Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0184%/8h= −20.2% APRpaid last 24h −0.004%

Price spread now: Bybit against Lighter−0.047%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.047%, 7d avg −0.032%

Together, before fees+0.021%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.068%, 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 0.068% in total (about 3.6% 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	Lighter BCH	268.83	0.0096	pay 0.0012% / 1h	33m 07s	$371K	$555K	10x
Short	Bybit BCHUSDT	268.70	−0.0088	pay 0.0088% / 8h	33m 07s	$39.3M	$32.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$38.67
Price spread: −0.047% → −0.032%: −$1.49
Slippage, 4 orders: −$22.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73.54
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Lighter: live order book, 37 min ago; Bybit: 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 Lighter live order book, 37 min ago	3.96 bp	6.1 bp −$6	52.5 bp −$525	164.4 bp −$16.4K	doesn't fit
Sell Bybit live order book, 1 min ago	1.86 bp	10.2 bp −$10	18.0 bp −$180	65.9 bp −$6,593	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	−0.0456%	1h	268.92	+0.036%	$454K	$266K	25x	as long as short
SoDEX BCH-USD	−0.0154%	1h	268.75	−0.028%	$2K	$6K	10x	as long as short
Phemex BCHUSDT	−0.0151%	8h	268.89	+0.024%	$4.9M	$6.5M	50x	as long as short
Variational Omni BCH	−0.0142%	8h	268.82	−0.003%	$82K	$294K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0125%	1h	269.12	+0.108%	$829K	$3.1M	50x	as long as short
Bybit BCHUSDTshort	−0.0088%	8h	268.70	−0.047%	$39.3M	$32.6M	75x
Injective BCH/USDC PERP	−0.0054%	1h	270.20	+0.511%	$721	$130K	12x	as long as short
Coinbase International BCH-PERP-INTX	−0.0032%	1h	268.89	+0.024%	$236K	$2.1M	50x	as long as short
Extended BCH-USD	−0.0024%	1h	268.70	−0.046%	$116K	$652K	25x	as long as short
MEXC BCH_USDT	−0.0021%	8h	269.33	+0.187%	$70.5M	$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
Binance BCHUSDT	−0.0020%	8h	268.80	−0.009%	$74.7M	$230.7M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	269.01	+0.067%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	269.14	+0.117%	$1.3M	$11.5M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.96	+0.049%	$4K	—	150x	as long as short
Gate BCH_USDT	+0.0009%	8h	268.87	+0.016%	$8.4M	$14.5M	75x	as long as short
Orderly PERP_BCH_USDC	+0.0028%	8h	268.79	−0.013%	$2K	$176	10x	as long as short
GRVT BCH_USDT_Perp	+0.0028%	8h	269.11	+0.107%	$392K	$17K	10x	as long as short
Bitget BCHUSDT	+0.0032%	8h	268.74	−0.032%	$19.1M	$29.2M	75x	as long as short
OKX BCH-USDT-SWAP	+0.0039%	8h	268.70	−0.047%	$26.3M	$77.7M	50x	as long as short
BingX BCH-USDC	+0.0043%	8h	268.76	−0.025%	—	$6.5M	—	as long as short
Lighter BCHlong	+0.0096%	1h	268.83	long leg	$371K	$555K	10x
BloFin BCH-USDT	+0.0100%	8h	268.87	+0.016%	$4.0M	$4.2M	50x	as long as short
Nado BCH-PERP	+0.0100%	1h	268.75	−0.028%	$444K	$427K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	269.14	+0.118%	$6.0M	$4.3M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	268.84	+0.005%	$216K	$709K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.76	−0.024%	$163K	$467K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	268.87	+0.016%	$9.2M	$7.8M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	268.98	+0.056%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	269.10	+0.102%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	268.56	−0.099%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	268.68	−0.054%	$777K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0334% / S −0.0340%	1h	268.98	+0.057%	$27K	—	100x	as long as short