Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.009%

Price spread now: Nado against Kalshi−0.240%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Kalshi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.225%+$22 · spread now −0.240%, 7d avg −0.018%

Together, before fees+0.229%+ Points / potential airdropNado: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.222% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.240% now, against its 7-day average of −0.018%). If the spread goes back, that is −$22 on $10k: about 18 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.004% in total) that is about 6 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBCHPERP	269.74	0	get 0.0000% / 8h	3h 07m	$1.1M	$10.8M	2.7x
Short	Nado BCH-PERP	269.09	0.0041	get 0.0005% / 1h	7m 59s	$436K	$419K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.240%Rate

Funding earned: $8.62
Price spread: −0.240% → −0.018%: −$22.19
Slippage, 4 orders: −$27.16
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$57.73
Costs to cover: 0.442%
Break-even: 53.9 days

Slippage from Kalshi: live order book, 1 min ago; Nado: live order book, 65 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 Kalshi live order book, 1 min ago	6.68 bp	11.7 bp −$12	17.5 bp −$175	32.0 bp −$3,204	doesn't fit
Sell Nado live order book, 65 min ago	0.75 bp	6.9 bp −$7	17.5 bp −$175	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-PERPETUAL	−0.0651%	1h	269.31	−0.158%	$455K	$266K	25x	as long as short
Phemex BCHUSDT	−0.0554%	8h	269.21	−0.196%	$5.0M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0540%	1h	269.24	−0.185%	$2K	$6K	10x	as long as short
ApeX Omni BCHUSDT	−0.0198%	1h	269.47	−0.100%	$73K	$214K	50x	as long as short
Gate BCH_USDT	−0.0180%	8h	269.33	−0.152%	$8.5M	$14.3M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0169%	8h	269.62	−0.045%	$393K	$17K	10x	as long as short
Variational Omni BCH	−0.0126%	8h	269.21	−0.198%	$83K	$285K	—	as long as short
Extended BCH-USD	−0.0072%	1h	269.13	−0.227%	$117K	$961K	25x	as long as short
Binance BCHUSDT	−0.0072%	8h	269.18	−0.207%	$72.9M	$229.3M	75x	as long as short
MEXC BCH_USDT	−0.0071%	8h	269.72	−0.007%	$70.7M	$6.7M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0056%	1h	269.44	−0.111%	$231K	$2.0M	50x	as long as short
Kraken Futures PF_BCHUSD	−0.0049%	1h	269.56	−0.068%	$858K	$3.1M	50x	as long as short
Bybit BCHUSDT	−0.0048%	8h	269.26	−0.178%	$39.8M	$32.5M	75x	as long as short
Bitget BCHUSDT	−0.0025%	8h	269.25	−0.182%	$19.3M	$29.2M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0007%	8h	269.10	−0.237%	$26.2M	$76.3M	50x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0003% / S +0.0007%	1h	269.54	−0.073%	$7K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	269.62	−0.046%	$5K	$248	10x	as long as short
Kalshi KXBCHPERPlong	0.0000%	8h	269.74	long leg	$1.1M	$10.8M	2.7x
BingX BCH-USDC	+0.0005%	8h	269.26	−0.178%	—	$6.5M	—	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	269.21	−0.196%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.171%	$721	$130K	12x	as long as short
Nado BCH-PERPshort	+0.0041%	1h	269.09	−0.240%	$436K	$419K	10x
BloFin BCH-USDT	+0.0049%	8h	269.55	−0.070%	$4.0M	$4.3M	50x	as long as short
Lighter BCH	+0.0096%	1h	269.33	−0.153%	$371K	$530K	10x	as long as short
HTX BCH-USDT	+0.0099%	8h	269.59	−0.056%	$783K	$1.6M	75x	as long as short
Hyperliquid BCH	+0.0100%	1h	269.60	−0.052%	$6.6M	$4.6M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	269.24	−0.186%	$177K	$658K	75x	as long as short
Pacifica BCH	+0.0100%	1h	269.39	−0.130%	$164K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.28	−0.171%	$8.8M	$7.6M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.34	−0.149%	$19K	$290K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.01	−0.271%	$2K	$1.9M	30x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0335% / S −0.0451%	1h	269.43	−0.114%	$25K	—	100x	as long as short