Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.026%

Price spread now: BloFin against GMX−0.230%51s7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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 −$4 a day on $10k at the current rate, and BloFin is 0.230% cheaper against GMX than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BCH/USD [WBTC.b-USDC]	263.25	L +0.0202% / S −0.0147%	pay 0.0025% / 1h	22m 14s	$12K	—	100x
Short	BloFin BCH-USDT	262.64	0.0068	get 0.0068% / 8h	2h 22m	$3.9M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now −0.230%Rate

Funding earned: −$28.04
Price spread: −0.230% → 0.000%: −$22.98
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$75.02
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 6 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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 6 min ago	4.39 bp	12.7 bp −$13	18.4 bp −$184	43.9 bp −$4,392	doesn't fit

GMX: 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
HTX BCH-USDT	−0.0233%	8h	263.17	−0.029%	$768K	$1.4M	75x	as long as short
SoDEX BCH-USD	−0.0221%	1h	263.36	+0.044%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0160%	8h	263.43	+0.070%	$4.9M	$6.6M	50x	as long as short
Bitget BCHUSDT	−0.0110%	8h	263.39	+0.055%	$18.9M	$28.7M	75x	as long as short
KuCoin BCHUSDTM	−0.0098%	8h	263.45	+0.078%	$8.4M	$6.8M	75x	as long as short
SunX BCH-USDT	−0.0082%	8h	263.22	−0.010%	$2K	$1.7M	30x	as long as short
Variational Omni BCH	−0.0075%	8h	261.71	−0.584%	$80K	$196K	—	as long as short
OKX BCH-USDT-SWAP	−0.0075%	8h	263.50	+0.097%	$25.0M	$77.4M	50x	as long as short
Nado BCH-PERP	−0.0059%	1h	262.97	−0.105%	$432K	$354K	10x	as long as short
Extended BCH-USD	−0.0056%	1h	263.28	+0.014%	$111K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0052%	8h	263.39	+0.055%	$72.7M	$220.2M	75x	as long as short
MEXC BCH_USDT	−0.0051%	8h	263.76	+0.196%	$69.7M	$8.3M	200x	as long as short
Coinbase International BCH-PERP-INTX	−0.0040%	1h	263.32	+0.028%	$218K	$1.8M	50x	as long as short
Bybit BCHUSDT	−0.0031%	8h	263.50	+0.097%	$38.8M	$31.7M	75x	as long as short
BingX BCH-USDC	−0.0028%	8h	263.13	−0.044%	—	$6.5M	—	as long as short
GRVT BCH_USDT_Perp	−0.0023%	8h	262.99	−0.096%	$383K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	263.23	−0.004%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	262.76	−0.186%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	263.12	−0.047%	$978K	$10.5M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	263.48	+0.088%	$439K	$333K	25x	as long as short
Gate BCH_USDT	+0.0021%	8h	263.15	−0.036%	$8.3M	$13.8M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.642%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0045%	8h	263.33	+0.032%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0062%	8h	263.33	+0.031%	$153K	$556K	75x	as long as short
BloFin BCH-USDTshort	+0.0068%	8h	262.64	−0.230%	$3.9M	$4.4M	50x
Lighter BCH	+0.0096%	1h	263.41	+0.062%	$352K	$497K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	263.31	+0.025%	$5.6M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	262.90	−0.130%	$158K	$306K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	261.63	−0.615%	$18K	$327K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	261.68	−0.595%	$94K	$236K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0180%	1h	263.50	+0.098%	$842K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]long	L +0.0202% / S −0.0147%	1h	263.25	long leg	$12K	—	100x