 | −0.0032 | pay 0.0004% / 1h | 8m 12s | $224K | $2.1M | 50x |
Deribit BCH_USDC-PERPETUAL
Coinbase International BCH-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $89.39
- Price spread: −0.117% → +0.010%
- −$12.69
- Slippage, 4 orders
- −$25.48
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $34.21
- Costs to cover
- 0.425%
- Break-even
- 4.3 days
Slippage from Deribit: live order book, 6 min ago; Coinbase International: live order book, 1 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, 6 min ago | 3.96 bp | 8.4 bp −$8 | 14.6 bp −$146 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 1 min ago | 4.12 bp | 11.4 bp −$11 | 16.8 bp −$168 | 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 | −0.0458% | 1h | 266.89 | long leg | $451K | $266K | 25x | |
| SoDEX BCH-USD | −0.0333% | 1h | 266.74 | −0.057% | $2K | $6K | 10x | as long as short |
| Variational Omni BCH | −0.0136% | 8h | 266.11 | −0.292% | $82K | $292K | — | as long as short |
| Kraken Futures PF_BCHUSD | −0.0126% | 1h | 267.00 | +0.042% | $841K | $3.1M | 50x | as long as short |
| Phemex BCHUSDT | −0.0117% | 8h | 266.71 | −0.068% | $4.9M | $6.5M | 50x | as long as short |
| ApeX Omni BCHUSDT | −0.0108% | 1h | 266.44 | −0.169% | $72K | $214K | 50x | as long as short |
| Bybit BCHUSDT | −0.0076% | 8h | 266.76 | −0.049% | $39.2M | $33.0M | 75x | as long as short |
| Injective BCH/USDC PERP | −0.0054% | 1h | 270.20 | +1.239% | $721 | $130K | 12x | as long as short |
| Coinbase International BCH-PERP-INTXshort | −0.0032% | 1h | 266.58 | −0.117% | $224K | $2.1M | 50x | |
| Binance BCHUSDT | −0.0025% | 8h | 266.79 | −0.038% | $73.0M | $232.9M | 75x | as long as short |
SoDEX BCH-USD
Variational Omni BCH
Kraken Futures PF_BCHUSD
Phemex BCHUSDT
ApeX Omni BCHUSDT
Bybit BCHUSDT
Injective BCH/USDC PERP
Binance BCHUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BCH_USDT | −0.0025% | 8h | 267.23 | +0.127% | $70.0M | $6.9M | 200x | as long as short |
| Extended BCH-USD | −0.0024% | 1h | 266.63 | −0.098% | $115K | $652K | 25x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 266.60 | −0.111% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 267.05 | +0.059% | $1.2M | $11.7M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 266.95 | +0.023% | $4K | — | 150x | as long as short |
| Gate BCH_USDT | +0.0001% | 8h | 266.81 | −0.031% | $8.3M | $14.9M | 75x | as long as short |
| Nado BCH-PERP | +0.0015% | 1h | 266.65 | −0.091% | $442K | $434K | 10x | as long as short |
| GRVT BCH_USDT_Perp | +0.0020% | 8h | 266.27 | −0.234% | $388K | $17K | 10x | as long as short |
| Bitget BCHUSDT | +0.0021% | 8h | 266.71 | −0.068% | $19.1M | $30.1M | 75x | as long as short |
| Orderly PERP_BCH_USDC | +0.0028% | 8h | 266.75 | −0.053% | $2K | $176 | 10x | as long as short |
| OKX BCH-USDT-SWAP | +0.0028% | 8h | 266.70 | −0.072% | $26.0M | $78.5M | 50x | as long as short |
| BingX BCH-USDC | +0.0033% | 8h | 266.75 | −0.053% | — | $6.5M | — | as long as short |
| BloFin BCH-USDT | +0.0094% | 8h | 266.48 | −0.154% | $3.9M | $4.2M | 50x | as long as short |
| Lighter BCH | +0.0096% | 1h | 266.84 | −0.018% | $368K | $558K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 267.09 | +0.074% | $6.0M | $4.5M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 266.81 | −0.030% | $211K | $673K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 266.63 | −0.098% | $162K | $429K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 266.89 | −0.001% | $9.0M | $7.8M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 266.19 | −0.262% | $19K | $290K | 20x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 266.45 | −0.166% | $2K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 266.48 | −0.154% | $774K | $1.6M | 75x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0332% / S −0.0451% | 1h | 266.93 | +0.014% | $25K | — | 100x | as long as short |
MEXC BCH_USDT
Extended BCH-USD
dYdX BCH-USD
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Gate BCH_USDT
Nado BCH-PERP
GRVT BCH_USDT_Perp
Bitget BCHUSDT
Orderly PERP_BCH_USDC
OKX BCH-USDT-SWAP
BingX BCH-USDC
BloFin BCH-USDT
Lighter BCH
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
SunX BCH-USDT
HTX BCH-USDT
GMX BCH/USD [WBTC.b-USDC]