Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0260%/8h= +28.4% APRpaid last 24h +0.036%

Price spread now: Bitget against Kraken Futures−0.116%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 3 days (all we have)+0.045%+$5 · spread now −0.116%, 7d avg −0.064%

Together, before fees+0.174%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of −0.064%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.129% in total) that is about 2.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.129% in total (about 6.7% 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	Kraken Futures PF_BCHUSD	265.35	−0.0300	get 0.0037% / 1h	30m 22s	$851K	$3.2M	50x
Short	Bitget BCHUSDT	265.04	−0.0040	pay 0.0040% / 8h	6h 30m	$19.0M	$29.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.116%Rate

Funding earned: $54.52
Price spread: −0.116% → −0.064%: −$5.15
Slippage, 4 orders: −$21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $6.37
Costs to cover: 0.430%
Break-even: 6.2 days

Slippage from Kraken Futures: live order book, 3 min ago; Bitget: live order book, 3 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 Kraken Futures live order book, 3 min ago	5.67 bp	14.3 bp −$14	30.1 bp −$301	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.19 bp	8.5 bp −$9	16.1 bp −$161	52.3 bp −$5,232	doesn't fit

BCH on 31 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	−0.0673%	8h	264.89	−0.172%	$2K	$1.9M	30x	as long as short
SoDEX BCH-USD	−0.0498%	1h	265.13	−0.082%	$2K	$6K	10x	as long as short
Phemex BCHUSDT	−0.0388%	8h	264.72	−0.236%	$4.9M	$6.6M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0353%	1h	265.16	−0.070%	$448K	$266K	25x	as long as short
Kraken Futures PF_BCHUSDlong	−0.0300%	1h	265.35	long leg	$851K	$3.2M	50x
HTX BCH-USDT	−0.0231%	8h	264.89	−0.172%	$776K	$1.6M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0189%	8h	264.31	−0.392%	$385K	$17K	10x	as long as short
ApeX Omni BCHUSDT	−0.0187%	1h	264.48	−0.327%	$96K	$227K	50x	as long as short
Gate BCH_USDT	−0.0124%	8h	265.07	−0.104%	$8.4M	$13.5M	75x	as long as short
Variational Omni BCH	−0.0117%	8h	264.71	−0.240%	$81K	$253K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0112%	1h	265.07	−0.104%	$231K	$2.1M	50x	as long as short
Extended BCH-USD	−0.0096%	1h	265.01	−0.128%	$112K	$965K	25x	as long as short
Binance BCHUSDT	−0.0092%	8h	265.03	−0.119%	$71.8M	$234.8M	75x	as long as short
MEXC BCH_USDT	−0.0091%	8h	265.37	+0.009%	$70.0M	$7.0M	200x	as long as short
Bybit BCHUSDT	−0.0055%	8h	265.10	−0.093%	$39.1M	$33.5M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0043%	8h	264.90	−0.168%	$25.2M	$79.0M	50x	as long as short
Bitget BCHUSDTshort	−0.0040%	8h	265.04	−0.116%	$19.0M	$29.6M	75x
BingX BCH-USDT	−0.0030%	8h	265.03	−0.119%	—	$32.3M	—	as long as short
Nado BCH-PERP	−0.0019%	1h	264.80	−0.207%	$420K	$429K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	265.04	−0.117%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.42	+0.028%	$1.1M	$11.1M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	265.23	−0.043%	$4K	—	150x	as long as short
Orderly PERP_BCH_USDC	+0.0032%	8h	264.99	−0.134%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.829%	$721	$130K	12x	as long as short
Pacifica BCH	+0.0040%	1h	264.99	−0.134%	$161K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0041%	8h	264.93	−0.157%	$8.6M	$7.5M	75x	as long as short
Lighter BCH	+0.0096%	1h	264.84	−0.192%	$365K	$478K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.24	−0.041%	$5.7M	$5.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	265.00	−0.130%	$168K	$697K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.37	−0.368%	$19K	$292K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0451%	1h	265.20	−0.054%	$25K	—	100x	as long as short