BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0672%/8h= +73.5% APRnext payment +$0.84 per $10,000 · paid last 24h +0.085%

Price spread now: Hyperliquid against Deribit+0.102%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.102%, 7d avg +0.028%

Together, before fees+0.172%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Hyperliquid is 0.074% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.028%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.202% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.84 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	269.96	−0.0572	get 0.0071% / 1h	50m 00s	$458K	$263K	25x
Short	Hyperliquid BCH	270.24	0.0100	get 0.0013% / 1h	50m 00s	$6.0M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.102%Rate

Funding earned: $141.05
Price spread: +0.102% → +0.028%: $7.42
Slippage, 4 orders: −$20.34
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $112.12
Costs to cover: 0.363%
Break-even: 1.4 days

Slippage from Deribit: live order book, 34 min ago; Hyperliquid: 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, 34 min ago	4.01 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	0.93 bp	7.9 bp −$8	doesn't fit	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	−0.0572%	1h	269.96	long leg	$458K	$263K	25x
Phemex BCHUSDT	−0.0209%	8h	269.97	+0.002%	$4.9M	$6.3M	50x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	+0.087%	$721	$130K	12x	as long as short
Extended BCH-USD	−0.0080%	1h	269.81	−0.058%	$116K	$653K	25x	as long as short
Binance BCHUSDT	−0.0077%	8h	269.88	−0.031%	$75.1M	$232.0M	75x	as long as short
MEXC BCH_USDT	−0.0076%	8h	270.56	+0.221%	$71.6M	$6.3M	200x	as long as short
Variational Omni BCH	−0.0071%	8h	269.63	−0.125%	$86K	$291K	—	as long as short
SoDEX BCH-USD	−0.0044%	1h	269.87	−0.035%	$2K	$6K	10x	as long as short
Bitget BCHUSDT	−0.0022%	8h	270.00	+0.013%	$20.0M	$29.0M	75x	as long as short
Gate BCH_USDT	−0.0018%	8h	269.88	−0.031%	$8.4M	$14.7M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BCH-USD	0.0000%	1h	270.17	+0.077%	$5K	$248	10x	as long as short
Bybit BCHUSDT	0.0000%	8h	269.80	−0.061%	$39.7M	$32.6M	75x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	270.43	+0.173%	$1.1M	$11.5M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	269.96	−0.003%	$4K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0001%	8h	270.88	+0.339%	$395K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	269.84	−0.046%	$232K	$2.1M	50x	as long as short
Nado BCH-PERP	+0.0024%	1h	270.07	+0.040%	$443K	$427K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0026%	8h	269.80	−0.061%	$2K	$176	10x	as long as short
BloFin BCH-USDT	+0.0043%	8h	269.71	−0.094%	$4.0M	$4.1M	50x	as long as short
BingX BCH-USDT	+0.0044%	8h	269.87	−0.035%	—	$32.0M	—	as long as short
OKX BCH-USDT-SWAP	+0.0047%	8h	269.80	−0.061%	$26.1M	$77.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	269.94	−0.007%	$378K	$583K	10x	as long as short
Hyperliquid BCHshort	+0.0100%	1h	270.24	+0.102%	$6.0M	$4.2M	10x
Aster BCHUSDT	+0.0100%	8h	269.89	−0.027%	$220K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	270.21	+0.089%	$170K	$455K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	270.00	+0.013%	$8.9M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	270.22	+0.096%	$19K	$289K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.73	−0.087%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	269.84	−0.046%	$786K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0113%	1h	270.12	+0.059%	$807K	$3.2M	50x	as long as short
ApeX Omni BCHUSDT	+0.0341%	1h	270.36	+0.147%	$73K	$214K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0341% / S −0.0467%	1h	270.11	+0.055%	$26K	—	100x	as long as short