Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h −0.082%

Price spread now: Phemex against GMX+0.117%68s7-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 Phemex

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. Phemex is 0.117% dearer against GMX than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 26 hours. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BCH/USD [WBTC.b-USDC]	264.47	L +0.0202% / S −0.0147%	pay 0.0025% / 1h	13m 51s	$12K	—	100x
Short	Phemex BCHUSDT	264.78	−0.0162	pay 0.0162% / 8h	13m 51s	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$76.47
Price spread: +0.117% → 0.000%: $11.69
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$88.78
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago	1.70 bp	9.0 bp −$9	18.1 bp −$181	doesn't fit	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
SoDEX BCH-USD	−0.0322%	1h	264.72	+0.094%	$2K	$8K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0219%	1h	264.95	+0.181%	$860K	$2.7M	50x	as long as short
Phemex BCHUSDTshort	−0.0162%	8h	264.78	+0.117%	$4.9M	$6.5M	50x
Variational Omni BCH	−0.0133%	8h	264.41	−0.023%	$81K	$196K	—	as long as short
Bybit BCHUSDT	−0.0110%	8h	264.70	+0.087%	$38.9M	$30.9M	75x	as long as short
KuCoin BCHUSDTM	−0.0080%	8h	264.76	+0.109%	$8.5M	$6.3M	75x	as long as short
HTX BCH-USDT	−0.0080%	8h	264.78	+0.117%	$775K	$1.4M	75x	as long as short
Bitget BCHUSDT	−0.0078%	8h	264.71	+0.090%	$19.1M	$27.1M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0066%	8h	264.70	+0.087%	$25.2M	$76.4M	50x	as long as short
MEXC BCH_USDT	−0.0051%	8h	265.18	+0.268%	$70.7M	$8.9M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0051%	8h	264.85	+0.142%	$73.1M	$212.5M	75x	as long as short
Extended BCH-USD	−0.0048%	1h	264.69	+0.082%	$112K	$912K	25x	as long as short
BingX BCH-USDC	−0.0041%	8h	264.77	+0.113%	—	$6.5M	—	as long as short
GRVT BCH_USDT_Perp	−0.0041%	8h	264.72	+0.094%	$386K	$17K	10x	as long as short
Gate BCH_USDT	−0.0026%	8h	264.84	+0.140%	$8.3M	$13.6M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.85	+0.143%	$15K	—	150x	as long as short
Pacifica BCH	−0.0003%	1h	264.69	+0.081%	$159K	$293K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	264.96	+0.186%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.10	+0.238%	$997K	$9.7M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	264.96	+0.186%	$427K	$348K	25x	as long as short
Aster BCHUSDT	+0.0014%	8h	264.70	+0.088%	$136K	$564K	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.166%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	264.82	+0.132%	$2K	—	10x	as long as short
BloFin BCH-USDT	+0.0069%	8h	264.46	−0.004%	$3.5M	$4.5M	50x	as long as short
Nado BCH-PERP	+0.0078%	1h	264.55	+0.030%	$434K	$350K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0088%	1h	265.02	+0.208%	$246K	$1.9M	50x	as long as short
Lighter BCH	+0.0096%	1h	264.85	+0.141%	$353K	$469K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	264.93	+0.174%	$5.7M	$4.6M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.55	+0.030%	$19K	$345K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	264.83	+0.136%	$95K	$242K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	264.48	+0.003%	$2K	$1.6M	30x	as long as short
GMX BCH/USD [WBTC.b-USDC]long	L +0.0202% / S −0.0147%	1h	264.47	long leg	$12K	—	100x