Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h +0.009%

Price spread now: Phemex against Kraken Futures−0.054%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now −0.054%, 7d avg −0.048%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.078%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BCHUSD	265.87	−0.0103	get 0.0013% / 1h	6m 59s	$865K	$2.9M	50x
Short	Phemex BCHUSDT	265.73	−0.0157	pay 0.0157% / 8h	1h 06m	$4.9M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$11.41
Price spread: −0.054% → −0.048%: −$0.66
Slippage, 4 orders: −$23.54
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$57.6
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago	5.46 bp	14.9 bp −$15	26.0 bp −$260	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.38 bp	8.0 bp −$8	15.9 bp −$159	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
SoDEX BCH-USD	−0.0345%	1h	265.68	−0.073%	$2K	$8K	10x	as long as short
Phemex BCHUSDTshort	−0.0157%	8h	265.73	−0.054%	$4.9M	$6.6M	50x
HTX BCH-USDT	−0.0151%	8h	265.59	−0.107%	$777K	$1.4M	75x	as long as short
Kraken Futures PF_BCHUSDlong	−0.0103%	1h	265.87	long leg	$865K	$2.9M	50x
KuCoin BCHUSDTM	−0.0094%	8h	265.62	−0.096%	$8.5M	$6.6M	75x	as long as short
Variational Omni BCH	−0.0090%	8h	265.10	−0.291%	$81K	$196K	—	as long as short
Bitget BCHUSDT	−0.0078%	8h	265.59	−0.107%	$18.9M	$28.3M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0069%	8h	265.50	−0.141%	$25.4M	$78.0M	50x	as long as short
Bybit BCHUSDT	−0.0068%	8h	265.54	−0.126%	$39.0M	$31.8M	75x	as long as short
Extended BCH-USD	−0.0048%	1h	265.52	−0.132%	$111K	$835K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0045%	8h	265.69	−0.070%	$73.2M	$220.1M	75x	as long as short
MEXC BCH_USDT	−0.0044%	8h	266.06	+0.070%	$71.0M	$8.8M	200x	as long as short
BingX BCH-USDT	−0.0034%	8h	265.57	−0.115%	—	$32.9M	—	as long as short
GRVT BCH_USDT_Perp	−0.0026%	8h	265.34	−0.201%	$387K	$17K	10x	as long as short
Gate BCH_USDT	−0.0005%	8h	265.66	−0.081%	$8.4M	$13.9M	75x	as long as short
Nado BCH-PERP	−0.0004%	1h	265.37	−0.189%	$435K	$357K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.83	−0.018%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.47	−0.150%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.69	−0.069%	$987K	$10.5M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.87	−0.002%	$443K	$337K	25x	as long as short
Coinbase International BCH-PERP-INTX	+0.0008%	1h	265.90	+0.010%	$225K	$1.9M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.627%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	265.69	−0.069%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0052%	8h	265.56	−0.116%	$138K	$590K	75x	as long as short
BloFin BCH-USDT	+0.0075%	8h	265.63	−0.092%	$4.0M	$4.5M	50x	as long as short
Lighter BCH	+0.0096%	1h	265.71	−0.062%	$354K	$496K	10x	as long as short
SunX BCH-USDT	+0.0100%	8h	265.55	−0.122%	$2K	$1.7M	30x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.83	−0.017%	$5.7M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	265.18	−0.260%	$159K	$311K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.23	−0.244%	$19K	$344K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.33	−0.205%	$95K	$239K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	265.84	−0.013%	$12K	—	100x	as long as short