Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0536%/8h= +58.7% APRpaid last 24h +0.067%

Price spread now: GMX against Phemex+0.070%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and GMX is 0.070% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BCHUSDT	271.23	−0.0196	get 0.0196% / 8h	54m 38s	$5.0M	$6.5M	50x
Short	GMX BCH/USD [WBTC.b-USDC]	271.42	L +0.0335% / S −0.0340%	get 0.0042% / 1h	54m 38s	$27K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phemex. 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 PhemexbpFee GMXbpOrdersPrice spread, now +0.070%Rate

Funding earned: $112.56
Price spread: +0.070% → 0.000%: $7.04
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $95.59
Costs to cover: 0.240%
Break-even: 1.1 days

Slippage unknown: Phemex: live order book, 4 min ago; GMX: no order-book sample. 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 Phemex live order book, 4 min ago	0.19 bp	8.5 bp −$8	16.6 bp −$166	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0383%	1h	271.34	+0.041%	$458K	$266K	25x	as long as short
Phemex BCHUSDTlong	−0.0196%	8h	271.23	long leg	$5.0M	$6.5M	50x
Variational Omni BCH	−0.0132%	8h	270.91	−0.117%	$83K	$294K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0124%	1h	271.56	+0.123%	$821K	$3.2M	50x	as long as short
Bybit BCHUSDT	−0.0077%	8h	271.16	−0.026%	$39.6M	$33.2M	75x	as long as short
Injective BCH/USDC PERP	−0.0054%	1h	270.20	−0.380%	$721	$130K	12x	as long as short
Extended BCH-USD	−0.0032%	1h	271.11	−0.044%	$117K	$653K	25x	as long as short
Coinbase International BCH-PERP-INTX	−0.0032%	1h	271.38	+0.055%	$241K	$2.1M	50x	as long as short
MEXC BCH_USDT	−0.0031%	8h	271.75	+0.192%	$71.2M	$6.6M	200x	as long as short
Binance BCHUSDT	−0.0029%	8h	271.25	+0.007%	$75.6M	$234.8M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BCH-USD	0.0000%	1h	271.33	+0.037%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	271.54	+0.114%	$1.3M	$11.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	271.35	+0.045%	$5K	—	150x	as long as short
Gate BCH_USDT	+0.0008%	8h	271.31	+0.029%	$8.4M	$14.4M	75x	as long as short
SoDEX BCH-USD	+0.0022%	1h	271.25	+0.007%	$2K	$6K	10x	as long as short
Orderly PERP_BCH_USDC	+0.0024%	8h	271.21	−0.007%	$2K	$176	10x	as long as short
GRVT BCH_USDT_Perp	+0.0025%	8h	270.89	−0.124%	$395K	$17K	10x	as long as short
Bitget BCHUSDT	+0.0035%	8h	271.15	−0.029%	$19.6M	$29.6M	75x	as long as short
BingX BCH-USDT	+0.0055%	8h	271.23	0.000%	—	$30.6M	—	as long as short
OKX BCH-USDT-SWAP	+0.0059%	8h	271.20	−0.011%	$26.7M	$79.3M	50x	as long as short
Nado BCH-PERP	+0.0083%	1h	271.08	−0.056%	$443K	$429K	10x	as long as short
BloFin BCH-USDT	+0.0089%	8h	271.34	+0.041%	$4.0M	$4.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	271.21	−0.006%	$375K	$554K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	271.56	+0.122%	$6.1M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	271.29	+0.023%	$219K	$705K	75x	as long as short
Pacifica BCH	+0.0100%	1h	271.23	0.000%	$165K	$467K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	271.33	+0.037%	$9.3M	$7.9M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	270.84	−0.144%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	270.90	−0.122%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	271.11	−0.044%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	271.22	−0.004%	$780K	$1.7M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]short	L +0.0335% / S −0.0340%	1h	271.42	+0.070%	$27K	—	100x