Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Hyperliquid−0.145%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Hyperliquid Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 7 days+0.261%+$26 · spread now −0.145%, 7d avg −0.020%

Together, before fees+0.127%+ Points / potential airdropHyperliquid: Season 2 · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.125% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BCH	268.15	0.0100	pay 0.0013% / 1h	37m 33s	$5.8M	$4.7M	10x
Short	Kalshi KXBCHPERP	267.76	0	get 0.0000% / 8h	3h 37m	$1.0M	$9.1M	2.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.145%Rate

Funding earned: −$21
Price spread: −0.145% → −0.020%: −$12.53
Slippage, 4 orders: −$24.07
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$76.6
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Kalshi: live order book, 1 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, 4 min ago	0.75 bp	7.8 bp −$8	15.7 bp −$157	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	8.77 bp	13.8 bp −$14	20.5 bp −$205	669.3 bp −$66.9K	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	−0.0358%	1h	267.61	−0.201%	$2K	$8K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0213%	8h	267.55	−0.224%	$390K	$17K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0158%	1h	267.84	−0.114%	$870K	$2.7M	50x	as long as short
Variational Omni BCH	−0.0131%	8h	267.41	−0.278%	$148K	$262K	—	as long as short
Phemex BCHUSDT	−0.0127%	8h	267.67	−0.179%	$5.0M	$6.5M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0088%	8h	267.70	−0.168%	$25.4M	$78.6M	50x	as long as short
KuCoin BCHUSDTM	−0.0073%	8h	267.87	−0.104%	$8.6M	$6.2M	75x	as long as short
Bitget BCHUSDT	−0.0069%	8h	267.85	−0.112%	$19.3M	$27.2M	75x	as long as short
Extended BCH-USD	−0.0056%	1h	267.68	−0.175%	$119K	$912K	25x	as long as short
Binance BCHUSDT	−0.0053%	8h	267.98	−0.065%	$74.1M	$216.0M	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	−0.0052%	8h	268.42	+0.101%	$72.0M	$9.2M	200x	as long as short
Gate BCH_USDT	−0.0032%	8h	267.90	−0.093%	$8.4M	$12.9M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	267.80	−0.130%	$15K	—	150x	as long as short
Pacifica BCH	−0.0002%	1h	267.96	−0.069%	$156K	$296K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	268.06	−0.032%	$5K	$240	10x	as long as short
Kalshi KXBCHPERPshort	0.0000%	8h	267.76	−0.145%	$1.0M	$9.1M	2.7x
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	267.80	−0.130%	$421K	$359K	25x	as long as short
Aster BCHUSDT	+0.0010%	8h	267.85	−0.113%	$144K	$574K	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.764%	$721	$130K	12x	as long as short
BingX BCH-USDC	+0.0035%	8h	267.86	−0.108%	—	$6.5M	—	as long as short
Orderly PERP_BCH_USDC	+0.0045%	8h	267.62	−0.198%	$2K	—	10x	as long as short
BloFin BCH-USDT	+0.0068%	8h	267.55	−0.224%	$3.6M	$5.0M	50x	as long as short
Coinbase International BCH-PERP-INTX	+0.0088%	1h	268.36	+0.078%	$304K	$2.1M	50x	as long as short
Bybit BCHUSDT	+0.0095%	8h	267.84	−0.116%	$39.6M	$32.2M	75x	as long as short
Lighter BCH	+0.0096%	1h	267.97	−0.066%	$377K	$495K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	267.56	−0.222%	$430K	$352K	10x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	268.15	long leg	$5.8M	$4.7M	10x
edgeX BCHUSDC	+0.0100%	4h	267.51	−0.237%	$19K	$345K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.56	−0.220%	$96K	$241K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.20	−0.354%	$2K	$1.6M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.36	−0.295%	$779K	$1.4M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0203% / S −0.0147%	1h	267.81	−0.127%	$13K	—	100x	as long as short