Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.005%

Price spread now: Phemex against Extended+0.079%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.079%, 7d avg +0.057%

Together, before fees−0.047%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.022% dearer against Extended than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of +0.057%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BCH-USD	261.49	−0.0056	get 0.0007% / 1h	28m 14s	$111K	$1.1M	25x
Short	Phemex BCHUSDT	261.70	−0.0162	pay 0.0162% / 8h	2h 28m	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$22.28
Price spread: +0.079% → +0.057%: $2.19
Slippage, 4 orders: −$22.12
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$59.21
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Phemex: live order book, 6 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 Extended live order book, 5 min ago	1.33 bp	7.6 bp −$8	64.1 bp −$641	doesn't fit	doesn't fit
Sell Phemex live order book, 6 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	−0.0244%	1h	261.64	+0.056%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0231%	8h	261.79	+0.113%	$764K	$1.4M	75x	as long as short
Phemex BCHUSDTshort	−0.0162%	8h	261.70	+0.079%	$4.9M	$6.5M	50x
Bitget BCHUSDT	−0.0118%	8h	261.59	+0.037%	$18.7M	$28.7M	75x	as long as short
KuCoin BCHUSDTM	−0.0107%	8h	261.74	+0.094%	$8.4M	$6.8M	75x	as long as short
SunX BCH-USDT	−0.0092%	8h	261.54	+0.017%	$2K	$1.7M	30x	as long as short
OKX BCH-USDT-SWAP	−0.0077%	8h	261.40	−0.036%	$24.9M	$76.5M	50x	as long as short
Variational Omni BCH	−0.0076%	8h	262.41	+0.350%	$80K	$196K	—	as long as short
Nado BCH-PERP	−0.0071%	1h	261.79	+0.112%	$427K	$352K	10x	as long as short
Extended BCH-USDlong	−0.0056%	1h	261.49	long leg	$111K	$1.1M	25x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0056%	8h	261.55	+0.021%	$72.3M	$219.8M	75x	as long as short
MEXC BCH_USDT	−0.0055%	8h	262.14	+0.247%	$69.1M	$8.2M	200x	as long as short
Coinbase International BCH-PERP-INTX	−0.0040%	1h	261.85	+0.136%	$218K	$1.8M	50x	as long as short
Bybit BCHUSDT	−0.0036%	8h	261.50	+0.002%	$38.5M	$31.7M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0029%	8h	262.44	+0.363%	$383K	$17K	10x	as long as short
BingX BCH-USDT	−0.0023%	8h	261.61	+0.044%	—	$32.9M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	261.73	+0.090%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	262.01	+0.199%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	262.86	+0.522%	$982K	$10.4M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	261.73	+0.091%	$436K	$333K	25x	as long as short
Gate BCH_USDT	+0.0004%	8h	261.90	+0.155%	$8.3M	$13.7M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+3.329%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	261.55	+0.021%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0063%	8h	261.61	+0.043%	$152K	$555K	75x	as long as short
BloFin BCH-USDT	+0.0065%	8h	262.39	+0.343%	$3.9M	$4.4M	50x	as long as short
Lighter BCH	+0.0096%	1h	261.85	+0.137%	$351K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	262.01	+0.197%	$5.6M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	261.99	+0.189%	$158K	$306K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	262.92	+0.547%	$18K	$331K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	263.08	+0.606%	$96K	$236K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0182%	1h	261.78	+0.108%	$837K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	261.69	+0.074%	$12K	—	100x	as long as short