BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0405%/8h= −44.3% APRnext payment −$0.51 per $10,000 · paid last 24h −0.085%

Price spread now: Deribit against Hyperliquid−0.148%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 3 days (all we have)+0.075%+$7 · spread now −0.148%, 7d avg −0.028%

Together, before fees−0.127%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.120% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.202% in total (about -10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BCH	270.57	0.0100	pay 0.0013% / 1h	1m 46s	$6.1M	$4.2M	10x
Short	Deribit BCH_USDC-PERPETUAL	270.17	−0.0305	pay 0.0038% / 1h	1m 46s	$458K	$265K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$85.03
Price spread: −0.148% → −0.028%: −$11.98
Slippage, 4 orders: −$15.07
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$128.08
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Deribit: live order book, 17 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	1.48 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 17 min ago	4.49 bp	8.1 bp −$8	15.2 bp −$152	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-PERPETUALshort	−0.0305%	1h	270.17	−0.148%	$458K	$265K	25x
Phemex BCHUSDT	−0.0188%	8h	270.07	−0.185%	$4.9M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0173%	1h	270.07	−0.185%	$2K	$6K	10x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.137%	$721	$130K	12x	as long as short
Variational Omni BCH	−0.0126%	8h	269.81	−0.280%	$83K	$294K	—	as long as short
Bybit BCHUSDT	−0.0070%	8h	270.08	−0.181%	$39.5M	$33.1M	75x	as long as short
Extended BCH-USD	−0.0040%	1h	270.13	−0.164%	$116K	$653K	25x	as long as short
Binance BCHUSDT	−0.0037%	8h	270.28	−0.109%	$75.2M	$234.7M	75x	as long as short
MEXC BCH_USDT	−0.0036%	8h	270.80	+0.085%	$70.9M	$6.7M	200x	as long as short
dYdX BCH-USD	0.0000%	1h	270.41	−0.059%	$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	270.09	−0.177%	$1.3M	$11.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	270.25	−0.118%	$4K	—	150x	as long as short
Gate BCH_USDT	+0.0012%	8h	270.29	−0.103%	$8.4M	$14.9M	75x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	270.48	−0.033%	$241K	$2.1M	50x	as long as short
GRVT BCH_USDT_Perp	+0.0017%	8h	269.98	−0.219%	$393K	$17K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0024%	8h	270.03	−0.200%	$2K	$176	10x	as long as short
Bitget BCHUSDT	+0.0029%	8h	270.20	−0.137%	$19.6M	$29.6M	75x	as long as short
OKX BCH-USDT-SWAP	+0.0056%	8h	270.10	−0.174%	$26.6M	$78.8M	50x	as long as short
BingX BCH-USDT	+0.0059%	8h	270.24	−0.122%	—	$30.6M	—	as long as short
BloFin BCH-USDT	+0.0081%	8h	270.28	−0.107%	$4.0M	$4.2M	50x	as long as short
Nado BCH-PERP	+0.0096%	1h	270.17	−0.148%	$443K	$429K	10x	as long as short
Lighter BCH	+0.0096%	1h	270.29	−0.103%	$378K	$588K	10x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	270.57	long leg	$6.1M	$4.2M	10x
Aster BCHUSDT	+0.0100%	8h	270.25	−0.118%	$218K	$704K	75x	as long as short
Pacifica BCH	+0.0100%	1h	270.23	−0.124%	$164K	$467K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	270.30	−0.100%	$9.3M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.91	−0.242%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	269.68	−0.329%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.92	−0.240%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	270.01	−0.207%	$776K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0113%	1h	270.37	−0.073%	$819K	$3.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0335% / S −0.0340%	1h	270.23	−0.125%	$27K	—	100x	as long as short