Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.003%

Price spread now: Kalshi against Injective−1.865%66s7-day average −0.152% · you buy dearer than you sell

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

Long on Injective Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.228%−$23 on $10k

Price spread, last 4 days (all we have)+2.356%+$236 · spread now −1.865%, 7d avg −0.152%

Together, before fees+2.129%+$213 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kalshi is 1.713% cheaper against Injective than usual: you would sell low and buy high (−$171 if the spread goes back to its 7-day average of −0.152%). Swap the legs. The two prices were read 66 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	Injective BCH/USDC PERP	270.20	0.0033	pay 0.0004% / 1h	57m 49s	$721	$130K	12x
Short	Kalshi KXBCHPERP	265.16	0	get 0.0000% / 8h	3h 57m	$1.0M	$10.3M	2.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Injective. 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 InjectivebpFee KalshibpOrdersPrice spread, now −1.865%Rate

Funding earned: −$7
Price spread: −1.865% → −0.152%: −$171.34
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$188.36
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Kalshi: live order book, 1 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 Injective no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 1 min ago	5.84 bp	16.3 bp −$16	21.6 bp −$216	34.6 bp −$3,455	doesn't fit

Injective: 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
SunX BCH-USDT	−0.0342%	8h	264.71	−2.032%	$2K	$1.7M	30x	as long as short
SoDEX BCH-USD	−0.0324%	1h	264.95	−1.943%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0271%	8h	264.97	−1.936%	$4.9M	$6.4M	50x	as long as short
HTX BCH-USDT	−0.0230%	8h	264.85	−1.980%	$772K	$1.4M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0099%	8h	265.30	−1.813%	$25.4M	$75.8M	50x	as long as short
Nado BCH-PERP	−0.0093%	1h	264.95	−1.943%	$430K	$343K	10x	as long as short
MEXC BCH_USDT	−0.0089%	8h	265.50	−1.739%	$70.4M	$7.8M	200x	as long as short
Binance BCHUSDT	−0.0088%	8h	265.23	−1.839%	$72.0M	$215.0M	75x	as long as short
Extended BCH-USD	−0.0088%	1h	264.98	−1.933%	$112K	$958K	25x	as long as short
KuCoin BCHUSDTM	−0.0084%	8h	265.21	−1.847%	$8.5M	$7.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0081%	8h	265.13	−1.876%	$19.0M	$28.2M	75x	as long as short
Variational Omni BCH	−0.0073%	8h	265.00	−1.923%	$81K	$197K	—	as long as short
GRVT BCH_USDT_Perp	−0.0064%	8h	265.06	−1.901%	$386K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	−0.0064%	1h	265.13	−1.876%	$221K	$1.8M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0063%	1h	265.12	−1.879%	$443K	$331K	25x	as long as short
Kraken Futures PF_BCHUSD	−0.0051%	1h	265.27	−1.825%	$853K	$3.0M	50x	as long as short
Gate BCH_USDT	−0.0047%	8h	265.26	−1.828%	$8.3M	$13.5M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.03	−1.912%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.16	−1.865%	$5K	$248	10x	as long as short
Bybit BCHUSDT	0.0000%	8h	265.10	−1.887%	$39.1M	$31.1M	75x	as long as short
Kalshi KXBCHPERPshort	0.0000%	8h	265.16	−1.865%	$1.0M	$10.3M	2.7x
BingX BCH-USDT	+0.0005%	8h	265.20	−1.850%	—	$32.1M	—	as long as short
BloFin BCH-USDT	+0.0031%	8h	265.19	−1.854%	$3.9M	$4.3M	50x	as long as short
Injective BCH/USDC PERPlong	+0.0033%	1h	270.20	long leg	$721	$130K	12x
Orderly PERP_BCH_USDC	+0.0041%	8h	265.00	−1.925%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0095%	8h	265.07	−1.900%	$152K	$541K	75x	as long as short
Lighter BCH	+0.0096%	1h	264.97	−1.936%	$357K	$488K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.31	−1.810%	$5.7M	$4.6M	10x	as long as short
Pacifica BCH	+0.0100%	1h	264.97	−1.934%	$159K	$303K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.81	−1.995%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.16	−1.865%	$97K	$232K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0350% / S −0.0506%	1h	264.99	−1.927%	$24K	—	100x	as long as short