Funding you earn now, next payment 16:00 UTC−0.0243%/8h= −26.6% APRnext payment −$2.43 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against Binance−0.024%7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$450.453% of the position
Funding, last 7 days−0.037%−$4 on $10k
+Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.024%, 7d avg +0.002%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Phemex is 0.025% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.037% in total (about -1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.43 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BCHUSDT | 270.20 | −0.0068 | get 0.0068% / 8h | 5h 54m | $74.3M | $201.2M | 75x |
| Short | Phemex BCHUSDT | 270.14 | −0.0311 | pay 0.0311% / 8h | 5h 54m | $4.9M | $6.3M | 50x |
Binance BCHUSDT
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- −$51.02
- Price spread: −0.024% → +0.002%
- −$2.51
- Slippage, 4 orders
- −$23.25
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$98.78
- Costs to cover
- 0.453%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; Phemex: live order book, 2 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, 12 min ago | 0.19 bp | 7.7 bp −$8 | 14.6 bp −$146 | 45.7 bp −$4,574 | 137.4 bp −$68.7K |
| Sell Phemex live order book, 2 min ago | 6.11 bp | 14.5 bp −$15 | 22.7 bp −$227 | doesn't fit | doesn't fit |
BCH on 32 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX BCH-USD | −0.0400% | 1h | 270.19 | −0.005% | $2K | $8K | 10x | as long as short |
| Phemex BCHUSDTshort | −0.0311% | 8h | 270.14 | −0.024% | $4.9M | $6.3M | 50x | |
| Variational Omni BCH | −0.0131% | 8h | 269.88 | −0.119% | $152K | $229K | — | as long as short |
| OKX BCH-USDT-SWAP | −0.0113% | 8h | 270.10 | −0.038% | $26.0M | $75.6M | 50x | as long as short |
| Bybit BCHUSDT | −0.0088% | 8h | 270.15 | −0.020% | $39.5M | $30.9M | 75x | as long as short |
| Binance BCHUSDTlong | −0.0068% | 8h | 270.20 | long leg | $74.3M | $201.2M | 75x | |
| MEXC BCH_USDT | −0.0067% | 8h | 270.86 | +0.243% | $73.6M | $9.4M | 200x | as long as short |
| Extended BCH-USD | −0.0064% | 1h | 270.07 | −0.050% | $118K | $919K | 25x | as long as short |
| GRVT BCH_USDT_Perp | −0.0064% | 8h | 269.92 | −0.105% | $394K | $17K | 10x | as long as short |
| Gate BCH_USDT | −0.0053% | 8h | 270.19 | −0.005% | $8.2M | $12.2M | 75x | as long as short |
SoDEX BCH-USD
Variational Omni BCH
OKX BCH-USDT-SWAP
Bybit BCHUSDT
MEXC BCH_USDT
Extended BCH-USD
GRVT BCH_USDT_Perp
Gate BCH_USDTShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BCH_USDC-PERPETUAL | −0.0042% | 1h | 270.31 | +0.040% | $426K | $356K | 25x | as long as short |
| KuCoin BCHUSDTM | −0.0006% | 8h | 270.30 | +0.036% | $8.9M | $5.5M | 75x | as long as short |
| BingX BCH-USDC | −0.0005% | 8h | 270.19 | −0.005% | — | $6.5M | — | as long as short |
| gTrade (Gains Network) BCH/USD | L −0.0003% / S +0.0007% | 1h | 270.11 | −0.035% | $18K | — | 150x | as long as short |
| Bitget BCHUSDT | −0.0001% | 8h | 270.21 | +0.002% | $19.4M | $26.0M | 75x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 270.34 | +0.050% | $5K | $240 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 270.24 | +0.013% | $1.0M | $8.7M | 2.7x | as long as short |
| HTX BCH-USDT | +0.0022% | 8h | 269.92 | −0.105% | $788K | $1.2M | 75x | as long as short |
| Kraken Futures PF_BCHUSD | +0.0024% | 1h | 270.41 | +0.076% | $876K | $2.5M | 50x | as long as short |
| Pacifica BCH | +0.0033% | 1h | 270.19 | −0.004% | $156K | $270K | 10x | as long as short |
| Injective BCH/USDC PERP | +0.0033% | 1h | 270.20 | −0.001% | $721 | $130K | 12x | as long as short |
| Aster BCHUSDT | +0.0039% | 8h | 270.20 | −0.001% | $147K | $508K | 75x | as long as short |
| Orderly PERP_BCH_USDC | +0.0041% | 8h | 270.14 | −0.024% | $2K | $540 | 10x | as long as short |
| BloFin BCH-USDT | +0.0053% | 8h | 270.03 | −0.064% | $3.6M | $5.3M | 50x | as long as short |
| Nado BCH-PERP | +0.0081% | 1h | 269.94 | −0.098% | $460K | $374K | 10x | as long as short |
| Lighter BCH | +0.0096% | 1h | 270.31 | +0.040% | $396K | $432K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 270.42 | +0.080% | $6.0M | $4.5M | 10x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 269.90 | −0.111% | $19K | $345K | 20x | as long as short |
| ApeX Omni BCHUSDT | +0.0100% | 1h | 271.20 | +0.369% | $98K | $245K | 50x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 270.04 | −0.061% | $1K | $1.4M | 30x | as long as short |
| Coinbase International BCH-PERP-INTX | +0.0200% | 1h | 270.53 | +0.121% | $358K | $2.1M | 50x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0227% / S −0.0201% | 1h | 270.36 | +0.058% | $15K | — | 100x | as long as short |
Deribit BCH_USDC-PERPETUAL
KuCoin BCHUSDTM
BingX BCH-USDC
gTrade (Gains Network) BCH/USD
Bitget BCHUSDT
dYdX BCH-USD
Kalshi KXBCHPERP
HTX BCH-USDT
Kraken Futures PF_BCHUSD
Pacifica BCH
Injective BCH/USDC PERP
Aster BCHUSDT
Orderly PERP_BCH_USDC
BloFin BCH-USDT
Nado BCH-PERP
Lighter BCH
Hyperliquid BCH
edgeX BCHUSDC
ApeX Omni BCHUSDT
SunX BCH-USDT
Coinbase International BCH-PERP-INTX
GMX BCH/USD [WBTC.b-USDC]