Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0413%/8h= +45.3% APRpaid last 24h +0.032%

Price spread now: Pacifica against Phemex−0.039%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.282%+$28 · spread now −0.039%, 7d avg +0.012%

Together, before fees+0.304%+ Points / potential airdropPacifica: Active · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.051% cheaper against Phemex than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.012%). If the spread goes back, that is −$5 on $10k: about 10 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.022% in total) that is about 16 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.022% in total (about 1.2% 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	Phemex BCHUSDT	264.96	−0.0337	get 0.0337% / 8h	4h 53m	$4.9M	$6.3M	50x
Short	Pacifica BCH	264.86	0.0077	get 0.0010% / 1h	53m 09s	$161K	$321K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.039%Rate

Funding earned: $86.8
Price spread: −0.039% → +0.012%: −$5.09
Slippage, 4 orders: −$20.38
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $41.33
Costs to cover: 0.404%
Break-even: 3.7 days

Slippage from Phemex: live order book, 6 min ago; Pacifica: live order book, 5 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	2.27 bp	10.0 bp −$10	20.1 bp −$201	doesn't fit	doesn't fit
Sell Pacifica live order book, 5 min ago	0.19 bp	8.3 bp −$8	doesn't fit	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
SunX BCH-USDT	−0.0852%	8h	264.58	−0.143%	$2K	$1.7M	30x	as long as short
ApeX Omni BCHUSDT	−0.0625%	1h	264.10	−0.325%	$96K	$228K	50x	as long as short
HTX BCH-USDT	−0.0346%	8h	264.94	−0.008%	$773K	$1.4M	75x	as long as short
SoDEX BCH-USD	−0.0338%	1h	264.95	−0.004%	$2K	$8K	10x	as long as short
Phemex BCHUSDTlong	−0.0337%	8h	264.96	long leg	$4.9M	$6.3M	50x
Nado BCH-PERP	−0.0205%	1h	264.75	−0.079%	$421K	$338K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0122%	8h	264.00	−0.363%	$385K	$17K	10x	as long as short
Extended BCH-USD	−0.0104%	1h	264.88	−0.030%	$112K	$952K	25x	as long as short
Coinbase International BCH-PERP-INTX	−0.0104%	1h	265.07	+0.042%	$221K	$1.8M	50x	as long as short
Binance BCHUSDT	−0.0104%	8h	264.89	−0.025%	$72.1M	$213.4M	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	−0.0103%	8h	265.38	+0.159%	$70.0M	$7.2M	200x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0101%	1h	265.11	+0.057%	$444K	$331K	25x	as long as short
Gate BCH_USDT	−0.0092%	8h	264.95	−0.004%	$8.3M	$13.3M	75x	as long as short
Variational Omni BCH	−0.0092%	8h	265.11	+0.055%	$81K	$201K	—	as long as short
OKX BCH-USDT-SWAP	−0.0084%	8h	264.80	−0.060%	$25.0M	$74.1M	50x	as long as short
KuCoin BCHUSDTM	−0.0078%	8h	265.10	+0.053%	$8.5M	$7.1M	75x	as long as short
Bitget BCHUSDT	−0.0073%	8h	264.80	−0.060%	$19.0M	$28.1M	75x	as long as short
BingX BCH-USDC	−0.0039%	8h	264.91	−0.019%	—	$6.5M	—	as long as short
Bybit BCHUSDT	−0.0028%	8h	264.80	−0.060%	$39.1M	$30.9M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.13	+0.065%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.05	+0.036%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.23	+0.102%	$1.1M	$10.2M	2.7x	as long as short
Kraken Futures PF_BCHUSD	+0.0011%	1h	265.17	+0.078%	$850K	$3.0M	50x	as long as short
BloFin BCH-USDT	+0.0016%	8h	264.84	−0.045%	$4.0M	$4.2M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.978%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0035%	8h	264.94	−0.008%	$2K	$176	10x	as long as short
Pacifica BCHshort	+0.0077%	1h	264.86	−0.039%	$161K	$321K	10x
Lighter BCH	+0.0096%	1h	264.94	−0.008%	$362K	$482K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.17	+0.079%	$5.7M	$4.6M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	265.19	+0.087%	$168K	$519K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.77	−0.070%	$19K	$290K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0356% / S −0.0525%	1h	265.12	+0.060%	$25K	—	100x	as long as short