Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0409%/8h= +44.7% APRpaid last 24h +0.083%

Price spread now: BingX against Deribit−0.003%54s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as 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−$490.490% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

Price spread, last 3 days (all we have)+0.063%+$6 · spread now −0.003%, 7d avg −0.015%

Together, before fees+0.293%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.230% in total (about 12.0% 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	Deribit BCH_USDC-PERPETUAL	268.33	−0.0391	get 0.0049% / 1h	11m 25s	$439K	$247K	25x
Short	BingX BCH-USDC	268.32	0.0018	get 0.0018% / 8h	2h 11m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.003%Rate

Funding earned: $85.81
Price spread: −0.003% → −0.015%: $1.2
Slippage, 4 orders: −$32.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: $37.99
Costs to cover: 0.490%
Break-even: 3.9 days

Slippage from Deribit: live order book, 12 min ago; BingX: live order book, 9 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 Deribit live order book, 12 min ago	4.01 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	1.30 bp	12.6 bp −$13	29.1 bp −$291	103.9 bp −$10.4K	396.1 bp −$198.0K

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-PERPETUALlong	−0.0391%	1h	268.33	long leg	$439K	$247K	25x
Injective BCH/USDC PERP	−0.0304%	1h	268.50	+0.064%	$716	$110K	12x	as long as short
Phemex BCHUSDT	−0.0188%	8h	268.21	−0.044%	$4.9M	$6.2M	50x	as long as short
SoDEX BCH-USD	−0.0144%	1h	268.19	−0.052%	$2K	$6K	10x	as long as short
Extended BCH-USD	−0.0096%	1h	268.14	−0.072%	$115K	$653K	25x	as long as short
Binance BCHUSDT	−0.0095%	8h	268.31	−0.007%	$74.0M	$229.3M	75x	as long as short
MEXC BCH_USDT	−0.0095%	8h	268.91	+0.217%	$71.3M	$6.4M	200x	as long as short
Variational Omni BCH	−0.0069%	8h	268.54	+0.078%	$85K	$291K	—	as long as short
Bitget BCHUSDT	−0.0038%	8h	268.24	−0.033%	$19.9M	$29.0M	75x	as long as short
Coinbase International BCH-PERP-INTX	−0.0024%	1h	268.45	+0.045%	$241K	$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	−0.0021%	8h	268.22	−0.041%	$8.4M	$14.4M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0020%	8h	268.20	−0.050%	$391K	$17K	10x	as long as short
Bybit BCHUSDT	−0.0005%	8h	268.11	−0.082%	$39.4M	$32.1M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	268.42	+0.034%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.49	+0.060%	$1.0M	$11.3M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.47	+0.053%	$4K	—	150x	as long as short
BingX BCH-USDCshort	+0.0018%	8h	268.32	−0.003%	—	$6.5M	—
BloFin BCH-USDT	+0.0024%	8h	268.19	−0.052%	$4.0M	$4.1M	50x	as long as short
OKX BCH-USDT-SWAP	+0.0025%	8h	268.20	−0.048%	$26.3M	$76.0M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0027%	8h	268.20	−0.048%	$2K	$176	10x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	268.49	+0.060%	$805K	$3.2M	50x	as long as short
Lighter BCH	+0.0096%	1h	268.26	−0.026%	$376K	$581K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	268.22	−0.039%	$439K	$425K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	268.58	+0.094%	$6.0M	$4.1M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	268.41	+0.029%	$236K	$660K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.21	−0.045%	$169K	$460K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	268.37	+0.015%	$8.9M	$7.9M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	268.49	+0.059%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	268.55	+0.082%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	268.14	−0.070%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	268.21	−0.044%	$772K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0372% / S −0.0574%	1h	268.39	+0.021%	$26K	—	100x	as long as short