Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.038%

Price spread now: Lighter against Bybit+0.051%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.051%, 7d avg +0.031%

Together, before fees−0.001%+ Points / potential airdropLighter: Season 3 · farm board$0 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 Lighter is 0.020% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% a year). A funding rate is set anew for every payment. 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	Bybit BCHUSDT	269.64	−0.0094	get 0.0094% / 8h	5h 52m	$39.5M	$30.9M	75x
Short	Lighter BCH	269.78	0.0096	get 0.0012% / 1h	52m 17s	$395K	$432K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.051%Rate

Funding earned: $39.86
Price spread: +0.051% → +0.031%: $2.04
Slippage, 4 orders: −$30.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.07
Costs to cover: 0.420%
Break-even: 7.0 days

Slippage from Bybit: live order book, 5 min ago; Lighter: live order book, 54 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, 5 min ago	1.85 bp	9.6 bp −$10	17.8 bp −$178	69.5 bp −$6,945	doesn't fit
Sell Lighter live order book, 54 min ago	6.14 bp	6.1 bp −$6	66.7 bp −$667	166.9 bp −$16.7K	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	−0.0426%	1h	269.73	+0.033%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0293%	8h	269.70	+0.022%	$4.9M	$6.3M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0172%	1h	269.73	+0.033%	$425K	$356K	25x	as long as short
ApeX Omni BCHUSDT	−0.0162%	1h	270.12	+0.178%	$98K	$245K	50x	as long as short
Variational Omni BCH	−0.0131%	8h	269.88	+0.089%	$152K	$229K	—	as long as short
OKX BCH-USDT-SWAP	−0.0115%	8h	269.60	−0.015%	$25.9M	$75.5M	50x	as long as short
Bybit BCHUSDTlong	−0.0094%	8h	269.64	long leg	$39.5M	$30.9M	75x
Gate BCH_USDT	−0.0069%	8h	269.69	+0.019%	$8.1M	$12.2M	75x	as long as short
Binance BCHUSDT	−0.0068%	8h	269.69	+0.019%	$74.2M	$201.3M	75x	as long as short
MEXC BCH_USDT	−0.0066%	8h	270.34	+0.260%	$73.5M	$9.4M	200x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BCH_USDT_Perp	−0.0065%	8h	270.06	+0.157%	$394K	$17K	10x	as long as short
Extended BCH-USD	−0.0064%	1h	269.52	−0.044%	$118K	$917K	25x	as long as short
KuCoin BCHUSDTM	−0.0005%	8h	269.69	+0.019%	$8.8M	$5.5M	75x	as long as short
BingX BCH-USDT	−0.0005%	8h	269.70	+0.022%	—	$13.7M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0003% / S +0.0007%	1h	269.91	+0.099%	$18K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	269.83	+0.069%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	269.96	+0.119%	$1.0M	$8.7M	2.7x	as long as short
Bitget BCHUSDT	+0.0001%	8h	269.66	+0.007%	$19.4M	$26.0M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0024%	1h	269.89	+0.092%	$874K	$2.5M	50x	as long as short
HTX BCH-USDT	+0.0027%	8h	269.66	+0.007%	$787K	$1.2M	75x	as long as short
Pacifica BCH	+0.0033%	1h	269.67	+0.010%	$156K	$270K	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.208%	$721	$130K	12x	as long as short
Aster BCHUSDT	+0.0038%	8h	269.64	0.000%	$146K	$507K	75x	as long as short
Orderly PERP_BCH_USDC	+0.0041%	8h	269.61	−0.011%	$2K	$540	10x	as long as short
BloFin BCH-USDT	+0.0052%	8h	269.79	+0.056%	$3.6M	$5.4M	50x	as long as short
Nado BCH-PERP	+0.0078%	1h	269.61	−0.013%	$460K	$374K	10x	as long as short
Lighter BCHshort	+0.0096%	1h	269.78	+0.051%	$395K	$432K	10x
Hyperliquid BCH	+0.0100%	1h	269.84	+0.074%	$6.0M	$4.5M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.90	+0.098%	$19K	$345K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.57	−0.026%	$2K	$1.4M	30x	as long as short
Coinbase International BCH-PERP-INTX	+0.0200%	1h	270.12	+0.178%	$357K	$2.1M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0227% / S −0.0201%	1h	269.85	+0.076%	$15K	—	100x	as long as short