Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.003%

Price spread now: KuCoin against Hyperliquid−0.042%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.042%, 7d avg −0.011%

Together, before fees+0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and KuCoin is 0.031% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment. 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	Hyperliquid BCH	264.94	0.0100	pay 0.0013% / 1h	22m 14s	$5.7M	$4.6M	10x
Short	KuCoin BCHUSDTM	264.83	−0.0089	pay 0.0089% / 8h	4h 22m	$8.5M	$7.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$39.69
Price spread: −0.042% → −0.011%: −$3.09
Slippage, 4 orders: −$29.36
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$93.14
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; KuCoin: 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, 10 min ago	0.75 bp	7.3 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	1.70 bp	21.7 bp −$22	51.9 bp −$519	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	−0.174%	$1K	$1.7M	30x	as long as short
Phemex BCHUSDT	−0.0271%	8h	264.68	−0.098%	$4.9M	$6.4M	50x	as long as short
HTX BCH-USDT	−0.0256%	8h	264.62	−0.121%	$772K	$1.4M	75x	as long as short
Nado BCH-PERP	−0.0255%	1h	264.57	−0.139%	$431K	$342K	10x	as long as short
SoDEX BCH-USD	−0.0189%	1h	264.71	−0.087%	$2K	$8K	10x	as long as short
Coinbase International BCH-PERP-INTX	−0.0104%	1h	264.84	−0.038%	$218K	$1.8M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0094%	8h	264.50	−0.166%	$24.9M	$74.6M	50x	as long as short
MEXC BCH_USDT	−0.0089%	8h	265.02	+0.030%	$70.2M	$7.8M	200x	as long as short
KuCoin BCHUSDTMshort	−0.0089%	8h	264.83	−0.042%	$8.5M	$7.0M	75x
Extended BCH-USD	−0.0088%	1h	264.65	−0.108%	$115K	$950K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0088%	8h	264.67	−0.103%	$72.0M	$214.2M	75x	as long as short
Variational Omni BCH	−0.0078%	8h	265.10	+0.061%	$81K	$201K	—	as long as short
Gate BCH_USDT	−0.0077%	8h	264.67	−0.102%	$8.3M	$13.6M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0076%	8h	265.47	+0.200%	$387K	$17K	10x	as long as short
Bitget BCHUSDT	−0.0073%	8h	264.70	−0.091%	$19.0M	$28.1M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.70	−0.091%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	264.75	−0.073%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	264.90	−0.015%	$1.0M	$10.3M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	264.84	−0.036%	$443K	$331K	25x	as long as short
BingX BCH-USDT	+0.0007%	8h	264.61	−0.125%	—	$32.1M	—	as long as short
Kraken Futures PF_BCHUSD	+0.0011%	1h	264.96	+0.009%	$849K	$3.0M	50x	as long as short
Bybit BCHUSDT	+0.0012%	8h	264.50	−0.166%	$39.1M	$31.0M	75x	as long as short
BloFin BCH-USDT	+0.0031%	8h	264.76	−0.068%	$3.9M	$4.3M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.985%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0037%	8h	264.69	−0.094%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0077%	1h	264.61	−0.123%	$159K	$307K	10x	as long as short
Lighter BCH	+0.0096%	1h	264.76	−0.068%	$358K	$488K	10x	as long as short
Aster BCHUSDT	+0.0099%	8h	264.56	−0.142%	$166K	$516K	75x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	264.94	long leg	$5.7M	$4.6M	10x
edgeX BCHUSDC	+0.0100%	4h	265.13	+0.073%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.32	+0.143%	$97K	$230K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0350% / S −0.0506%	1h	264.61	−0.123%	$24K	—	100x	as long as short