Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0335%/8h= −36.7% APRpaid last 24h −0.071%

Price spread now: Kalshi against GMX+0.076%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kalshi is 0.076% dearer against GMX than usual: you sell high and buy low (spread +0.076% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BCH/USD [WBTC.b-USDC]	270.56	L +0.0335% / S −0.0340%	pay 0.0042% / 1h	40m 06s	$27K	—	100x
Short	Kalshi KXBCHPERP	270.77	0	get 0.0000% / 8h	4h 40m	$1.3M	$11.8M	2.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against GMX. 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 GMXbpFee KalshibpOrdersPrice spread, now +0.076%Rate

Funding earned: −$70.29
Price spread: +0.076% → 0.000%: $7.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$84.67
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kalshi: live order book, 4 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 4 min ago	7.01 bp	15.7 bp −$16	19.8 bp −$198	33.7 bp −$3,370	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUAL	−0.0374%	1h	270.49	−0.028%	$457K	$266K	25x	as long as short
Phemex BCHUSDT	−0.0181%	8h	270.43	−0.049%	$4.9M	$6.5M	50x	as long as short
Variational Omni BCH	−0.0139%	8h	270.42	−0.055%	$83K	$294K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0124%	1h	270.67	+0.038%	$820K	$3.2M	50x	as long as short
SoDEX BCH-USD	−0.0101%	1h	270.40	−0.061%	$2K	$6K	10x	as long as short
Bybit BCHUSDT	−0.0086%	8h	270.30	−0.098%	$39.6M	$33.2M	75x	as long as short
Injective BCH/USDC PERP	−0.0054%	1h	270.20	−0.134%	$721	$130K	12x	as long as short
Coinbase International BCH-PERP-INTX	−0.0032%	1h	271.05	+0.180%	$240K	$2.1M	50x	as long as short
Extended BCH-USD	−0.0024%	1h	270.22	−0.127%	$117K	$653K	25x	as long as short
Binance BCHUSDT	−0.0021%	8h	270.41	−0.057%	$75.4M	$235.2M	75x	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	−0.0021%	8h	270.91	+0.128%	$71.0M	$6.6M	200x	as long as short
dYdX BCH-USD	0.0000%	1h	270.71	+0.054%	$5K	$248	10x	as long as short
Kalshi KXBCHPERPshort	0.0000%	8h	270.77	+0.076%	$1.3M	$11.8M	2.7x
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	270.65	+0.032%	$4K	—	150x	as long as short
Gate BCH_USDT	+0.0007%	8h	270.47	−0.035%	$8.4M	$14.4M	75x	as long as short
Orderly PERP_BCH_USDC	+0.0025%	8h	270.41	−0.057%	$2K	$176	10x	as long as short
GRVT BCH_USDT_Perp	+0.0033%	8h	270.76	+0.072%	$395K	$17K	10x	as long as short
Bitget BCHUSDT	+0.0036%	8h	270.31	−0.094%	$19.6M	$29.6M	75x	as long as short
OKX BCH-USDT-SWAP	+0.0045%	8h	270.30	−0.098%	$26.6M	$79.2M	50x	as long as short
BingX BCH-USDC	+0.0053%	8h	270.45	−0.042%	—	$6.5M	—	as long as short
Lighter BCH	+0.0096%	1h	270.46	−0.037%	$374K	$554K	10x	as long as short
BloFin BCH-USDT	+0.0099%	8h	270.61	+0.017%	$4.0M	$4.2M	50x	as long as short
Nado BCH-PERP	+0.0100%	1h	270.37	−0.074%	$440K	$431K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	270.79	+0.082%	$6.1M	$4.2M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	270.60	+0.013%	$217K	$705K	75x	as long as short
Pacifica BCH	+0.0100%	1h	270.52	−0.015%	$164K	$467K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	270.54	−0.009%	$9.3M	$7.9M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	271.00	+0.160%	$19K	$291K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	271.19	+0.231%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	270.29	−0.101%	$1K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	270.44	−0.046%	$778K	$1.7M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]long	L +0.0335% / S −0.0340%	1h	270.56	long leg	$27K	—	100x