Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Injective−1.923%46s7-day average −0.154% · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+1.909%+$191 · spread now −1.923%, 7d avg −0.154%

Together, before fees+1.926%+ Points / potential airdropVariational Omni: Active · farm board+$193 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 Variational Omni is 1.769% cheaper against Injective than usual: you would sell low and buy high (−$177 if the spread goes back to its 7-day average of −0.154%). Swap the legs. The two prices were read 46 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	44m 30s	$721	$130K	12x
Short	Variational Omni BCH	265.00	−0.0104	pay 0.0104% / 8h	5h 44m	$81K	$201K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −1.923%Rate

Funding earned: −$28.86
Price spread: −1.923% → −0.154%: −$176.94
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$205.82
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 19 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 Variational Omni RFQ quote, 19 min ago	6.01 bp	doesn't fit	31.7 bp −$317	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
SunX BCH-USDT	−0.1879%	8h	265.50	−1.739%	$2K	$1.7M	30x	as long as short
HTX BCH-USDT	−0.0541%	8h	265.25	−1.832%	$766K	$1.5M	75x	as long as short
Phemex BCHUSDT	−0.0449%	8h	265.64	−1.688%	$4.9M	$6.6M	50x	as long as short
SoDEX BCH-USD	−0.0360%	1h	265.68	−1.673%	$2K	$8K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0190%	8h	264.82	−1.989%	$386K	$17K	10x	as long as short
Nado BCH-PERP	−0.0144%	1h	265.55	−1.721%	$420K	$339K	10x	as long as short
Coinbase International BCH-PERP-INTX	−0.0128%	1h	265.41	−1.773%	$226K	$1.8M	50x	as long as short
Binance BCHUSDT	−0.0113%	8h	265.47	−1.749%	$72.2M	$215.5M	75x	as long as short
MEXC BCH_USDT	−0.0113%	8h	265.87	−1.603%	$70.2M	$6.7M	200x	as long as short
Extended BCH-USD	−0.0112%	1h	265.48	−1.746%	$112K	$953K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BCHshort	−0.0104%	8h	265.00	−1.923%	$81K	$201K	—
Gate BCH_USDT	−0.0101%	8h	265.59	−1.706%	$8.3M	$13.2M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0075%	8h	265.60	−1.702%	$25.2M	$74.3M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0073%	1h	265.79	−1.634%	$447K	$292K	25x	as long as short
Bitget BCHUSDT	−0.0051%	8h	265.53	−1.728%	$19.2M	$28.5M	75x	as long as short
KuCoin BCHUSDTM	−0.0040%	8h	265.66	−1.680%	$8.6M	$7.2M	75x	as long as short
Bybit BCHUSDT	−0.0039%	8h	265.54	−1.725%	$39.3M	$31.1M	75x	as long as short
Kraken Futures PF_BCHUSD	−0.0031%	1h	265.83	−1.619%	$852K	$3.0M	50x	as long as short
BingX BCH-USDC	−0.0021%	8h	265.52	−1.732%	—	$6.5M	—	as long as short
ApeX Omni BCHUSDT	−0.0017%	1h	264.20	−2.221%	$96K	$226K	50x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.72	−1.658%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.93	−1.581%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.72	−1.658%	$1.1M	$10.3M	2.7x	as long as short
BloFin BCH-USDT	+0.0007%	8h	265.69	−1.669%	—	$4.2M	50x	as long as short
Pacifica BCH	+0.0021%	1h	265.68	−1.673%	$162K	$314K	10x	as long as short
Injective BCH/USDC PERPlong	+0.0033%	1h	270.20	long leg	$721	$130K	12x
Orderly PERP_BCH_USDC	+0.0034%	8h	265.56	−1.717%	$2K	$176	10x	as long as short
Lighter BCH	+0.0096%	1h	265.68	−1.672%	$366K	$477K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.87	−1.603%	$5.7M	$4.7M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	265.68	−1.673%	$168K	$519K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.75	−2.018%	$19K	$292K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0451%	1h	265.65	−1.684%	$25K	—	100x	as long as short