Funding you earn now, next payment 00:00 UTC+0.0087%/8h= +9.6% APRnext payment +$0.87 per $10,000 · paid last 24h +0.016%
Price spread now: Bybit against Phemex−0.097%53s7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as 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−$400.396% of the position
Funding, last 7 days+0.022%+$2 on $10k
+Price spread, last 3 days (all we have)+0.239%+$24 · spread now −0.097%, 7d avg −0.021%
=Funding pays, the price is against you. Bybit is 0.076% cheaper against Phemex than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of −0.021%). If the spread goes back, that is −$8 on $10k: about 2.9 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.022% in total) that is about 25 days. The two prices were read 53 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 | Phemex BCHUSDT | 267.06 | −0.0197 | get 0.0197% / 8h | 2h 52m | $4.9M | $6.3M | 50x |
| Short | Bybit BCHUSDT | 266.80 | −0.0109 | pay 0.0109% / 8h | 2h 52m | $39.3M | $32.4M | 75x |
Phemex BCHUSDT
Bybit BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $18.36
- Price spread: −0.097% → −0.021%
- −$7.61
- Slippage, 4 orders
- −$16.6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$28.85
- Costs to cover
- 0.396%
- Break-even
- 18.0 days
Slippage from Phemex: live order book, 2 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 Phemex live order book, 2 min ago | 0.94 bp | 7.9 bp −$8 | 17.1 bp −$171 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.87 bp | 11.2 bp −$11 | 20.8 bp −$208 | 86.6 bp −$8,657 | 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 | −0.0304% | 1h | 267.07 | +0.005% | $437K | $251K | 25x | as long as short |
| Injective BCH/USDC PERP | −0.0304% | 1h | 267.23 | +0.064% | $713 | $80K | 12x | as long as short |
| Phemex BCHUSDTlong | −0.0197% | 8h | 267.06 | long leg | $4.9M | $6.3M | 50x | |
| Binance BCHUSDT | −0.0121% | 8h | 266.82 | −0.090% | $73.7M | $231.5M | 75x | as long as short |
| MEXC BCH_USDT | −0.0121% | 8h | 267.41 | +0.131% | $70.8M | $6.3M | 200x | as long as short |
| Extended BCH-USD | −0.0120% | 1h | 266.72 | −0.129% | $105K | $643K | 25x | as long as short |
| Bybit BCHUSDTshort | −0.0109% | 8h | 266.80 | −0.097% | $39.3M | $32.4M | 75x | |
| Variational Omni BCH | −0.0085% | 8h | 266.75 | −0.117% | $85K | $291K | — | as long as short |
| SoDEX BCH-USD | −0.0079% | 1h | 266.95 | −0.041% | $2K | $6K | 10x | as long as short |
| GRVT BCH_USDT_Perp | −0.0073% | 8h | 267.12 | +0.021% | $389K | $17K | 10x | as long as short |
Deribit BCH_USDC-PERPETUAL
Injective BCH/USDC PERP
Binance BCHUSDT
MEXC BCH_USDT
Extended BCH-USD
Variational Omni BCH
SoDEX BCH-USD
GRVT BCH_USDT_PerpShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget BCHUSDT | −0.0058% | 8h | 266.71 | −0.131% | $19.9M | $29.2M | 75x | as long as short |
| Gate BCH_USDT | −0.0042% | 8h | 266.84 | −0.082% | $8.3M | $14.3M | 75x | as long as short |
| BingX BCH-USDC | −0.0025% | 8h | 266.88 | −0.067% | — | $6.5M | — | as long as short |
| Coinbase International BCH-PERP-INTX | −0.0024% | 1h | 267.21 | +0.056% | $255K | $2.1M | 50x | as long as short |
| OKX BCH-USDT-SWAP | −0.0022% | 8h | 266.80 | −0.097% | $26.1M | $76.4M | 50x | as long as short |
| BloFin BCH-USDT | −0.0002% | 8h | 266.77 | −0.109% | $4.0M | $4.1M | 50x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 266.90 | −0.059% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 267.18 | +0.045% | $1.1M | $11.7M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 266.98 | −0.030% | $4K | — | 150x | as long as short |
| Orderly PERP_BCH_USDC | +0.0030% | 8h | 266.81 | −0.094% | $2K | $176 | 10x | as long as short |
| Nado BCH-PERP | +0.0045% | 1h | 266.75 | −0.116% | $439K | $428K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0070% | 8h | 266.85 | −0.079% | $8.8M | $8.1M | 75x | as long as short |
| Kraken Futures PF_BCHUSD | +0.0074% | 1h | 267.20 | +0.053% | $804K | $3.2M | 50x | as long as short |
| Lighter BCH | +0.0096% | 1h | 266.82 | −0.089% | $374K | $580K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 267.02 | −0.015% | $6.0M | $4.1M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 266.95 | −0.041% | $234K | $674K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 266.89 | −0.064% | $168K | $461K | 10x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 266.99 | −0.027% | $19K | $288K | 20x | as long as short |
| ApeX Omni BCHUSDT | +0.0100% | 1h | 266.97 | −0.034% | $73K | $214K | 50x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 266.75 | −0.116% | $1K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 266.92 | −0.052% | $768K | $1.7M | 75x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0365% / S −0.0554% | 1h | 266.96 | −0.038% | $25K | — | 100x | as long as short |
Bitget BCHUSDT
Gate BCH_USDT
BingX BCH-USDC
Coinbase International BCH-PERP-INTX
OKX BCH-USDT-SWAP
BloFin BCH-USDT
dYdX BCH-USD
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Orderly PERP_BCH_USDC
Nado BCH-PERP
KuCoin BCHUSDTM
Kraken Futures PF_BCHUSD
Lighter BCH
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
edgeX BCHUSDC
ApeX Omni BCHUSDT
SunX BCH-USDT
HTX BCH-USDT
GMX BCH/USD [WBTC.b-USDC]