Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0127%/8h= −13.9% APRpaid last 24h −0.005%

Price spread now: Phemex against Coinbase International−0.110%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now −0.110%, 7d avg −0.027%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.083% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BCH-PERP-INTX	262.87	−0.0040	get 0.0005% / 1h	28m 33s	$218K	$1.8M	50x
Short	Phemex BCHUSDT	262.58	−0.0167	pay 0.0167% / 8h	2h 28m	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$26.72
Price spread: −0.110% → −0.027%: −$8.3
Slippage, 4 orders: −$29.64
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$86.65
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Phemex: live order book, 5 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	6.65 bp	13.6 bp −$14	18.0 bp −$180	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.18 bp	11.8 bp −$12	22.0 bp −$220	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	−0.0233%	1h	262.39	−0.183%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0230%	8h	262.91	+0.015%	$768K	$1.4M	75x	as long as short
Phemex BCHUSDTshort	−0.0167%	8h	262.58	−0.110%	$4.9M	$6.5M	50x
Bitget BCHUSDT	−0.0118%	8h	261.76	−0.422%	$18.7M	$28.7M	75x	as long as short
KuCoin BCHUSDTM	−0.0107%	8h	261.84	−0.392%	$8.4M	$6.8M	75x	as long as short
SunX BCH-USDT	−0.0092%	8h	262.40	−0.179%	$2K	$1.7M	30x	as long as short
OKX BCH-USDT-SWAP	−0.0077%	8h	261.80	−0.407%	$24.9M	$76.6M	50x	as long as short
Variational Omni BCH	−0.0076%	8h	262.41	−0.175%	$80K	$196K	—	as long as short
Nado BCH-PERP	−0.0071%	1h	261.79	−0.412%	$427K	$352K	10x	as long as short
Extended BCH-USD	−0.0056%	1h	261.68	−0.452%	$111K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0056%	8h	261.78	−0.416%	$72.3M	$219.7M	75x	as long as short
MEXC BCH_USDT	−0.0055%	8h	262.14	−0.278%	$69.1M	$8.2M	200x	as long as short
Coinbase International BCH-PERP-INTXlong	−0.0040%	1h	262.87	long leg	$218K	$1.8M	50x
Bybit BCHUSDT	−0.0036%	8h	261.80	−0.407%	$38.5M	$31.7M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0029%	8h	262.44	−0.163%	$383K	$17K	10x	as long as short
BingX BCH-USDC	−0.0023%	8h	261.79	−0.411%	—	$6.5M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	262.84	−0.013%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	262.01	−0.326%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	262.86	−0.004%	$982K	$10.4M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	262.73	−0.052%	$437K	$333K	25x	as long as short
Gate BCH_USDT	+0.0004%	8h	261.89	−0.373%	$8.3M	$13.7M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.788%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	262.59	−0.107%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0063%	8h	261.87	−0.380%	$152K	$555K	75x	as long as short
BloFin BCH-USDT	+0.0065%	8h	262.39	−0.183%	$3.9M	$4.4M	50x	as long as short
Lighter BCH	+0.0096%	1h	261.85	−0.387%	$351K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	262.01	−0.327%	$5.6M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	261.99	−0.336%	$158K	$306K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	262.92	+0.020%	$18K	$331K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	263.08	+0.080%	$96K	$236K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0181%	1h	262.52	−0.133%	$839K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	262.80	−0.025%	$12K	—	100x	as long as short