Funding you earn now, next payment 08:00 UTC−0.0194%/8h= −21.2% APRnext payment −$1.94 per $10,000 · paid last 24h −0.024%
Price spread now: Phemex against Gate+0.026%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$450.447% of the position
Funding, last 7 days−0.036%−$4 on $10k
+Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.026%, 7d avg −0.001%
=The price spread pays, funding is against you. Phemex is 0.028% dearer against Gate than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.001%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.036% in total) that is about 5.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.94 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 | Gate BCH_USDT | 264.61 | −0.0077 | get 0.0077% / 8h | 4h 22m | $8.3M | $13.6M | 75x |
| Short | Phemex BCHUSDT | 264.68 | −0.0271 | pay 0.0271% / 8h | 4h 22m | $4.9M | $6.4M | 50x |
Gate BCH_USDT
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Gate. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$40.73
- Price spread: +0.026% → −0.001%
- $2.79
- Slippage, 4 orders
- −$17.74
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$82.68
- Costs to cover
- 0.447%
- Break-even
- never at this rate
Slippage from Gate: live order book, 1 min ago; Phemex: live order book, 2 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 Gate live order book, 1 min ago | 1.70 bp | 13.4 bp −$13 | 16.6 bp −$166 | 31.5 bp −$3,152 | 45.0 bp −$22.5K |
| Sell Phemex live order book, 2 min ago | 1.13 bp | 9.0 bp −$9 | 16.5 bp −$165 | 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 | −0.0510% | 8h | 264.48 | −0.049% | $1K | $1.7M | 30x | as long as short |
| Phemex BCHUSDTshort | −0.0271% | 8h | 264.68 | +0.026% | $4.9M | $6.4M | 50x | |
| HTX BCH-USDT | −0.0256% | 8h | 264.62 | +0.004% | $772K | $1.4M | 75x | as long as short |
| Nado BCH-PERP | −0.0255% | 1h | 264.57 | −0.014% | $431K | $342K | 10x | as long as short |
| SoDEX BCH-USD | −0.0189% | 1h | 264.71 | +0.038% | $2K | $8K | 10x | as long as short |
| Coinbase International BCH-PERP-INTX | −0.0104% | 1h | 264.84 | +0.087% | $218K | $1.8M | 50x | as long as short |
| OKX BCH-USDT-SWAP | −0.0094% | 8h | 264.70 | +0.034% | $25.0M | $74.7M | 50x | as long as short |
| MEXC BCH_USDT | −0.0089% | 8h | 265.02 | +0.155% | $70.2M | $7.8M | 200x | as long as short |
| KuCoin BCHUSDTM | −0.0089% | 8h | 264.75 | +0.053% | $8.5M | $7.0M | 75x | as long as short |
| Extended BCH-USD | −0.0088% | 1h | 264.65 | +0.017% | $115K | $950K | 25x | as long as short |
SunX BCH-USDT
HTX BCH-USDT
Nado BCH-PERP
SoDEX BCH-USD
Coinbase International BCH-PERP-INTX
OKX BCH-USDT-SWAP
MEXC BCH_USDT
KuCoin BCHUSDTM
Extended BCH-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BCHUSDT | −0.0088% | 8h | 264.78 | +0.064% | $72.0M | $214.2M | 75x | as long as short |
| Variational Omni BCH | −0.0078% | 8h | 265.10 | +0.186% | $81K | $201K | — | as long as short |
| Gate BCH_USDTlong | −0.0077% | 8h | 264.61 | long leg | $8.3M | $13.6M | 75x | |
| GRVT BCH_USDT_Perp | −0.0076% | 8h | 265.47 | +0.325% | $387K | $17K | 10x | as long as short |
| Bitget BCHUSDT | −0.0073% | 8h | 264.57 | −0.015% | $19.0M | $28.1M | 75x | as long as short |
| gTrade (Gains Network) BCH/USD | L −0.0004% / S +0.0007% | 1h | 264.70 | +0.034% | $15K | — | 150x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 264.75 | +0.052% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 264.90 | +0.110% | $1.0M | $10.3M | 2.7x | as long as short |
| Deribit BCH_USDC-PERPETUAL | 0.0000% | 1h | 264.84 | +0.088% | $443K | $331K | 25x | as long as short |
| BingX BCH-USDC | +0.0008% | 8h | 264.60 | −0.004% | — | $6.5M | — | as long as short |
| Kraken Futures PF_BCHUSD | +0.0011% | 1h | 264.96 | +0.134% | $849K | $3.0M | 50x | as long as short |
| Bybit BCHUSDT | +0.0012% | 8h | 264.70 | +0.034% | $39.1M | $31.0M | 75x | as long as short |
| BloFin BCH-USDT | +0.0031% | 8h | 264.76 | +0.057% | $3.9M | $4.3M | 50x | as long as short |
| Injective BCH/USDC PERP | +0.0033% | 1h | 270.20 | +2.113% | $721 | $130K | 12x | as long as short |
| Orderly PERP_BCH_USDC | +0.0037% | 8h | 264.69 | +0.030% | $2K | $176 | 10x | as long as short |
| Pacifica BCH | +0.0077% | 1h | 264.61 | +0.002% | $159K | $307K | 10x | as long as short |
| Lighter BCH | +0.0096% | 1h | 264.76 | +0.057% | $358K | $488K | 10x | as long as short |
| Aster BCHUSDT | +0.0099% | 8h | 264.67 | +0.022% | $166K | $516K | 75x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 264.81 | +0.076% | $5.7M | $4.6M | 10x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 265.13 | +0.198% | $19K | $288K | 20x | as long as short |
| ApeX Omni BCHUSDT | +0.0100% | 1h | 265.32 | +0.268% | $97K | $230K | 50x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0350% / S −0.0506% | 1h | 264.61 | +0.001% | $24K | — | 100x | as long as short |
Binance BCHUSDT
Variational Omni BCH
GRVT BCH_USDT_Perp
Bitget BCHUSDT
gTrade (Gains Network) BCH/USD
dYdX BCH-USD
Kalshi KXBCHPERP
Deribit BCH_USDC-PERPETUAL
BingX BCH-USDC
Kraken Futures PF_BCHUSD
Bybit BCHUSDT
BloFin BCH-USDT
Injective BCH/USDC PERP
Orderly PERP_BCH_USDC
Pacifica BCH
Lighter BCH
Aster BCHUSDT
Hyperliquid BCH
edgeX BCHUSDC
ApeX Omni BCHUSDT
GMX BCH/USD [WBTC.b-USDC]