Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.008%

Price spread now: Phemex against Extended+0.081%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$310.312% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.081%, 7d avg +0.058%

Together, before fees−0.043%+ Points / potential airdropExtended: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.024% dearer against Extended than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of +0.058%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BCH-USD	263.63	−0.0064	get 0.0008% / 1h	11m 42s	$115K	$1.1M	25x
Short	Phemex BCHUSDT	263.84	−0.0232	pay 0.0232% / 8h	3h 11m	$4.9M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$35.26
Price spread: +0.081% → +0.058%: $2.36
Slippage, 4 orders: −$14.24
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$64.13
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Phemex: 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 Extended live order book, 1 min ago	0.95 bp	7.2 bp −$7	98.8 bp −$988	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.19 bp	8.5 bp −$8	15.5 bp −$155	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
SoDEX BCH-USD	−0.0298%	1h	263.81	+0.070%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0240%	8h	264.18	+0.210%	$770K	$1.4M	75x	as long as short
Phemex BCHUSDTshort	−0.0232%	8h	263.84	+0.081%	$4.9M	$6.4M	50x
Nado BCH-PERP	−0.0179%	1h	264.05	+0.161%	$429K	$347K	10x	as long as short
SunX BCH-USDT	−0.0160%	8h	263.71	+0.032%	$2K	$1.7M	30x	as long as short
KuCoin BCHUSDTM	−0.0101%	8h	264.07	+0.169%	$8.5M	$6.8M	75x	as long as short
Bitget BCHUSDT	−0.0092%	8h	263.89	+0.100%	$18.8M	$28.3M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0086%	8h	263.90	+0.104%	$25.1M	$76.2M	50x	as long as short
Binance BCHUSDT	−0.0066%	8h	264.01	+0.145%	$71.7M	$216.0M	75x	as long as short
MEXC BCH_USDT	−0.0066%	8h	264.48	+0.324%	$70.0M	$7.9M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BCH-USDlong	−0.0064%	1h	263.63	long leg	$115K	$1.1M	25x
Coinbase International BCH-PERP-INTX	−0.0064%	1h	264.17	+0.207%	$217K	$1.8M	50x	as long as short
Variational Omni BCH	−0.0061%	8h	264.40	+0.295%	$81K	$196K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0052%	1h	264.06	+0.164%	$854K	$3.0M	50x	as long as short
GRVT BCH_USDT_Perp	−0.0043%	8h	264.66	+0.392%	$386K	$17K	10x	as long as short
Gate BCH_USDT	−0.0037%	8h	264.00	+0.142%	$8.3M	$13.7M	75x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0004%	1h	263.95	+0.125%	$441K	$331K	25x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.07	+0.169%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	264.10	+0.181%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	264.35	+0.275%	$991K	$10.4M	2.7x	as long as short
Bybit BCHUSDT	+0.0008%	8h	263.90	+0.104%	$38.9M	$31.3M	75x	as long as short
BingX BCH-USDT	+0.0010%	8h	263.98	+0.135%	—	$32.9M	—	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.494%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	263.84	+0.081%	$2K	$176	10x	as long as short
BloFin BCH-USDT	+0.0053%	8h	264.19	+0.214%	$3.9M	$4.4M	50x	as long as short
Aster BCHUSDT	+0.0082%	8h	264.21	+0.223%	$150K	$546K	75x	as long as short
Lighter BCH	+0.0096%	1h	264.07	+0.170%	$355K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	264.27	+0.245%	$5.7M	$4.6M	10x	as long as short
Pacifica BCH	+0.0100%	1h	264.07	+0.169%	$159K	$305K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.54	+0.346%	$18K	$323K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.12	+0.567%	$97K	$234K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0232% / S −0.0180%	1h	263.97	+0.131%	$12K	—	100x	as long as short