BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−2.4853%/8h= −2721.4% APRnext payment −$31.07 per $10,000 · paid last 24h +0.051%

Price spread now: Kraken Futures against Deribit−2.448%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)+2.506%+$251 · spread now −2.448%, 7d avg +0.029%

Together, before fees+2.569%+$257 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$746 a day on $10k at the current rate, and Kraken Futures is 2.477% cheaper against Deribit than usual: you would sell low and buy high (−$248 if the spread goes back to its 7-day average of +0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.063%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.063% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$31.07 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	Deribit BCH_USDC-PERPETUAL	271.79	2.4750	pay 0.3094% / 1h	45m 19s	$452K	$334K	25x
Short	Kraken Futures PF_BCHUSD	265.14	−0.0103	pay 0.0013% / 1h	45m 19s	$862K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −2.448%Rate

Funding earned: −$5,219.11
Price spread: −2.448% → +0.029%: −$247.69
Slippage, 4 orders: −$30.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$5,514.21
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Deribit: live order book, 63 min ago; Kraken Futures: live order book, 3 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, 63 min ago	3.65 bp	7.2 bp −$7	13.9 bp −$139	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	6.80 bp	17.5 bp −$18	25.8 bp −$258	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	−0.0429%	1h	264.95	−2.517%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0200%	8h	264.29	−2.759%	$773K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0157%	8h	265.04	−2.484%	$5.0M	$6.6M	50x	as long as short
KuCoin BCHUSDTM	−0.0107%	8h	265.06	−2.476%	$8.5M	$6.7M	75x	as long as short
Kraken Futures PF_BCHUSDshort	−0.0103%	1h	265.14	−2.448%	$862K	$3.0M	50x
Bitget BCHUSDT	−0.0092%	8h	264.92	−2.528%	$19.0M	$28.4M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0082%	8h	264.90	−2.535%	$25.2M	$78.2M	50x	as long as short
Variational Omni BCH	−0.0076%	8h	264.10	−2.828%	$81K	$196K	—	as long as short
Binance BCHUSDT	−0.0050%	8h	265.01	−2.495%	$73.0M	$221.2M	75x	as long as short
Extended BCH-USD	−0.0048%	1h	264.89	−2.537%	$112K	$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
MEXC BCH_USDT	−0.0048%	8h	265.12	−2.454%	$70.4M	$8.5M	200x	as long as short
Bybit BCHUSDT	−0.0045%	8h	264.85	−2.553%	$38.9M	$31.9M	75x	as long as short
BingX BCH-USDT	−0.0030%	8h	264.95	−2.517%	—	$32.9M	—	as long as short
GRVT BCH_USDT_Perp	−0.0023%	8h	264.47	−2.693%	$386K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.13	−2.450%	$15K	—	150x	as long as short
Nado BCH-PERP	−0.0002%	1h	264.60	−2.645%	$435K	$356K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	264.40	−2.718%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.02	−2.491%	$985K	$10.5M	2.7x	as long as short
Gate BCH_USDT	+0.0001%	8h	264.94	−2.520%	$8.4M	$13.8M	75x	as long as short
Coinbase International BCH-PERP-INTX	+0.0008%	1h	264.62	−2.638%	$225K	$1.9M	50x	as long as short
SunX BCH-USDT	+0.0017%	8h	264.83	−2.561%	$1K	$1.7M	30x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	−0.585%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	265.00	−2.498%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0052%	8h	264.84	−2.556%	$149K	$590K	75x	as long as short
BloFin BCH-USDT	+0.0070%	8h	264.98	−2.506%	$4.0M	$4.5M	50x	as long as short
Lighter BCH	+0.0096%	1h	264.98	−2.506%	$353K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.01	−2.495%	$5.7M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	264.22	−2.786%	$158K	$312K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.44	−2.704%	$18K	$345K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	264.62	−2.638%	$95K	$237K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	265.16	−2.439%	$12K	—	100x	as long as short
Deribit BCH_USDC-PERPETUALlong	+2.4750%	1h	271.79	long leg	$452K	$334K	25x