Funding you earn now, next payment 04:00 UTC+0.0554%/8h= +60.7% APRnext payment +$5.54 per $10,000 · paid last 24h +0.004%
Price spread now: Kalshi against Phemex+0.197%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$560.562% of the position
Funding, last 7 days−0.044%−$4 on $10k
+Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.197%, 7d avg −0.012%
=Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kalshi is 0.209% dearer against Phemex than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.012%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.044% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.54 per $10,000. 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 | Phemex BCHUSDT | 269.21 | −0.0554 | get 0.0554% / 8h | 7h 07m | $5.0M | $6.5M | 50x |
| Short | Kalshi KXBCHPERP | 269.74 | 0 | get 0.0000% / 8h | 3h 07m | $1.1M | $10.8M | 2.7x |
Phemex BCHUSDT
Kalshi KXBCHPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- $116.35
- Price spread: +0.197% → −0.012%
- $20.86
- Slippage, 4 orders
- −$34.17
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $81.05
- Costs to cover
- 0.562%
- Break-even
- 2.1 days
Slippage from Phemex: live order book, 6 min ago; Kalshi: 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, 6 min ago | 5.56 bp | 13.8 bp −$14 | 23.8 bp −$238 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 1 min ago | 6.68 bp | 16.9 bp −$17 | 23.0 bp −$230 | 56.1 bp −$5,610 | 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 | −0.0651% | 1h | 269.31 | +0.039% | $455K | $266K | 25x | as long as short |
| Phemex BCHUSDTlong | −0.0554% | 8h | 269.21 | long leg | $5.0M | $6.5M | 50x | |
| SoDEX BCH-USD | −0.0540% | 1h | 269.24 | +0.011% | $2K | $6K | 10x | as long as short |
| ApeX Omni BCHUSDT | −0.0198% | 1h | 269.47 | +0.097% | $73K | $214K | 50x | as long as short |
| GRVT BCH_USDT_Perp | −0.0169% | 8h | 269.62 | +0.152% | $393K | $17K | 10x | as long as short |
| Gate BCH_USDT | −0.0168% | 8h | 269.37 | +0.059% | $8.5M | $14.3M | 75x | as long as short |
| Variational Omni BCH | −0.0126% | 8h | 269.21 | −0.002% | $83K | $285K | — | as long as short |
| Binance BCHUSDT | −0.0073% | 8h | 269.25 | +0.015% | $72.9M | $229.4M | 75x | as long as short |
| Extended BCH-USD | −0.0072% | 1h | 269.26 | +0.018% | $117K | $961K | 25x | as long as short |
| MEXC BCH_USDT | −0.0071% | 8h | 269.71 | +0.186% | $70.7M | $6.7M | 200x | as long as short |
Deribit BCH_USDC-PERPETUAL
SoDEX BCH-USD
ApeX Omni BCHUSDT
GRVT BCH_USDT_Perp
Gate BCH_USDT
Variational Omni BCH
Binance BCHUSDT
Extended BCH-USD
MEXC BCH_USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International BCH-PERP-INTX | −0.0056% | 1h | 269.44 | +0.085% | $231K | $2.0M | 50x | as long as short |
| Kraken Futures PF_BCHUSD | −0.0049% | 1h | 269.56 | +0.129% | $858K | $3.1M | 50x | as long as short |
| Bybit BCHUSDT | −0.0034% | 8h | 269.33 | +0.045% | $39.8M | $32.5M | 75x | as long as short |
| Bitget BCHUSDT | −0.0026% | 8h | 269.30 | +0.033% | $19.3M | $29.2M | 75x | as long as short |
| OKX BCH-USDT-SWAP | −0.0007% | 8h | 269.20 | −0.004% | $26.2M | $76.3M | 50x | as long as short |
| gTrade (Gains Network) BCH/USD | L −0.0003% / S +0.0007% | 1h | 269.54 | +0.124% | $7K | — | 150x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 269.62 | +0.151% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERPshort | 0.0000% | 8h | 269.74 | +0.197% | $1.1M | $10.8M | 2.7x | |
| BingX BCH-USDT | +0.0005% | 8h | 269.34 | +0.048% | — | $32.3M | — | as long as short |
| Orderly PERP_BCH_USDC | +0.0029% | 8h | 269.21 | 0.000% | $2K | $176 | 10x | as long as short |
| Injective BCH/USDC PERP | +0.0033% | 1h | 270.20 | +0.368% | $721 | $130K | 12x | as long as short |
| Nado BCH-PERP | +0.0041% | 1h | 269.09 | −0.044% | $436K | $419K | 10x | as long as short |
| BloFin BCH-USDT | +0.0049% | 8h | 269.55 | +0.126% | $4.0M | $4.3M | 50x | as long as short |
| Lighter BCH | +0.0096% | 1h | 269.37 | +0.059% | $371K | $530K | 10x | as long as short |
| HTX BCH-USDT | +0.0099% | 8h | 269.59 | +0.141% | $783K | $1.6M | 75x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 269.64 | +0.160% | $6.6M | $4.6M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 269.22 | +0.005% | $177K | $658K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 269.36 | +0.056% | $164K | $407K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 269.27 | +0.022% | $8.8M | $7.6M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 269.34 | +0.047% | $19K | $290K | 20x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 269.01 | −0.074% | $2K | $1.9M | 30x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0335% / S −0.0451% | 1h | 269.43 | +0.082% | $25K | — | 100x | as long as short |
Coinbase International BCH-PERP-INTX
Kraken Futures PF_BCHUSD
Bybit BCHUSDT
Bitget BCHUSDT
OKX BCH-USDT-SWAP
gTrade (Gains Network) BCH/USD
dYdX BCH-USD
BingX BCH-USDT
Orderly PERP_BCH_USDC
Injective BCH/USDC PERP
Nado BCH-PERP
BloFin BCH-USDT
Lighter BCH
HTX BCH-USDT
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
SunX BCH-USDT
GMX BCH/USD [WBTC.b-USDC]