Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h +0.027%

Price spread now: KuCoin against Coinbase International−0.222%51s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.619% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)+0.337%+$34 · spread now −0.222%, 7d avg −0.012%

Together, before fees+0.441%+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.210% cheaper against Coinbase International than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.105%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BCH-PERP-INTX	265.90	0.0008	pay 0.0001% / 1h	9m 29s	$225K	$1.9M	50x
Short	KuCoin BCHUSDTM	265.31	−0.0091	pay 0.0091% / 8h	1h 09m	$8.5M	$6.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$20.79
Price spread: −0.222% → −0.012%: −$20.99
Slippage, 4 orders: −$39.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$103.73
Costs to cover: 0.619%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago	4.71 bp	14.6 bp −$15	19.7 bp −$197	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.51 bp	15.6 bp −$16	45.5 bp −$455	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
SoDEX BCH-USD	−0.0350%	1h	265.35	−0.207%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0158%	8h	265.38	−0.196%	$4.9M	$6.6M	50x	as long as short
HTX BCH-USDT	−0.0157%	8h	265.41	−0.184%	$776K	$1.4M	75x	as long as short
Kraken Futures PF_BCHUSD	−0.0103%	1h	265.58	−0.122%	$864K	$2.9M	50x	as long as short
KuCoin BCHUSDTMshort	−0.0091%	8h	265.31	−0.222%	$8.5M	$6.6M	75x
Variational Omni BCH	−0.0090%	8h	265.10	−0.301%	$81K	$196K	—	as long as short
Bitget BCHUSDT	−0.0078%	8h	265.31	−0.222%	$18.9M	$28.3M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0071%	8h	265.20	−0.263%	$25.3M	$77.9M	50x	as long as short
Bybit BCHUSDT	−0.0065%	8h	265.20	−0.263%	$38.9M	$31.8M	75x	as long as short
Binance BCHUSDT	−0.0044%	8h	265.33	−0.214%	$73.1M	$220.6M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BCH_USDT	−0.0043%	8h	265.69	−0.079%	$70.9M	$8.8M	200x	as long as short
Extended BCH-USD	−0.0040%	1h	265.01	−0.335%	$111K	$811K	25x	as long as short
BingX BCH-USDC	−0.0035%	8h	265.34	−0.211%	—	$6.5M	—	as long as short
GRVT BCH_USDT_Perp	−0.0025%	8h	265.34	−0.211%	$387K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.47	−0.162%	$15K	—	150x	as long as short
Gate BCH_USDT	−0.0003%	8h	265.38	−0.196%	$8.4M	$13.9M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	265.47	−0.160%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.63	−0.102%	$986K	$10.5M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.54	−0.137%	$442K	$337K	25x	as long as short
Nado BCH-PERP	0.0000%	1h	265.08	−0.308%	$435K	$357K	10x	as long as short
Coinbase International BCH-PERP-INTXlong	+0.0008%	1h	265.90	long leg	$225K	$1.9M	50x
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.617%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0045%	8h	265.31	−0.222%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0053%	8h	265.27	−0.236%	$138K	$590K	75x	as long as short
BloFin BCH-USDT	+0.0076%	8h	265.27	−0.237%	$3.9M	$4.5M	50x	as long as short
SunX BCH-USDT	+0.0094%	8h	265.13	−0.290%	$2K	$1.7M	30x	as long as short
Lighter BCH	+0.0096%	1h	265.24	−0.247%	$353K	$496K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.51	−0.147%	$5.7M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	265.18	−0.271%	$159K	$311K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.18	−0.271%	$18K	$343K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.29	−0.229%	$95K	$239K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	265.45	−0.171%	$12K	—	100x	as long as short