BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0918%/8h= −100.5% APRnext payment −$1.15 per $10,000 · paid last 24h −0.050%

Price spread now: Deribit against Kraken Futures+0.036%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 3 days (all we have)−0.148%−$15 · spread now +0.036%, 7d avg −0.028%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.064% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.028%): +$6 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.051% in total) that is about 8.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.051% in total (about -2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.15 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	Kraken Futures PF_BCHUSD	271.52	0.0112	pay 0.0014% / 1h	34m 39s	$810K	$3.2M	50x
Short	Deribit BCH_USDC-PERPETUAL	271.62	−0.0805	pay 0.0101% / 1h	34m 39s	$460K	$265K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$192.68
Price spread: +0.036% → −0.028%: $6.4
Slippage, 4 orders: −$33.17
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$236.45
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Deribit: live order book, 49 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, 4 min ago	4.78 bp	10.2 bp −$10	23.0 bp −$230	doesn't fit	doesn't fit
Sell Deribit live order book, 49 min ago	4.01 bp	7.5 bp −$8	17.7 bp −$177	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-PERPETUALshort	−0.0805%	1h	271.62	+0.036%	$460K	$265K	25x
Phemex BCHUSDT	−0.0204%	8h	271.53	+0.002%	$5.0M	$6.3M	50x	as long as short
Injective BCH/USDC PERP	−0.0154%	1h	270.20	−0.488%	$721	$130K	12x	as long as short
SoDEX BCH-USD	−0.0100%	1h	271.29	−0.086%	$2K	$6K	10x	as long as short
Variational Omni BCH	−0.0082%	8h	271.12	−0.149%	$86K	$291K	—	as long as short
Extended BCH-USD	−0.0064%	1h	271.02	−0.187%	$117K	$653K	25x	as long as short
MEXC BCH_USDT	−0.0060%	8h	271.87	+0.127%	$71.4M	$6.4M	200x	as long as short
Binance BCHUSDT	−0.0059%	8h	271.30	−0.083%	$75.5M	$232.9M	75x	as long as short
Bybit BCHUSDT	−0.0021%	8h	271.17	−0.130%	$39.7M	$32.8M	75x	as long as short
Gate BCH_USDT	−0.0013%	8h	271.26	−0.097%	$8.4M	$14.7M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0005%	8h	271.23	−0.108%	$20.1M	$29.1M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	271.47	−0.020%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	271.88	+0.131%	$1.2M	$11.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	271.66	+0.049%	$5K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0014%	8h	271.46	−0.024%	$396K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	271.59	+0.024%	$234K	$2.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0026%	8h	271.47	−0.020%	$2K	$176	10x	as long as short
BloFin BCH-USDT	+0.0059%	8h	271.39	−0.049%	$4.0M	$4.2M	50x	as long as short
BingX BCH-USDT	+0.0063%	8h	271.28	−0.090%	—	$30.5M	—	as long as short
OKX BCH-USDT-SWAP	+0.0068%	8h	271.30	−0.083%	$26.2M	$78.4M	50x	as long as short
Lighter BCH	+0.0096%	1h	271.34	−0.067%	$379K	$584K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	271.25	−0.099%	$446K	$427K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	271.48	−0.016%	$6.1M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	271.40	−0.048%	$221K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	271.26	−0.096%	$165K	$468K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	271.40	−0.046%	$9.2M	$8.0M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	271.59	+0.022%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	271.90	+0.138%	$74K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	271.21	−0.116%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	271.34	−0.068%	$785K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSDlong	+0.0112%	1h	271.52	long leg	$810K	$3.2M	50x
GMX BCH/USD [WBTC.b-USDC]	L +0.0343% / S −0.0467%	1h	271.93	+0.148%	$26K	—	100x	as long as short