Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.006%

Price spread now: Binance against Hyperliquid−0.137%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 7 days+0.123%+$12 · spread now −0.137%, 7d avg −0.031%

Together, before fees+0.047%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.105% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BCH	270.62	0.0100	pay 0.0013% / 1h	2m 57s	$6.1M	$4.2M	10x
Short	Binance BCHUSDT	270.25	−0.0039	pay 0.0039% / 8h	1h 02m	$75.2M	$234.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.137%Rate

Funding earned: −$29.12
Price spread: −0.137% → −0.031%: −$10.52
Slippage, 4 orders: −$11.12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$69.77
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Binance: live order book, 11 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 Hyperliquid live order book, 9 min ago	1.48 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.19 bp	6.6 bp −$7	14.0 bp −$140	40.9 bp −$4,085	125.1 bp −$62.5K

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	−0.0249%	1h	270.51	−0.041%	$459K	$265K	25x	as long as short
Phemex BCHUSDT	−0.0191%	8h	270.39	−0.085%	$4.9M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0169%	1h	270.35	−0.100%	$2K	$6K	10x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.155%	$721	$130K	12x	as long as short
Variational Omni BCH	−0.0126%	8h	269.81	−0.298%	$83K	$294K	—	as long as short
Bybit BCHUSDT	−0.0068%	8h	270.14	−0.177%	$39.5M	$33.1M	75x	as long as short
Extended BCH-USD	−0.0040%	1h	270.12	−0.186%	$116K	$653K	25x	as long as short
MEXC BCH_USDT	−0.0040%	8h	270.88	+0.096%	$71.0M	$6.7M	200x	as long as short
Binance BCHUSDTshort	−0.0039%	8h	270.25	−0.137%	$75.2M	$234.7M	75x
dYdX BCH-USD	0.0000%	1h	270.57	−0.018%	$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
Kalshi KXBCHPERP	0.0000%	8h	270.85	+0.085%	$1.3M	$11.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	270.55	−0.025%	$4K	—	150x	as long as short
Gate BCH_USDT	+0.0014%	8h	270.30	−0.118%	$8.4M	$14.9M	75x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	270.48	−0.052%	$241K	$2.1M	50x	as long as short
GRVT BCH_USDT_Perp	+0.0017%	8h	269.98	−0.238%	$393K	$17K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0024%	8h	270.33	−0.107%	$2K	$176	10x	as long as short
Bitget BCHUSDT	+0.0029%	8h	270.26	−0.133%	$19.6M	$29.6M	75x	as long as short
BingX BCH-USDT	+0.0059%	8h	270.41	−0.078%	—	$30.5M	—	as long as short
OKX BCH-USDT-SWAP	+0.0060%	8h	270.20	−0.155%	$26.6M	$78.8M	50x	as long as short
BloFin BCH-USDT	+0.0081%	8h	270.28	−0.126%	$4.0M	$4.2M	50x	as long as short
Nado BCH-PERP	+0.0095%	1h	270.24	−0.139%	$443K	$429K	10x	as long as short
Lighter BCH	+0.0096%	1h	270.31	−0.113%	$378K	$588K	10x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	270.62	long leg	$6.1M	$4.2M	10x
Aster BCHUSDT	+0.0100%	8h	270.35	−0.100%	$218K	$703K	75x	as long as short
Pacifica BCH	+0.0100%	1h	270.43	−0.069%	$164K	$467K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	270.43	−0.070%	$9.3M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.91	−0.261%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	269.68	−0.347%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	270.21	−0.152%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	270.55	−0.026%	$778K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0112%	1h	270.53	−0.034%	$819K	$3.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0335% / S −0.0340%	1h	270.58	−0.013%	$27K	—	100x	as long as short