Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0334%/8h= −36.6% APRpaid last 24h −0.005%

Price spread now: Phemex against dYdX−0.027%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phemex is 0.027% cheaper against dYdX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BCH-USD	263.93	0	get 0.0000% / 1h	49m 19s	$5K	$248	10x
Short	Phemex BCHUSDT	263.86	−0.0334	pay 0.0334% / 8h	4h 49m	$4.9M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$70.11
Price spread: −0.027% → 0.000%: −$2.7
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$94.81
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Phemex: live order book, 5 min ago. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	1.51 bp	8.9 bp −$9	18.8 bp −$188	doesn't fit	doesn't fit

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
SunX BCH-USDT	−0.0799%	8h	263.34	−0.224%	$1K	$1.7M	30x	as long as short
SoDEX BCH-USD	−0.0396%	1h	263.89	−0.016%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0340%	8h	263.85	−0.031%	$769K	$1.4M	75x	as long as short
Phemex BCHUSDTshort	−0.0334%	8h	263.86	−0.027%	$4.9M	$6.4M	50x
Nado BCH-PERP	−0.0198%	1h	263.45	−0.182%	$419K	$338K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0114%	8h	264.97	+0.393%	$386K	$17K	10x	as long as short
Binance BCHUSDT	−0.0105%	8h	263.41	−0.197%	$71.7M	$213.4M	75x	as long as short
Gate BCH_USDT	−0.0105%	8h	263.44	−0.186%	$8.2M	$13.3M	75x	as long as short
MEXC BCH_USDT	−0.0105%	8h	263.80	−0.050%	$69.8M	$7.4M	200x	as long as short
Extended BCH-USD	−0.0104%	1h	263.29	−0.244%	$111K	$951K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0104%	1h	264.21	+0.106%	$220K	$1.8M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0093%	8h	263.30	−0.239%	$24.8M	$73.8M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0091%	1h	263.56	−0.139%	$441K	$331K	25x	as long as short
Variational Omni BCH	−0.0089%	8h	263.90	−0.010%	$81K	$201K	—	as long as short
KuCoin BCHUSDTM	−0.0089%	8h	263.43	−0.190%	$8.5M	$7.1M	75x	as long as short
ApeX Omni BCHUSDT	−0.0080%	1h	264.13	+0.075%	$96K	$228K	50x	as long as short
Bitget BCHUSDT	−0.0076%	8h	263.36	−0.216%	$18.9M	$28.1M	75x	as long as short
Bybit BCHUSDT	−0.0035%	8h	263.40	−0.201%	$38.9M	$30.9M	75x	as long as short
BingX BCH-USDT	−0.0025%	8h	263.43	−0.190%	—	$32.1M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	263.68	−0.097%	$15K	—	150x	as long as short
dYdX BCH-USDlong	0.0000%	1h	263.93	long leg	$5K	$248	10x
Kalshi KXBCHPERP	0.0000%	8h	264.35	+0.159%	$1.0M	$10.2M	2.7x	as long as short
Kraken Futures PF_BCHUSD	+0.0011%	1h	263.58	−0.133%	$845K	$3.0M	50x	as long as short
BloFin BCH-USDT	+0.0015%	8h	264.27	+0.128%	$3.9M	$4.2M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.375%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0035%	8h	263.36	−0.216%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	263.63	−0.114%	$160K	$306K	10x	as long as short
Lighter BCH	+0.0096%	1h	263.65	−0.106%	$361K	$482K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	263.73	−0.076%	$5.7M	$4.6M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	263.77	−0.063%	$167K	$520K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.82	+0.337%	$19K	$290K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0356% / S −0.0525%	1h	263.58	−0.132%	$25K	—	100x	as long as short