Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h −0.022%

Price spread now: Bybit against Hyperliquid−0.140%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.140%, 7d avg −0.065%

Together, before fees+0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.075% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BCH	264.61	0.0100	pay 0.0013% / 1h	52m 08s	$5.7M	$4.6M	10x
Short	Bybit BCHUSDT	264.24	−0.0030	pay 0.0030% / 8h	4h 52m	$39.1M	$30.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. 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 HyperliquidbpFee BybitbpOrdersPrice spread, now −0.140%Rate

Funding earned: −$27.34
Price spread: −0.140% → −0.065%: −$7.52
Slippage, 4 orders: −$15.8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$70.66
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Bybit: 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 Hyperliquid live order book, 10 min ago	0.75 bp	6.9 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.89 bp	10.1 bp −$10	18.7 bp −$187	64.9 bp −$6,493	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	−0.0838%	8h	264.12	−0.185%	$1K	$1.7M	30x	as long as short
ApeX Omni BCHUSDT	−0.0625%	1h	264.10	−0.193%	$96K	$228K	50x	as long as short
SoDEX BCH-USD	−0.0406%	1h	264.08	−0.200%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0344%	8h	264.30	−0.117%	$771K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0336%	8h	264.24	−0.140%	$4.9M	$6.3M	50x	as long as short
Nado BCH-PERP	−0.0199%	1h	264.36	−0.094%	$420K	$338K	10x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0162%	1h	264.30	−0.117%	$442K	$331K	25x	as long as short
GRVT BCH_USDT_Perp	−0.0122%	8h	264.00	−0.231%	$385K	$17K	10x	as long as short
Binance BCHUSDT	−0.0104%	8h	264.23	−0.144%	$72.0M	$213.4M	75x	as long as short
Extended BCH-USD	−0.0104%	1h	263.98	−0.239%	$112K	$952K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0104%	1h	265.07	+0.174%	$221K	$1.8M	50x	as long as short
MEXC BCH_USDT	−0.0103%	8h	264.73	+0.045%	$70.0M	$7.3M	200x	as long as short
Gate BCH_USDT	−0.0095%	8h	264.45	−0.060%	$8.3M	$13.3M	75x	as long as short
Variational Omni BCH	−0.0092%	8h	265.11	+0.188%	$81K	$201K	—	as long as short
OKX BCH-USDT-SWAP	−0.0085%	8h	264.20	−0.155%	$24.9M	$74.0M	50x	as long as short
KuCoin BCHUSDTM	−0.0080%	8h	264.29	−0.121%	$8.5M	$7.1M	75x	as long as short
Bitget BCHUSDT	−0.0073%	8h	264.18	−0.163%	$19.0M	$28.1M	75x	as long as short
Bybit BCHUSDTshort	−0.0030%	8h	264.24	−0.140%	$39.1M	$30.9M	75x
BingX BCH-USDT	−0.0025%	8h	264.58	−0.011%	—	$32.1M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.47	−0.053%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	264.87	+0.099%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	264.76	+0.057%	$1.1M	$10.2M	2.7x	as long as short
Kraken Futures PF_BCHUSD	+0.0011%	1h	264.30	−0.116%	$847K	$3.0M	50x	as long as short
BloFin BCH-USDT	+0.0016%	8h	264.84	+0.087%	$4.0M	$4.2M	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	+0.0035%	8h	264.26	−0.132%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	264.60	−0.002%	$161K	$321K	10x	as long as short
Lighter BCH	+0.0096%	1h	264.16	−0.170%	$361K	$482K	10x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	264.61	long leg	$5.7M	$4.6M	10x
Aster BCHUSDT	+0.0100%	8h	264.63	+0.006%	$167K	$519K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.77	+0.062%	$19K	$290K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0356% / S −0.0525%	1h	264.45	−0.061%	$25K	—	100x	as long as short