BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0482%/8h= +52.8% APRnext payment +$0.60 per $10,000 · paid last 24h +0.083%

Price spread now: Lighter against Deribit−0.145%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 3 days (all we have)+0.270%+$27 · spread now −0.145%, 7d avg −0.015%

Together, before fees+0.371%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.130% cheaper against Deribit than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of −0.015%). If the spread goes back, that is −$13 on $10k: about 22 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.101% in total) that is about 9.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.60 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	270.29	−0.0386	get 0.0048% / 1h	52m 29s	$458K	$263K	25x
Short	Lighter BCH	269.90	0.0096	get 0.0012% / 1h	52m 29s	$378K	$583K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.145%Rate

Funding earned: $101.21
Price spread: −0.145% → −0.015%: −$13.04
Slippage, 4 orders: −$26.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $54.2
Costs to cover: 0.340%
Break-even: 3.3 days

Slippage from Deribit: live order book, 31 min ago; Lighter: live order book, 23 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, 31 min ago	4.01 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 23 min ago	3.50 bp	9.1 bp −$9	62.2 bp −$622	161.4 bp −$16.1K	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	−0.0386%	1h	270.29	long leg	$458K	$263K	25x
Phemex BCHUSDT	−0.0215%	8h	270.21	−0.030%	$4.9M	$6.3M	50x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.034%	$721	$130K	12x	as long as short
Extended BCH-USD	−0.0080%	1h	269.90	−0.143%	$117K	$653K	25x	as long as short
Binance BCHUSDT	−0.0076%	8h	270.17	−0.045%	$74.5M	$231.9M	75x	as long as short
MEXC BCH_USDT	−0.0076%	8h	270.52	+0.084%	$71.6M	$6.3M	200x	as long as short
Variational Omni BCH	−0.0071%	8h	269.23	−0.394%	$86K	$291K	—	as long as short
Bitget BCHUSDT	−0.0023%	8h	269.89	−0.149%	$20.0M	$29.0M	75x	as long as short
Gate BCH_USDT	−0.0019%	8h	269.89	−0.149%	$8.4M	$14.7M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	270.10	−0.070%	$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
Bybit BCHUSDT	0.0000%	8h	270.10	−0.071%	$39.7M	$32.6M	75x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	270.53	+0.088%	$1.2M	$11.4M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	270.36	+0.025%	$4K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0001%	8h	270.88	+0.217%	$395K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	270.47	+0.066%	$234K	$2.1M	50x	as long as short
Nado BCH-PERP	+0.0025%	1h	270.04	−0.092%	$443K	$427K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0027%	8h	270.32	+0.010%	$2K	$176	10x	as long as short
SoDEX BCH-USD	+0.0033%	1h	270.18	−0.041%	$2K	$6K	10x	as long as short
BingX BCH-USDT	+0.0038%	8h	269.99	−0.112%	—	$31.9M	—	as long as short
BloFin BCH-USDT	+0.0044%	8h	270.10	−0.071%	$4.0M	$4.1M	50x	as long as short
OKX BCH-USDT-SWAP	+0.0044%	8h	270.10	−0.071%	$26.1M	$77.3M	50x	as long as short
Lighter BCHshort	+0.0096%	1h	269.90	−0.145%	$378K	$583K	10x
Hyperliquid BCH	+0.0100%	1h	270.24	−0.019%	$6.0M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	270.14	−0.057%	$221K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	269.89	−0.149%	$170K	$455K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.89	−0.149%	$8.9M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	270.70	+0.152%	$19K	$289K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	270.06	−0.086%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	270.14	−0.056%	$786K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0112%	1h	270.42	+0.049%	$808K	$3.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0341% / S −0.0467%	1h	270.39	+0.034%	$26K	—	100x	as long as short
ApeX Omni BCHUSDT	+0.0876%	1h	270.85	+0.206%	$74K	$214K	50x	as long as short