Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.017%

Price spread now: Coinbase International against OKX+0.112%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$490.488% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 3 days (all we have)−0.230%−$23 · spread now +0.112%, 7d avg +0.057%

Together, before fees−0.245%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.055% dearer against OKX than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of +0.057%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 7 days (−0.015% in total) that is about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BCH-USDT-SWAP	267.60	−0.0006	get 0.0006% / 8h	2h 35m	$26.2M	$75.6M	50x
Short	Coinbase International BCH-PERP-INTX	267.90	−0.0024	pay 0.0003% / 1h	35m 56s	$246K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$3.81
Price spread: +0.112% → +0.057%: $5.51
Slippage, 4 orders: −$28.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$47.12
Costs to cover: 0.488%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 3 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 OKX live order book, 3 min ago	1.87 bp	10.6 bp −$11	20.5 bp −$205	105.2 bp −$10.5K	doesn't fit
Sell Coinbase International live order book, 3 min ago	5.04 bp	13.8 bp −$14	18.1 bp −$181	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
Deribit BCH_USDC-PERPETUAL	−0.0426%	1h	267.54	−0.023%	$437K	$247K	25x	as long as short
Injective BCH/USDC PERP	−0.0304%	1h	267.23	−0.138%	$713	$80K	12x	as long as short
Phemex BCHUSDT	−0.0200%	8h	267.45	−0.056%	$4.9M	$6.2M	50x	as long as short
SoDEX BCH-USD	−0.0192%	1h	267.45	−0.056%	$2K	$6K	10x	as long as short
Extended BCH-USD	−0.0120%	1h	267.42	−0.067%	$105K	$643K	25x	as long as short
MEXC BCH_USDT	−0.0118%	8h	268.10	+0.187%	$71.0M	$6.3M	200x	as long as short
Binance BCHUSDT	−0.0117%	8h	267.55	−0.019%	$73.9M	$229.1M	75x	as long as short
Variational Omni BCH	−0.0086%	8h	267.45	−0.056%	$85K	$291K	—	as long as short
Bybit BCHUSDT	−0.0071%	8h	267.60	0.000%	$39.4M	$32.0M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0057%	8h	267.55	−0.020%	$390K	$17K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0051%	8h	267.62	+0.007%	$20.0M	$28.8M	75x	as long as short
Gate BCH_USDT	−0.0036%	8h	267.54	−0.022%	$8.4M	$14.4M	75x	as long as short
Coinbase International BCH-PERP-INTXshort	−0.0024%	1h	267.90	+0.112%	$246K	$2.0M	50x
BingX BCH-USDC	−0.0012%	8h	267.61	+0.004%	—	$6.5M	—	as long as short
OKX BCH-USDT-SWAPlong	−0.0006%	8h	267.60	long leg	$26.2M	$75.6M	50x
dYdX BCH-USD	0.0000%	1h	267.89	+0.108%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.01	+0.153%	$1.1M	$11.4M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	267.63	+0.011%	$4K	—	150x	as long as short
BloFin BCH-USDT	+0.0001%	8h	268.11	+0.191%	$4.0M	$4.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	267.42	−0.067%	$2K	$176	10x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	267.75	+0.056%	$803K	$3.2M	50x	as long as short
KuCoin BCHUSDTM	+0.0085%	8h	267.50	−0.037%	$8.8M	$8.0M	75x	as long as short
Nado BCH-PERP	+0.0090%	1h	267.58	−0.006%	$438K	$427K	10x	as long as short
Lighter BCH	+0.0096%	1h	267.55	−0.020%	$375K	$580K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	267.80	+0.075%	$6.0M	$4.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	267.55	−0.020%	$234K	$660K	75x	as long as short
Pacifica BCH	+0.0100%	1h	267.78	+0.067%	$169K	$460K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.36	−0.089%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.67	+0.026%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.51	−0.034%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.60	0.000%	$770K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0365% / S −0.0554%	1h	267.65	+0.018%	$25K	—	100x	as long as short