Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.021%

Price spread now: BloFin against Hyperliquid+0.076%67s7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.389% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.076%, 7d avg −0.061%

Together, before fees−0.004%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.137% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of −0.061%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days. Mind the row above: over the last 7 days funding on this pair paid +0.154%, so the current rate has only just turned against you. The two prices were read 67 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	Hyperliquid BCH	262.81	0.0100	pay 0.0013% / 1h	31m 49s	$5.6M	$4.7M	10x
Short	BloFin BCH-USDT	263.01	0.0067	get 0.0067% / 8h	2h 31m	$3.9M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$6.85
Price spread: +0.076% → −0.061%: $13.71
Slippage, 4 orders: −$17.93
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.07
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; BloFin: 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 Hyperliquid live order book, 10 min ago	0.76 bp	6.7 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.38 bp	14.0 bp −$14	20.3 bp −$203	41.5 bp −$4,147	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	−0.0254%	1h	262.51	−0.114%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0234%	8h	262.69	−0.046%	$768K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0185%	8h	262.63	−0.068%	$4.9M	$6.5M	50x	as long as short
Bitget BCHUSDT	−0.0115%	8h	262.40	−0.156%	$18.7M	$28.4M	75x	as long as short
KuCoin BCHUSDTM	−0.0101%	8h	262.61	−0.076%	$8.4M	$6.8M	75x	as long as short
SunX BCH-USDT	−0.0098%	8h	262.62	−0.072%	$2K	$1.7M	30x	as long as short
Nado BCH-PERP	−0.0094%	1h	262.78	−0.010%	$429K	$350K	10x	as long as short
OKX BCH-USDT-SWAP	−0.0080%	8h	262.40	−0.156%	$25.0M	$76.4M	50x	as long as short
Variational Omni BCH	−0.0071%	8h	263.91	+0.418%	$81K	$196K	—	as long as short
Extended BCH-USD	−0.0056%	1h	262.48	−0.126%	$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	−0.0055%	8h	262.55	−0.099%	$72.5M	$219.5M	75x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0054%	1h	262.82	+0.005%	$437K	$333K	25x	as long as short
MEXC BCH_USDT	−0.0052%	8h	262.98	+0.065%	$69.5M	$8.1M	200x	as long as short
Coinbase International BCH-PERP-INTX	−0.0040%	1h	263.98	+0.445%	$219K	$1.8M	50x	as long as short
Bybit BCHUSDT	−0.0028%	8h	262.50	−0.118%	$38.7M	$31.5M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0023%	8h	264.12	+0.498%	$385K	$17K	10x	as long as short
BingX BCH-USDT	−0.0019%	8h	262.56	−0.095%	—	$32.9M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	263.00	+0.074%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	263.28	+0.177%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	263.30	+0.186%	$983K	$10.4M	2.7x	as long as short
Gate BCH_USDT	+0.0009%	8h	262.68	−0.049%	$8.3M	$13.7M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.812%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	262.76	−0.019%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0067%	8h	262.84	+0.011%	$153K	$557K	75x	as long as short
BloFin BCH-USDTshort	+0.0067%	8h	263.01	+0.076%	$3.9M	$4.4M	50x
Lighter BCH	+0.0096%	1h	262.64	−0.064%	$352K	$495K	10x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	262.81	long leg	$5.6M	$4.7M	10x
Pacifica BCH	+0.0100%	1h	263.14	+0.126%	$158K	$306K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.62	+0.689%	$18K	$331K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	264.93	+0.807%	$96K	$235K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0181%	1h	262.67	−0.054%	$839K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	262.96	+0.056%	$12K	—	100x	as long as short