BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0554%/8h= −60.7% APRnext payment −$5.54 per $10,000 · paid last 24h −0.004%

Price spread now: Phemex against Kalshi−0.196%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 3 days (all we have)+0.170%+$17 · spread now −0.196%, 7d avg +0.012%

Together, before fees+0.213%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Phemex is 0.208% cheaper against Kalshi than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.044% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.54 per $10,000. 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	Kalshi KXBCHPERP	269.74	0	get 0.0000% / 8h	3h 07m	$1.1M	$10.8M	2.7x
Short	Phemex BCHUSDT	269.21	−0.0554	pay 0.0554% / 8h	7h 07m	$5.0M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$116.35
Price spread: −0.196% → +0.012%: −$20.82
Slippage, 4 orders: −$27.35
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$186.53
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from Kalshi: live order book, 1 min ago; Phemex: live order book, 1 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 Phemex live order book, 1 min ago	2.23 bp	11.0 bp −$11	19.5 bp −$195	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 BCHUSDTshort	−0.0554%	8h	269.21	−0.196%	$5.0M	$6.5M	50x
SoDEX BCH-USD	−0.0540%	1h	269.24	−0.185%	$2K	$6K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0187%	8h	269.71	−0.010%	$393K	$17K	10x	as long as short
ApeX Omni BCHUSDT	−0.0170%	1h	269.64	−0.037%	$73K	$214K	50x	as long as short
Gate BCH_USDT	−0.0168%	8h	269.37	−0.137%	$8.5M	$14.3M	75x	as long as short
Variational Omni BCH	−0.0126%	8h	269.21	−0.198%	$83K	$285K	—	as long as short
Binance BCHUSDT	−0.0073%	8h	269.28	−0.171%	$72.9M	$229.3M	75x	as long as short
Extended BCH-USD	−0.0072%	1h	269.26	−0.179%	$117K	$961K	25x	as long as short
MEXC BCH_USDT	−0.0071%	8h	269.78	+0.015%	$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	−0.0034%	8h	269.30	−0.163%	$39.8M	$32.5M	75x	as long as short
Bitget BCHUSDT	−0.0026%	8h	269.22	−0.193%	$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	269.49	−0.093%	$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-USDT	+0.0005%	8h	269.34	−0.148%	—	$32.3M	—	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-PERP	+0.0041%	1h	269.32	−0.156%	$437K	$419K	10x	as long as short
BloFin BCH-USDT	+0.0049%	8h	269.55	−0.070%	$4.0M	$4.3M	50x	as long as short
Lighter BCH	+0.0096%	1h	269.37	−0.137%	$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	269.62	−0.044%	$6.6M	$4.6M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	269.31	−0.161%	$177K	$658K	75x	as long as short
Pacifica BCH	+0.0100%	1h	269.36	−0.141%	$164K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.26	−0.178%	$8.8M	$7.6M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.58	−0.058%	$19K	$291K	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