Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.007%

Price spread now: GRVT against Lighter+0.136%78s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.417% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.136%, 7d avg −0.005%

Together, before fees+0.002%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.140% dearer against Lighter than usual: you sell high and buy low (spread +0.136% now, against its 7-day average of −0.005%): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BCH	265.11	0.0096	pay 0.0012% / 1h	59m 55s	$353K	$498K	10x
Short	GRVT BCH_USDT_Perp	265.47	−0.0010	pay 0.0010% / 8h	1h 59m	$387K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.136%Rate

Funding earned: −$22.26
Price spread: +0.136% → −0.005%: $14.05
Slippage, 4 orders: −$32.66
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$49.87
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Lighter: live order book, 40 min ago; GRVT: live order book, 48 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, 40 min ago	7.77 bp	12.2 bp −$12	77.9 bp −$779	174.5 bp −$17.4K	doesn't fit
Sell GRVT live order book, 48 min ago	1.33 bp	7.7 bp −$8	13.9 bp −$139	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	−0.0268%	1h	265.09	−0.006%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0194%	8h	265.03	−0.028%	$774K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0173%	8h	265.07	−0.013%	$5.0M	$6.6M	50x	as long as short
KuCoin BCHUSDTM	−0.0098%	8h	265.08	−0.009%	$8.5M	$6.8M	75x	as long as short
Bitget BCHUSDT	−0.0097%	8h	264.90	−0.077%	$19.0M	$28.6M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0070%	8h	264.70	−0.153%	$25.3M	$78.1M	50x	as long as short
Variational Omni BCH	−0.0070%	8h	265.20	+0.036%	$81K	$196K	—	as long as short
Binance BCHUSDT	−0.0043%	8h	264.96	−0.053%	$73.0M	$221.2M	75x	as long as short
MEXC BCH_USDT	−0.0042%	8h	265.38	+0.104%	$70.6M	$8.5M	200x	as long as short
Extended BCH-USD	−0.0040%	1h	264.69	−0.155%	$115K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0040%	1h	265.56	+0.172%	$221K	$1.9M	50x	as long as short
Bybit BCHUSDT	−0.0031%	8h	264.87	−0.089%	$38.9M	$31.8M	75x	as long as short
Nado BCH-PERP	−0.0030%	1h	265.05	−0.022%	$436K	$355K	10x	as long as short
BingX BCH-USDT	−0.0020%	8h	265.00	−0.040%	—	$32.9M	—	as long as short
SunX BCH-USDT	−0.0014%	8h	264.96	−0.055%	$2K	$1.7M	30x	as long as short
GRVT BCH_USDT_Perpshort	−0.0010%	8h	265.47	+0.136%	$387K	$17K	10x
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.32	+0.080%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.35	+0.094%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.42	+0.119%	$992K	$10.5M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.23	+0.046%	$441K	$333K	25x	as long as short
Gate BCH_USDT	+0.0016%	8h	265.08	−0.009%	$8.3M	$13.9M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.922%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	265.08	−0.009%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0066%	8h	265.02	−0.032%	$150K	$564K	75x	as long as short
BloFin BCH-USDT	+0.0077%	8h	265.23	+0.047%	$3.9M	$4.5M	50x	as long as short
Lighter BCHlong	+0.0096%	1h	265.11	long leg	$353K	$498K	10x
Hyperliquid BCH	+0.0100%	1h	265.21	+0.040%	$5.7M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	265.19	+0.032%	$159K	$312K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.39	+0.109%	$18K	$346K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.88	+0.292%	$95K	$237K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0179%	1h	265.26	+0.058%	$848K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	265.26	+0.059%	$12K	—	100x	as long as short