Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.092%

Price spread now: GMX against Kalshi−0.022%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.022% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBCHPERP	267.63	0	get 0.0000% / 8h	3h 52m	$1.0M	$9.9M	2.7x
Short	GMX BCH/USD [WBTC.b-USDC]	267.57	L +0.0203% / S −0.0147%	get 0.0018% / 1h	52m 57s	$13K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Kalshi. 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 KalshibpFee GMXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $30.96
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $6.76
Costs to cover: 0.220%
Break-even: 5.5 days

Slippage unknown: Kalshi: live order book, 1 min ago; GMX: no order-book sample. 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 Kalshi live order book, 1 min ago	5.23 bp	14.0 bp −$14	20.4 bp −$204	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 BCHUSDT	−0.0584%	8h	267.39	−0.090%	$5.0M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0368%	1h	267.35	−0.105%	$2K	$8K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0158%	1h	267.66	+0.012%	$870K	$2.7M	50x	as long as short
Variational Omni BCH	−0.0135%	8h	267.21	−0.158%	$145K	$259K	—	as long as short
Gate BCH_USDT	−0.0115%	8h	267.43	−0.075%	$8.4M	$12.8M	75x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0101%	1h	267.57	−0.022%	$420K	$359K	25x	as long as short
GRVT BCH_USDT_Perp	−0.0086%	8h	267.17	−0.172%	$390K	$17K	10x	as long as short
OKX BCH-USDT-SWAP	−0.0080%	8h	267.80	+0.064%	$25.3M	$78.6M	50x	as long as short
KuCoin BCHUSDTM	−0.0076%	8h	267.46	−0.064%	$8.6M	$6.3M	75x	as long as short
Bitget BCHUSDT	−0.0073%	8h	267.46	−0.064%	$19.3M	$27.1M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BCH-USD	−0.0048%	1h	267.78	+0.055%	$119K	$917K	25x	as long as short
Binance BCHUSDT	−0.0044%	8h	267.42	−0.077%	$74.1M	$215.3M	75x	as long as short
MEXC BCH_USDT	−0.0043%	8h	268.06	+0.161%	$72.2M	$9.1M	200x	as long as short
BingX BCH-USDC	−0.0035%	8h	267.42	−0.078%	—	$6.5M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	267.36	−0.101%	$15K	—	150x	as long as short
Pacifica BCH	−0.0002%	1h	267.30	−0.123%	$155K	$299K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	267.36	−0.101%	$5K	$240	10x	as long as short
Kalshi KXBCHPERPlong	0.0000%	8h	267.63	long leg	$1.0M	$9.9M	2.7x
Aster BCHUSDT	+0.0016%	8h	267.37	−0.097%	$141K	$566K	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.960%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0045%	8h	267.40	−0.086%	$2K	—	10x	as long as short
Nado BCH-PERP	+0.0065%	1h	267.25	−0.142%	$429K	$361K	10x	as long as short
Bybit BCHUSDT	+0.0068%	8h	267.80	+0.064%	$39.6M	$32.2M	75x	as long as short
BloFin BCH-USDT	+0.0076%	8h	267.50	−0.049%	$3.6M	$4.9M	50x	as long as short
Coinbase International BCH-PERP-INTX	+0.0088%	1h	267.53	−0.037%	$307K	$2.1M	50x	as long as short
Lighter BCH	+0.0096%	1h	267.53	−0.036%	$374K	$492K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	267.65	+0.007%	$5.8M	$4.7M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.09	−0.203%	$19K	$344K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.20	−0.161%	$96K	$242K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.13	−0.187%	$2K	$1.6M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.23	−0.149%	$778K	$1.4M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]short	L +0.0203% / S −0.0147%	1h	267.57	−0.022%	$13K	—	100x