Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h +0.001%

Price spread now: Coinbase International against GRVT−0.384%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.384%, 7d avg +0.031%

Together, before fees+0.275%+ Points / potential airdropGRVT: Active · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.415% cheaper against GRVT than usual: you would sell low and buy high (spread −0.384% now, against its 7-day average of +0.031%). If the spread goes back, that is −$41 on $10k: about 3 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.003% in total) that is about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BCH_USDT_Perp	270.88	0.0001	pay 0.0001% / 8h	1h 51m	$395K	$17K	10x
Short	Coinbase International BCH-PERP-INTX	269.84	0.0016	get 0.0002% / 1h	51m 05s	$232K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now −0.384%Rate

Funding earned: $3.15
Price spread: −0.384% → +0.031%: −$41.49
Slippage, 4 orders: −$27.42
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$84.76
Costs to cover: 0.464%
Break-even: 195.4 days

Slippage from GRVT: live order book, 31 min ago; Coinbase International: live order book, 3 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 GRVT live order book, 31 min ago	0.56 bp	9.5 bp −$9	18.5 bp −$185	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	5.55 bp	14.5 bp −$14	19.8 bp −$198	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-PERPETUAL	−0.0498%	1h	270.02	−0.317%	$458K	$263K	25x	as long as short
Phemex BCHUSDT	−0.0208%	8h	269.93	−0.351%	$4.9M	$6.3M	50x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.251%	$721	$130K	12x	as long as short
Extended BCH-USD	−0.0080%	1h	269.80	−0.398%	$116K	$653K	25x	as long as short
Binance BCHUSDT	−0.0077%	8h	269.82	−0.391%	$75.1M	$232.0M	75x	as long as short
MEXC BCH_USDT	−0.0076%	8h	270.50	−0.140%	$71.6M	$6.3M	200x	as long as short
Variational Omni BCH	−0.0071%	8h	269.23	−0.610%	$86K	$291K	—	as long as short
SoDEX BCH-USD	−0.0045%	1h	269.87	−0.373%	$2K	$6K	10x	as long as short
Bitget BCHUSDT	−0.0023%	8h	269.75	−0.417%	$20.0M	$29.0M	75x	as long as short
Gate BCH_USDT	−0.0021%	8h	269.82	−0.391%	$8.4M	$14.7M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BCHUSDT	−0.0002%	8h	269.70	−0.435%	$39.7M	$32.6M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	270.00	−0.326%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	270.12	−0.280%	$1.1M	$11.4M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	270.06	−0.302%	$4K	—	150x	as long as short
GRVT BCH_USDT_Perplong	+0.0001%	8h	270.88	long leg	$395K	$17K	10x
Coinbase International BCH-PERP-INTXshort	+0.0016%	1h	269.84	−0.384%	$232K	$2.1M	50x
Orderly PERP_BCH_USDC	+0.0026%	8h	269.96	−0.339%	$2K	$176	10x	as long as short
Nado BCH-PERP	+0.0032%	1h	269.85	−0.381%	$443K	$427K	10x	as long as short
BingX BCH-USDC	+0.0038%	8h	269.75	−0.417%	—	$6.5M	—	as long as short
BloFin BCH-USDT	+0.0043%	8h	269.71	−0.432%	$4.0M	$4.1M	50x	as long as short
OKX BCH-USDT-SWAP	+0.0045%	8h	269.70	−0.435%	$26.1M	$77.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	269.83	−0.386%	$378K	$583K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	270.12	−0.280%	$6.0M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	269.89	−0.365%	$220K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	269.89	−0.365%	$170K	$455K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.95	−0.343%	$8.9M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	270.22	−0.242%	$19K	$289K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.69	−0.439%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	269.72	−0.428%	$785K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0113%	1h	270.15	−0.271%	$807K	$3.2M	50x	as long as short
ApeX Omni BCHUSDT	+0.0341%	1h	270.36	−0.192%	$73K	$214K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0341% / S −0.0467%	1h	270.15	−0.270%	$26K	—	100x	as long as short