Funding you earn now, next payment 22:00 UTC−0.0796%/8h= −87.1% APRnext payment −$0.99 per $10,000 · paid last 24h −0.066%
Price spread now: Deribit against Coinbase International−0.100%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$480.475% of the position
Funding, last 7 days−0.158%−$16 on $10k
+Price spread, last 3 days (all we have)+0.207%+$21 · spread now −0.100%, 7d avg −0.010%
=Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Deribit is 0.090% cheaper against Coinbase International than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.010%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.99 per $10,000. 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 | Coinbase International BCH-PERP-INTX | 270.97 | 0.0016 | pay 0.0002% / 1h | 18m 34s | $243K | $2.1M | 50x |
| Short | Deribit BCH_USDC-PERPETUAL | 270.70 | −0.0780 | pay 0.0097% / 1h | 18m 34s | $459K | $265K | 25x |
Coinbase International BCH-PERP-INTX
Deribit BCH_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Coinbase International. 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
- −$167.08
- Price spread: −0.100% → −0.010%
- −$8.98
- Slippage, 4 orders
- −$30.51
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$223.56
- Costs to cover
- 0.475%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Deribit: live order book, 65 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 Coinbase International live order book, 5 min ago | 2.03 bp | 11.9 bp −$12 | 20.7 bp −$207 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 65 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 | −0.0780% | 1h | 270.70 | −0.100% | $459K | $265K | 25x | |
| Phemex BCHUSDT | −0.0193% | 8h | 270.73 | −0.089% | $5.0M | $6.5M | 50x | as long as short |
| Injective BCH/USDC PERP | −0.0154% | 1h | 270.20 | −0.284% | $721 | $130K | 12x | as long as short |
| SoDEX BCH-USD | −0.0129% | 1h | 270.55 | −0.155% | $2K | $6K | 10x | as long as short |
| Variational Omni BCH | −0.0110% | 8h | 270.72 | −0.094% | $83K | $294K | — | as long as short |
| Bybit BCHUSDT | −0.0052% | 8h | 270.30 | −0.247% | $39.5M | $33.0M | 75x | as long as short |
| Extended BCH-USD | −0.0048% | 1h | 270.15 | −0.303% | $117K | $653K | 25x | as long as short |
| Binance BCHUSDT | −0.0046% | 8h | 270.49 | −0.178% | $75.2M | $234.0M | 75x | as long as short |
| MEXC BCH_USDT | −0.0046% | 8h | 271.03 | +0.022% | $71.0M | $6.6M | 200x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 270.82 | −0.056% | $5K | $248 | 10x | as long as short |
Phemex BCHUSDT
Injective BCH/USDC PERP
SoDEX BCH-USD
Variational Omni BCH
Bybit BCHUSDT
Extended BCH-USD
Binance BCHUSDT
MEXC BCH_USDT
dYdX BCH-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXBCHPERP | 0.0000% | 8h | 270.89 | −0.030% | $1.3M | $11.8M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 270.95 | −0.008% | $4K | — | 150x | as long as short |
| Gate BCH_USDT | +0.0005% | 8h | 270.49 | −0.177% | $8.4M | $14.9M | 75x | as long as short |
| Bitget BCHUSDT | +0.0013% | 8h | 270.47 | −0.185% | $19.5M | $29.4M | 75x | as long as short |
| Coinbase International BCH-PERP-INTXlong | +0.0016% | 1h | 270.97 | long leg | $243K | $2.1M | 50x | |
| GRVT BCH_USDT_Perp | +0.0020% | 8h | 270.89 | −0.030% | $395K | $17K | 10x | as long as short |
| Orderly PERP_BCH_USDC | +0.0025% | 8h | 270.60 | −0.137% | $2K | $176 | 10x | as long as short |
| OKX BCH-USDT-SWAP | +0.0071% | 8h | 270.20 | −0.284% | $26.5M | $78.3M | 50x | as long as short |
| BloFin BCH-USDT | +0.0074% | 8h | 270.54 | −0.159% | $4.0M | $4.2M | 50x | as long as short |
| BingX BCH-USDC | +0.0076% | 8h | 270.41 | −0.207% | — | $6.5M | — | as long as short |
| Lighter BCH | +0.0096% | 1h | 270.66 | −0.114% | $379K | $587K | 10x | as long as short |
| Nado BCH-PERP | +0.0098% | 1h | 270.59 | −0.139% | $444K | $428K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 270.87 | −0.037% | $6.1M | $4.2M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 270.64 | −0.123% | $218K | $703K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 270.51 | −0.168% | $164K | $467K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 270.65 | −0.118% | $9.3M | $8.0M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 270.71 | −0.096% | $19K | $290K | 20x | as long as short |
| ApeX Omni BCHUSDT | +0.0100% | 1h | 271.00 | +0.011% | $73K | $213K | 50x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 270.48 | −0.181% | $2K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 270.50 | −0.173% | $778K | $1.7M | 75x | as long as short |
| Kraken Futures PF_BCHUSD | +0.0112% | 1h | 270.85 | −0.043% | $820K | $3.2M | 50x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0342% / S −0.0467% | 1h | 271.02 | +0.018% | $26K | — | 100x | as long as short |
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Gate BCH_USDT
Bitget BCHUSDT
GRVT BCH_USDT_Perp
Orderly PERP_BCH_USDC
OKX BCH-USDT-SWAP
BloFin BCH-USDT
BingX BCH-USDC
Lighter BCH
Nado BCH-PERP
Hyperliquid BCH
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
ApeX Omni BCHUSDT
SunX BCH-USDT
HTX BCH-USDT
Kraken Futures PF_BCHUSD
GMX BCH/USD [WBTC.b-USDC]