Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.003%

Price spread now: Injective against Phemex−0.198%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Injective is 0.198% cheaper against Phemex than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.169%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BCHUSDT	267.76	−0.0197	get 0.0197% / 8h	2h 34m	$4.9M	$6.2M	50x
Short	Injective BCH/USDC PERP	267.23	−0.0304	pay 0.0038% / 1h	34m 57s	$713	$80K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.198%Rate

Funding earned: −$22.45
Price spread: −0.198% → 0.000%: −$19.79
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$54.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Injective: 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	1.31 bp	9.7 bp −$10	16.8 bp −$168	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0317%	1h	267.86	+0.038%	$438K	$247K	25x	as long as short
Injective BCH/USDC PERPshort	−0.0304%	1h	267.23	−0.198%	$713	$80K	12x
Phemex BCHUSDTlong	−0.0197%	8h	267.76	long leg	$4.9M	$6.2M	50x
SoDEX BCH-USD	−0.0188%	1h	267.74	−0.007%	$2K	$6K	10x	as long as short
Extended BCH-USD	−0.0120%	1h	267.97	+0.079%	$105K	$643K	25x	as long as short
Binance BCHUSDT	−0.0117%	8h	268.02	+0.097%	$74.0M	$229.1M	75x	as long as short
MEXC BCH_USDT	−0.0116%	8h	268.43	+0.250%	$71.1M	$6.4M	200x	as long as short
Variational Omni BCH	−0.0080%	8h	267.64	−0.045%	$85K	$291K	—	as long as short
Bybit BCHUSDT	−0.0068%	8h	267.95	+0.071%	$39.5M	$32.0M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0051%	8h	268.04	+0.103%	$391K	$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	−0.0050%	8h	268.01	+0.093%	$20.0M	$28.8M	75x	as long as short
Gate BCH_USDT	−0.0033%	8h	267.85	+0.034%	$8.4M	$14.4M	75x	as long as short
Coinbase International BCH-PERP-INTX	−0.0024%	1h	267.90	+0.052%	$246K	$2.1M	50x	as long as short
BingX BCH-USDT	−0.0007%	8h	267.83	+0.026%	—	$32.1M	—	as long as short
OKX BCH-USDT-SWAP	−0.0005%	8h	268.10	+0.127%	$26.2M	$75.8M	50x	as long as short
dYdX BCH-USD	0.0000%	1h	267.81	+0.019%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	267.87	+0.041%	$1.1M	$11.4M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	267.87	+0.042%	$4K	—	150x	as long as short
BloFin BCH-USDT	+0.0003%	8h	267.76	0.000%	$4.0M	$4.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	267.72	−0.015%	$2K	$176	10x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	268.03	+0.101%	$804K	$3.2M	50x	as long as short
KuCoin BCHUSDTM	+0.0087%	8h	267.79	+0.011%	$8.9M	$8.0M	75x	as long as short
Nado BCH-PERP	+0.0088%	1h	267.64	−0.044%	$438K	$427K	10x	as long as short
Lighter BCH	+0.0096%	1h	267.77	+0.003%	$375K	$580K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	268.13	+0.136%	$6.0M	$4.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	267.77	+0.004%	$234K	$660K	75x	as long as short
Pacifica BCH	+0.0100%	1h	267.67	−0.032%	$169K	$460K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.36	−0.148%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	268.16	+0.149%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.54	−0.082%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.63	−0.049%	$770K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0372% / S −0.0574%	1h	267.87	+0.041%	$26K	—	100x	as long as short