Funding you earn now, next payment 01:00 UTC−0.0610%/8h= −66.8% APRpaid last 24h −0.002%
Price spread now: Phemex against Injective−0.289%65s7-day average −0.080% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.185%−$18 on $10k
+Price spread, last 3 days (all we have)+1.568%+$157 · spread now −0.289%, 7d avg −0.080%
=Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Phemex is 0.208% cheaper against Injective than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.080%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.6% a year). A funding rate is set anew for every payment. 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 | Injective BCH/USDC PERP | 270.20 | 0.0033 | pay 0.0004% / 1h | 15m 42s | $721 | $130K | 12x |
| Short | Phemex BCHUSDT | 269.42 | −0.0577 | pay 0.0577% / 8h | 7h 15m | $5.0M | $6.5M | 50x |
Injective BCH/USDC PERP
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$128.18
- Price spread: −0.289% → −0.080%
- −$20.85
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$161.05
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago | 7.66 bp | 16.5 bp −$16 | 26.3 bp −$263 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex BCHUSDTshort | −0.0577% | 8h | 269.42 | −0.289% | $5.0M | $6.5M | 50x | |
| SoDEX BCH-USD | −0.0556% | 1h | 269.54 | −0.244% | $2K | $6K | 10x | as long as short |
| Deribit BCH_USDC-PERPETUAL | −0.0369% | 1h | 269.47 | −0.271% | $455K | $266K | 25x | as long as short |
| ApeX Omni BCHUSDT | −0.0184% | 1h | 269.15 | −0.389% | $73K | $215K | 50x | as long as short |
| GRVT BCH_USDT_Perp | −0.0179% | 8h | 269.07 | −0.418% | $392K | $17K | 10x | as long as short |
| Gate BCH_USDT | −0.0150% | 8h | 269.75 | −0.167% | $8.5M | $14.3M | 75x | as long as short |
| Variational Omni BCH | −0.0128% | 8h | 268.91 | −0.478% | $82K | $285K | — | as long as short |
| Bybit BCHUSDT | −0.0076% | 8h | 269.64 | −0.207% | $39.9M | $32.6M | 75x | as long as short |
| Extended BCH-USD | −0.0072% | 1h | 269.58 | −0.228% | $117K | $961K | 25x | as long as short |
| Binance BCHUSDT | −0.0069% | 8h | 269.60 | −0.222% | $73.1M | $229.5M | 75x | as long as short |
SoDEX BCH-USD
Deribit BCH_USDC-PERPETUAL
ApeX Omni BCHUSDT
GRVT BCH_USDT_Perp
Gate BCH_USDT
Variational Omni BCH
Bybit BCHUSDT
Extended BCH-USD
Binance BCHUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BCH_USDT | −0.0069% | 8h | 270.07 | −0.048% | $70.8M | $6.7M | 200x | as long as short |
| Coinbase International BCH-PERP-INTX | −0.0056% | 1h | 268.56 | −0.607% | $230K | $2.0M | 50x | as long as short |
| Kraken Futures PF_BCHUSD | −0.0049% | 1h | 269.78 | −0.154% | $859K | $3.1M | 50x | as long as short |
| Bitget BCHUSDT | −0.0023% | 8h | 269.65 | −0.204% | $19.3M | $29.1M | 75x | as long as short |
| gTrade (Gains Network) BCH/USD | L −0.0003% / S +0.0007% | 1h | 269.35 | −0.316% | $7K | — | 150x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 269.70 | −0.185% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 269.36 | −0.311% | $1.1M | $10.9M | 2.7x | as long as short |
| OKX BCH-USDT-SWAP | +0.0007% | 8h | 269.70 | −0.185% | $26.2M | $76.5M | 50x | as long as short |
| BingX BCH-USDC | +0.0013% | 8h | 269.67 | −0.196% | — | $6.5M | — | as long as short |
| Nado BCH-PERP | +0.0019% | 1h | 268.88 | −0.487% | $440K | $419K | 10x | as long as short |
| Orderly PERP_BCH_USDC | +0.0029% | 8h | 269.25 | −0.352% | $2K | $176 | 10x | as long as short |
| Injective BCH/USDC PERPlong | +0.0033% | 1h | 270.20 | long leg | $721 | $130K | 12x | |
| BloFin BCH-USDT | +0.0050% | 8h | 268.56 | −0.607% | $3.9M | $4.2M | 50x | as long as short |
| HTX BCH-USDT | +0.0072% | 8h | 269.25 | −0.352% | $782K | $1.6M | 75x | as long as short |
| Lighter BCH | +0.0096% | 1h | 269.58 | −0.231% | $371K | $530K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 269.89 | −0.115% | $6.6M | $4.6M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 269.52 | −0.253% | $178K | $658K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 269.63 | −0.209% | $164K | $407K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 269.69 | −0.189% | $8.8M | $7.7M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 269.14 | −0.392% | $19K | $291K | 20x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 269.08 | −0.415% | $1K | $1.9M | 30x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0334% / S −0.0451% | 1h | 269.40 | −0.296% | $25K | — | 100x | as long as short |
MEXC BCH_USDT
Coinbase International BCH-PERP-INTX
Kraken Futures PF_BCHUSD
Bitget BCHUSDT
gTrade (Gains Network) BCH/USD
dYdX BCH-USD
Kalshi KXBCHPERP
OKX BCH-USDT-SWAP
BingX BCH-USDC
Nado BCH-PERP
Orderly PERP_BCH_USDC
BloFin BCH-USDT
HTX BCH-USDT
Lighter BCH
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
SunX BCH-USDT
GMX BCH/USD [WBTC.b-USDC]