Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0187%/8h= −20.5% APRpaid last 24h −0.022%

Price spread now: Variational Omni against Lighter+0.172%7-day average −0.025% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)−0.160%−$16 · spread now +0.172%, 7d avg −0.025%

Together, before fees−0.209%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.197% dearer against Lighter than usual: you sell high and buy low (spread +0.172% now, against its 7-day average of −0.025%): +$20 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 3 days (−0.049% in total) that is about 13 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.049% in total (about -5.6% 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	266.89	0.0096	pay 0.0012% / 1h	57m 33s	$375K	$579K	10x
Short	Variational Omni BCH	267.35	−0.0091	pay 0.0091% / 8h	2h 57m	$85K	$291K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.172%Rate

Funding earned: −$39.28
Price spread: +0.172% → −0.025%: $19.71
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.58
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 26 min ago; Variational Omni: RFQ quote, 31 min ago. 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 Lighter live order book, 26 min ago	4.65 bp	5.2 bp −$5	55.2 bp −$552	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 31 min ago	5.99 bp	doesn't fit	20.7 bp −$207	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
Injective BCH/USDC PERP	−0.0304%	1h	267.99	+0.410%	$715	$47K	12x	as long as short
Phemex BCHUSDT	−0.0207%	8h	266.90	+0.002%	$4.9M	$6.3M	50x	as long as short
SoDEX BCH-USD	−0.0136%	1h	266.86	−0.013%	$2K	$6K	10x	as long as short
Binance BCHUSDT	−0.0124%	8h	266.90	+0.002%	$73.8M	$231.6M	75x	as long as short
MEXC BCH_USDT	−0.0123%	8h	267.39	+0.185%	$70.8M	$6.3M	200x	as long as short
Extended BCH-USD	−0.0120%	1h	266.70	−0.074%	$105K	$643K	25x	as long as short
Bybit BCHUSDT	−0.0119%	8h	266.81	−0.032%	$39.4M	$32.5M	75x	as long as short
Variational Omni BCHshort	−0.0091%	8h	267.35	+0.172%	$85K	$291K	—
GRVT BCH_USDT_Perp	−0.0077%	8h	267.31	+0.156%	$390K	$17K	10x	as long as short
Bitget BCHUSDT	−0.0060%	8h	266.72	−0.066%	$20.1M	$29.1M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BCH_USDT	−0.0046%	8h	266.88	−0.006%	$8.3M	$14.3M	75x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0035%	1h	266.99	+0.036%	$437K	$254K	25x	as long as short
BingX BCH-USDC	−0.0032%	8h	266.89	−0.002%	—	$6.5M	—	as long as short
OKX BCH-USDT-SWAP	−0.0029%	8h	266.70	−0.073%	$26.1M	$76.2M	50x	as long as short
Coinbase International BCH-PERP-INTX	−0.0024%	1h	267.52	+0.234%	$261K	$2.1M	50x	as long as short
BloFin BCH-USDT	−0.0004%	8h	267.26	+0.137%	$4.0M	$4.1M	50x	as long as short
dYdX BCH-USD	0.0000%	1h	267.11	+0.081%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	267.37	+0.178%	$1.1M	$11.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	267.17	+0.104%	$4K	—	150x	as long as short
Orderly PERP_BCH_USDC	+0.0030%	8h	266.94	+0.017%	$2K	$176	10x	as long as short
KuCoin BCHUSDTM	+0.0063%	8h	266.93	+0.013%	$8.8M	$8.1M	75x	as long as short
Nado BCH-PERP	+0.0072%	1h	266.80	−0.035%	$438K	$430K	10x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	267.09	+0.071%	$805K	$3.2M	50x	as long as short
Lighter BCHlong	+0.0096%	1h	266.89	long leg	$375K	$579K	10x
Hyperliquid BCH	+0.0100%	1h	267.18	+0.107%	$6.0M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	267.09	+0.074%	$234K	$682K	75x	as long as short
Pacifica BCH	+0.0100%	1h	266.86	−0.012%	$168K	$461K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.32	+0.157%	$19K	$287K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.43	+0.200%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	266.97	+0.028%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.02	+0.047%	$771K	$1.7M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0371% / S −0.0574%	1h	267.12	+0.085%	$26K	—	100x	as long as short