BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0407%/8h= +44.6% APRnext payment +$0.51 per $10,000 · paid last 24h +0.050%

Price spread now: Kraken Futures against Deribit+0.066%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$440.435% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now +0.066%, 7d avg +0.028%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.038% dearer against Deribit than usual: you sell high and buy low: +$4 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 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 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	269.86	−0.0294	get 0.0037% / 1h	10m 07s	$457K	$265K	25x
Short	Kraken Futures PF_BCHUSD	270.03	0.0113	get 0.0014% / 1h	10m 07s	$818K	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.066%Rate

Funding earned: $85.49
Price spread: +0.066% → +0.028%: $3.81
Slippage, 4 orders: −$26.51
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $45.78
Costs to cover: 0.435%
Break-even: 3.3 days

Slippage from Deribit: live order book, 9 min ago; Kraken Futures: 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	4.49 bp	8.2 bp −$8	13.3 bp −$133	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	5.37 bp	10.4 bp −$10	24.1 bp −$241	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	−0.0294%	1h	269.86	long leg	$457K	$265K	25x
Phemex BCHUSDT	−0.0185%	8h	269.77	−0.031%	$4.9M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0175%	1h	269.70	−0.057%	$2K	$6K	10x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	+0.128%	$721	$130K	12x	as long as short
Variational Omni BCH	−0.0124%	8h	269.61	−0.089%	$83K	$294K	—	as long as short
Bybit BCHUSDT	−0.0066%	8h	269.60	−0.094%	$39.4M	$33.0M	75x	as long as short
Extended BCH-USD	−0.0048%	1h	269.62	−0.088%	$116K	$653K	25x	as long as short
Binance BCHUSDT	−0.0046%	8h	269.72	−0.050%	$75.0M	$234.3M	75x	as long as short
MEXC BCH_USDT	−0.0045%	8h	270.34	+0.180%	$70.8M	$6.6M	200x	as long as short
dYdX BCH-USD	0.0000%	1h	269.88	+0.011%	$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	270.07	+0.080%	$1.3M	$11.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	269.85	−0.003%	$4K	—	150x	as long as short
Gate BCH_USDT	+0.0006%	8h	269.66	−0.072%	$8.4M	$14.9M	75x	as long as short
GRVT BCH_USDT_Perp	+0.0016%	8h	269.80	−0.020%	$393K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	269.96	+0.039%	$241K	$2.1M	50x	as long as short
Bitget BCHUSDT	+0.0020%	8h	269.73	−0.046%	$19.4M	$29.4M	75x	as long as short
Orderly PERP_BCH_USDC	+0.0024%	8h	269.70	−0.057%	$2K	$176	10x	as long as short
OKX BCH-USDT-SWAP	+0.0059%	8h	269.60	−0.094%	$26.4M	$78.3M	50x	as long as short
BingX BCH-USDC	+0.0064%	8h	269.76	−0.035%	—	$6.5M	—	as long as short
BloFin BCH-USDT	+0.0074%	8h	269.82	−0.013%	$4.0M	$4.2M	50x	as long as short
Nado BCH-PERP	+0.0095%	1h	269.67	−0.068%	$442K	$428K	10x	as long as short
Lighter BCH	+0.0096%	1h	269.85	−0.001%	$378K	$588K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	270.11	+0.094%	$6.0M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	269.92	+0.025%	$218K	$703K	75x	as long as short
Pacifica BCH	+0.0100%	1h	269.75	−0.038%	$164K	$467K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.86	+0.002%	$9.3M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.89	+0.011%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	269.90	+0.017%	$73K	$213K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.59	−0.098%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	269.70	−0.057%	$775K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSDshort	+0.0113%	1h	270.03	+0.066%	$818K	$3.2M	50x
GMX BCH/USD [WBTC.b-USDC]	L +0.0335% / S −0.0388%	1h	269.96	+0.039%	$26K	—	100x	as long as short