Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0254%/8h= −27.9% APRpaid last 24h −0.025%

Price spread now: Injective against KuCoin−0.427%7-day average +0.053% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$8 on $10k

Price spread, last 3 days (all we have)−0.580%−$58 · spread now −0.427%, 7d avg +0.053%

Together, before fees−0.504%−$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Injective is 0.480% cheaper against KuCoin than usual: you would sell low and buy high (−$48 if the spread goes back to its 7-day average of +0.053%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.075%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% 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	KuCoin BCHUSDTM	271.36	0.0100	pay 0.0100% / 8h	1h 34m	$9.2M	$8.0M	75x
Short	Injective BCH/USDC PERP	270.20	−0.0154	pay 0.0019% / 1h	34m 51s	$721	$130K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −0.427%Rate

Funding earned: −$53.41
Price spread: −0.427% → +0.053%: −$48.03
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$113.47
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; Injective: no order-book sample. Net counts fees only.

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 KuCoin live order book, 3 min ago	1.10 bp	16.3 bp −$16	57.0 bp −$570	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0805%	1h	271.62	+0.096%	$460K	$265K	25x	as long as short
Phemex BCHUSDT	−0.0204%	8h	271.53	+0.063%	$5.0M	$6.3M	50x	as long as short
Injective BCH/USDC PERPshort	−0.0154%	1h	270.20	−0.427%	$721	$130K	12x
SoDEX BCH-USD	−0.0100%	1h	271.29	−0.026%	$2K	$6K	10x	as long as short
Variational Omni BCH	−0.0082%	8h	271.12	−0.089%	$86K	$291K	—	as long as short
Extended BCH-USD	−0.0064%	1h	271.04	−0.118%	$117K	$653K	25x	as long as short
Binance BCHUSDT	−0.0061%	8h	271.17	−0.070%	$75.5M	$232.9M	75x	as long as short
MEXC BCH_USDT	−0.0060%	8h	271.80	+0.162%	$71.4M	$6.4M	200x	as long as short
Bybit BCHUSDT	−0.0018%	8h	271.04	−0.118%	$39.6M	$32.8M	75x	as long as short
Gate BCH_USDT	−0.0013%	8h	271.18	−0.066%	$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	−0.0006%	8h	271.16	−0.074%	$20.1M	$29.1M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	271.46	+0.039%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	271.88	+0.192%	$1.2M	$11.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	271.66	+0.109%	$5K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0014%	8h	271.46	+0.037%	$396K	$17K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0016%	1h	271.59	+0.085%	$234K	$2.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0026%	8h	271.47	+0.041%	$2K	$176	10x	as long as short
BloFin BCH-USDT	+0.0059%	8h	271.39	+0.011%	$4.0M	$4.2M	50x	as long as short
BingX BCH-USDC	+0.0063%	8h	271.25	−0.041%	—	$6.5M	—	as long as short
OKX BCH-USDT-SWAP	+0.0068%	8h	271.10	−0.096%	$26.2M	$78.3M	50x	as long as short
Lighter BCH	+0.0096%	1h	271.44	+0.028%	$379K	$584K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	271.25	−0.039%	$446K	$427K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	271.48	+0.044%	$6.1M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	271.44	+0.029%	$221K	$700K	75x	as long as short
Pacifica BCH	+0.0100%	1h	271.28	−0.029%	$165K	$468K	10x	as long as short
KuCoin BCHUSDTMlong	+0.0100%	8h	271.36	long leg	$9.2M	$8.0M	75x
edgeX BCHUSDC	+0.0100%	4h	271.59	+0.083%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	271.90	+0.199%	$74K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	271.21	−0.055%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	271.34	−0.007%	$785K	$1.7M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0112%	1h	271.52	+0.060%	$810K	$3.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0343% / S −0.0467%	1h	271.93	+0.208%	$26K	—	100x	as long as short