Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0205%/8h= +22.5% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against Binance+0.084%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 7 days−0.074%−$7 · spread now +0.084%, 7d avg +0.035%

Together, before fees+0.006%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.048% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.035%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.080% in total (about 4.2% 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	Binance BCHUSDT	263.42	−0.0105	get 0.0105% / 8h	4h 49m	$71.7M	$213.4M	75x
Short	Hyperliquid BCH	263.64	0.0100	get 0.0013% / 1h	49m 12s	$5.7M	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.084%Rate

Funding earned: $43.11
Price spread: +0.084% → +0.035%: $4.85
Slippage, 4 orders: −$13.8
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $15.17
Costs to cover: 0.328%
Break-even: 4.5 days

Slippage from Binance: live order book, 9 min ago; Hyperliquid: live order book, 3 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 Binance live order book, 9 min ago	0.19 bp	8.2 bp −$8	17.7 bp −$177	54.9 bp −$5,491	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.95 bp	8.4 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	−0.0799%	8h	263.34	−0.030%	$1K	$1.7M	30x	as long as short
SoDEX BCH-USD	−0.0405%	1h	263.39	−0.011%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0339%	8h	263.48	+0.023%	$768K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0325%	8h	263.56	+0.053%	$4.9M	$6.4M	50x	as long as short
Nado BCH-PERP	−0.0198%	1h	263.45	+0.011%	$419K	$338K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0114%	8h	264.97	+0.587%	$386K	$17K	10x	as long as short
Binance BCHUSDTlong	−0.0105%	8h	263.42	long leg	$71.7M	$213.4M	75x
Gate BCH_USDT	−0.0105%	8h	263.43	+0.004%	$8.2M	$13.3M	75x	as long as short
MEXC BCH_USDT	−0.0105%	8h	263.66	+0.091%	$69.7M	$7.4M	200x	as long as short
Extended BCH-USD	−0.0104%	1h	263.29	−0.051%	$111K	$951K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0104%	1h	264.21	+0.300%	$220K	$1.8M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0093%	8h	263.30	−0.046%	$24.8M	$73.8M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0091%	1h	263.56	+0.055%	$441K	$331K	25x	as long as short
Variational Omni BCH	−0.0089%	8h	263.90	+0.184%	$81K	$201K	—	as long as short
KuCoin BCHUSDTM	−0.0089%	8h	263.42	0.000%	$8.5M	$7.1M	75x	as long as short
ApeX Omni BCHUSDT	−0.0080%	1h	264.13	+0.270%	$96K	$228K	50x	as long as short
Bitget BCHUSDT	−0.0076%	8h	263.32	−0.038%	$18.9M	$28.1M	75x	as long as short
Bybit BCHUSDT	−0.0035%	8h	263.40	−0.008%	$38.9M	$30.9M	75x	as long as short
BingX BCH-USDT	−0.0025%	8h	263.41	−0.004%	—	$32.1M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	263.68	+0.097%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	263.93	+0.194%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	263.94	+0.197%	$1.0M	$10.2M	2.7x	as long as short
Kraken Futures PF_BCHUSD	+0.0011%	1h	263.58	+0.060%	$845K	$3.0M	50x	as long as short
BloFin BCH-USDT	+0.0015%	8h	263.43	+0.004%	$3.9M	$4.2M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.574%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0035%	8h	263.36	−0.023%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	263.63	+0.080%	$160K	$306K	10x	as long as short
Lighter BCH	+0.0096%	1h	263.45	+0.011%	$360K	$482K	10x	as long as short
Hyperliquid BCHshort	+0.0100%	1h	263.64	+0.084%	$5.7M	$4.6M	10x
Aster BCHUSDT	+0.0100%	8h	263.75	+0.125%	$167K	$520K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.82	+0.532%	$19K	$290K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0356% / S −0.0525%	1h	263.58	+0.062%	$25K	—	100x	as long as short