Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0434%/8h= −47.6% APRpaid last 24h −0.034%

Price spread now: Phemex against edgeX−0.405%78s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as 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−$430.428% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.405%, 7d avg +0.024%

Together, before fees+0.041%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phemex is 0.429% cheaper against edgeX than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of +0.024%). Swap the legs. The two prices were read 78 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 -0.166% in total (about -8.7% 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	edgeX BCHUSDC	265.64	0.0100	pay 0.0050% / 4h	1h 05m	$19K	$290K	20x
Short	Phemex BCHUSDT	264.56	−0.0334	pay 0.0334% / 8h	5h 05m	$4.9M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now −0.405%Rate

Funding earned: −$91.19
Price spread: −0.405% → +0.024%: −$42.9
Slippage, 4 orders: −$21.77
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$176.87
Costs to cover: 0.428%
Break-even: never at this rate

Slippage from edgeX: live order book, 57 min ago; Phemex: 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 edgeX live order book, 57 min ago	7.35 bp	12.0 bp −$12	33.5 bp −$335	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.13 bp	8.9 bp −$9	17.3 bp −$173	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
SunX BCH-USDT	−0.1061%	8h	264.47	−0.439%	$1K	$1.7M	30x	as long as short
HTX BCH-USDT	−0.0413%	8h	264.49	−0.431%	$768K	$1.4M	75x	as long as short
Phemex BCHUSDTshort	−0.0334%	8h	264.56	−0.405%	$4.9M	$6.4M	50x
SoDEX BCH-USD	−0.0325%	1h	264.42	−0.458%	$2K	$8K	10x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0135%	1h	264.54	−0.411%	$443K	$331K	25x	as long as short
Nado BCH-PERP	−0.0129%	1h	264.35	−0.484%	$420K	$339K	10x	as long as short
Coinbase International BCH-PERP-INTX	−0.0128%	1h	264.60	−0.390%	$222K	$1.8M	50x	as long as short
GRVT BCH_USDT_Perp	−0.0120%	8h	265.65	+0.006%	$387K	$17K	10x	as long as short
Binance BCHUSDT	−0.0106%	8h	264.32	−0.495%	$71.9M	$213.5M	75x	as long as short
MEXC BCH_USDT	−0.0105%	8h	264.80	−0.314%	$69.8M	$7.1M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BCH-USD	−0.0104%	1h	264.22	−0.533%	$112K	$952K	25x	as long as short
Gate BCH_USDT	−0.0104%	8h	264.43	−0.454%	$8.2M	$13.4M	75x	as long as short
Variational Omni BCH	−0.0096%	8h	264.30	−0.503%	$81K	$201K	—	as long as short
OKX BCH-USDT-SWAP	−0.0077%	8h	264.30	−0.503%	$25.0M	$73.8M	50x	as long as short
KuCoin BCHUSDTM	−0.0073%	8h	264.59	−0.394%	$8.5M	$7.1M	75x	as long as short
Bitget BCHUSDT	−0.0072%	8h	264.27	−0.514%	$19.0M	$28.1M	75x	as long as short
Bybit BCHUSDT	−0.0040%	8h	264.32	−0.495%	$38.9M	$30.9M	75x	as long as short
Kraken Futures PF_BCHUSD	−0.0031%	1h	264.64	−0.373%	$848K	$3.0M	50x	as long as short
BingX BCH-USDC	−0.0030%	8h	264.34	−0.488%	—	$6.5M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.73	−0.343%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	264.91	−0.271%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	264.89	−0.281%	$1.1M	$10.2M	2.7x	as long as short
BloFin BCH-USDT	+0.0014%	8h	265.01	−0.235%	$3.9M	$4.2M	50x	as long as short
Pacifica BCH	+0.0021%	1h	264.69	−0.355%	$161K	$321K	10x	as long as short
ApeX Omni BCHUSDT	+0.0023%	1h	265.74	+0.039%	$97K	$227K	50x	as long as short
Orderly PERP_BCH_USDC	+0.0033%	8h	264.42	−0.458%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.718%	$721	$130K	12x	as long as short
Lighter BCH	+0.0096%	1h	264.49	−0.430%	$362K	$482K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	264.73	−0.343%	$5.7M	$4.7M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	264.74	−0.338%	$167K	$519K	75x	as long as short
edgeX BCHUSDClong	+0.0100%	4h	265.64	long leg	$19K	$290K	20x
GMX BCH/USD [WBTC.b-USDC]	L +0.0356% / S −0.0525%	1h	264.66	−0.368%	$25K	—	100x	as long as short