Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0376%/8h= −41.2% APRpaid last 24h −0.084%

Price spread now: Deribit against OKX+0.025%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.025%, 7d avg +0.052%

Together, before fees−0.218%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Deribit is 0.027% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.197% in total (about -10.3% 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	OKX BCH-USDT-SWAP	269.40	0.0007	pay 0.0007% / 8h	7h 15m	$26.2M	$76.5M	50x
Short	Deribit BCH_USDC-PERPETUAL	269.47	−0.0369	pay 0.0046% / 1h	15m 50s	$455K	$266K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$78.96
Price spread: +0.025% → +0.052%: −$2.71
Slippage, 4 orders: −$18.97
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$117.64
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Deribit: live order book, 58 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	18.1 bp −$181	122.4 bp −$12.2K	doesn't fit
Sell Deribit live order book, 58 min ago	3.96 bp	8.4 bp −$8	14.6 bp −$146	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
Phemex BCHUSDT	−0.0577%	8h	269.42	+0.007%	$5.0M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0556%	1h	269.54	+0.052%	$2K	$6K	10x	as long as short
Deribit BCH_USDC-PERPETUALshort	−0.0369%	1h	269.47	+0.025%	$455K	$266K	25x
ApeX Omni BCHUSDT	−0.0184%	1h	269.15	−0.093%	$73K	$215K	50x	as long as short
GRVT BCH_USDT_Perp	−0.0179%	8h	269.07	−0.122%	$392K	$17K	10x	as long as short
Gate BCH_USDT	−0.0165%	8h	269.59	+0.071%	$8.5M	$14.3M	75x	as long as short
Variational Omni BCH	−0.0128%	8h	268.91	−0.183%	$82K	$285K	—	as long as short
Bybit BCHUSDT	−0.0094%	8h	269.54	+0.052%	$39.9M	$32.6M	75x	as long as short
Extended BCH-USD	−0.0072%	1h	269.48	+0.031%	$117K	$961K	25x	as long as short
Binance BCHUSDT	−0.0070%	8h	269.55	+0.057%	$73.0M	$229.5M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BCH_USDT	−0.0069%	8h	270.01	+0.226%	$70.9M	$6.7M	200x	as long as short
Coinbase International BCH-PERP-INTX	−0.0056%	1h	268.56	−0.312%	$230K	$2.0M	50x	as long as short
Kraken Futures PF_BCHUSD	−0.0049%	1h	269.78	+0.142%	$859K	$3.1M	50x	as long as short
Bitget BCHUSDT	−0.0023%	8h	269.47	+0.026%	$19.3M	$29.1M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0003% / S +0.0007%	1h	269.35	−0.020%	$7K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	269.14	−0.095%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	269.36	−0.015%	$1.1M	$10.9M	2.7x	as long as short
OKX BCH-USDT-SWAPlong	+0.0007%	8h	269.40	long leg	$26.2M	$76.5M	50x
BingX BCH-USDC	+0.0013%	8h	269.47	+0.026%	—	$6.5M	—	as long as short
Nado BCH-PERP	+0.0019%	1h	268.88	−0.191%	$440K	$419K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	269.25	−0.056%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.297%	$721	$130K	12x	as long as short
BloFin BCH-USDT	+0.0050%	8h	268.56	−0.312%	$3.9M	$4.2M	50x	as long as short
HTX BCH-USDT	+0.0072%	8h	269.25	−0.056%	$782K	$1.6M	75x	as long as short
Lighter BCH	+0.0096%	1h	269.53	+0.047%	$371K	$530K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	269.89	+0.182%	$6.6M	$4.6M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	269.47	+0.026%	$178K	$658K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.99	−0.150%	$164K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.53	+0.048%	$8.8M	$7.7M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.14	−0.096%	$19K	$291K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.08	−0.119%	$1K	$1.9M	30x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0334% / S −0.0451%	1h	269.40	0.000%	$25K	—	100x	as long as short