Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0605%/8h= −66.3% APRpaid last 24h −0.078%

Price spread now: Deribit against Bybit+0.122%7-day average +0.039% · 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−$36as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 3 days (all we have)−0.161%−$16 · spread now +0.122%, 7d avg +0.039%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.083% dearer against Bybit than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of +0.039%): +$8 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.168% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.168% in total (about -8.8% 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	Bybit BCHUSDT	267.80	−0.0002	get 0.0002% / 8h	2h 06m	$39.3M	$32.1M	75x
Short	Deribit BCH_USDC-PERPETUAL	268.13	−0.0607	pay 0.0076% / 1h	6m 45s	$439K	$247K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$127.13
Price spread: +0.122% → +0.039%: $8.32
Slippage, 4 orders: −$26.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$162.82
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Deribit: live order book, 17 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 Bybit live order book, 2 min ago	1.86 bp	11.2 bp −$11	25.7 bp −$257	69.9 bp −$6,991	doesn't fit
Sell Deribit live order book, 17 min ago	4.01 bp	7.5 bp −$8	17.7 bp −$177	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
Deribit BCH_USDC-PERPETUALshort	−0.0607%	1h	268.13	+0.122%	$439K	$247K	25x
Injective BCH/USDC PERP	−0.0304%	1h	268.50	+0.261%	$716	$110K	12x	as long as short
Phemex BCHUSDT	−0.0184%	8h	268.09	+0.108%	$4.9M	$6.3M	50x	as long as short
SoDEX BCH-USD	−0.0151%	1h	267.97	+0.063%	$2K	$6K	10x	as long as short
Extended BCH-USD	−0.0096%	1h	267.90	+0.039%	$115K	$653K	25x	as long as short
Binance BCHUSDT	−0.0093%	8h	267.87	+0.026%	$73.9M	$229.3M	75x	as long as short
MEXC BCH_USDT	−0.0092%	8h	268.65	+0.317%	$71.1M	$6.4M	200x	as long as short
Variational Omni BCH	−0.0070%	8h	268.14	+0.128%	$85K	$291K	—	as long as short
Bitget BCHUSDT	−0.0035%	8h	267.97	+0.063%	$19.9M	$29.0M	75x	as long as short
Coinbase International BCH-PERP-INTX	−0.0024%	1h	268.88	+0.403%	$242K	$2.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BCH_USDT	−0.0023%	8h	268.05	+0.093%	$8.4M	$14.5M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0016%	8h	268.59	+0.294%	$391K	$17K	10x	as long as short
Bybit BCHUSDTlong	−0.0002%	8h	267.80	long leg	$39.3M	$32.1M	75x
dYdX BCH-USD	0.0000%	1h	268.24	+0.163%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.46	+0.246%	$1.1M	$11.3M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.37	+0.211%	$4K	—	150x	as long as short
BingX BCH-USDC	+0.0024%	8h	267.97	+0.063%	—	$6.5M	—	as long as short
Orderly PERP_BCH_USDC	+0.0027%	8h	268.07	+0.101%	$2K	$176	10x	as long as short
BloFin BCH-USDT	+0.0027%	8h	268.19	+0.146%	$4.0M	$4.1M	50x	as long as short
OKX BCH-USDT-SWAP	+0.0029%	8h	267.80	0.000%	$26.2M	$76.0M	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	268.31	+0.189%	$804K	$3.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	268.04	+0.090%	$376K	$581K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	268.15	+0.133%	$439K	$425K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	268.33	+0.197%	$6.0M	$4.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	268.23	+0.161%	$236K	$666K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.31	+0.190%	$169K	$455K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	268.11	+0.116%	$8.9M	$7.9M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	268.56	+0.285%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	268.79	+0.370%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	268.19	+0.146%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.97	+0.063%	$772K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0373% / S −0.0574%	1h	268.34	+0.201%	$26K	—	100x	as long as short