Funding you earn now, next payment 00:00 UTC−0.0287%/8h= −31.4% APRpaid last 24h −0.021%
Price spread now: Phemex against Hyperliquid−0.200%7-day average −0.046% · 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−$51as in the Price arb table
costs, in and out, $10k−$360.356% of the position
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.200%, 7d avg −0.046%
=Together, before fees+0.064%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Phemex is 0.154% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.046%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.052% in total (about -2.7% 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 | 271.24 | 0.0100 | pay 0.0013% / 1h | 49m 01s | $6.1M | $4.2M | 10x |
| Short | Phemex BCHUSDT | 270.70 | −0.0187 | pay 0.0187% / 8h | 49m 01s | $4.9M | $6.5M | 50x |
Hyperliquid BCH
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$60.26
- Price spread: −0.200% → −0.046%
- −$15.4
- Slippage, 4 orders
- −$14.63
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$111.29
- Costs to cover
- 0.356%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Phemex: live order book, 5 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, 3 min ago | 0.55 bp | 7.0 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 0.37 bp | 9.2 bp −$9 | 17.2 bp −$172 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit BCH_USDC-PERPETUAL | −0.0396% | 1h | 270.88 | −0.132% | $458K | $266K | 25x | as long as short |
| Phemex BCHUSDTshort | −0.0187% | 8h | 270.70 | −0.200% | $4.9M | $6.5M | 50x | |
| Variational Omni BCH | −0.0136% | 8h | 270.92 | −0.121% | $83K | $294K | — | as long as short |
| Kraken Futures PF_BCHUSD | −0.0124% | 1h | 271.04 | −0.074% | $821K | $3.2M | 50x | as long as short |
| SoDEX BCH-USD | −0.0084% | 1h | 270.76 | −0.178% | $2K | $6K | 10x | as long as short |
| Bybit BCHUSDT | −0.0077% | 8h | 271.00 | −0.090% | $39.6M | $33.2M | 75x | as long as short |
| Injective BCH/USDC PERP | −0.0054% | 1h | 270.20 | −0.385% | $721 | $130K | 12x | as long as short |
| Coinbase International BCH-PERP-INTX | −0.0032% | 1h | 270.91 | −0.123% | $240K | $2.1M | 50x | as long as short |
| Binance BCHUSDT | −0.0027% | 8h | 270.95 | −0.108% | $75.6M | $235.1M | 75x | as long as short |
| MEXC BCH_USDT | −0.0026% | 8h | 271.36 | +0.043% | $71.1M | $6.6M | 200x | as long as short |
Deribit BCH_USDC-PERPETUAL
Variational Omni BCH
Kraken Futures PF_BCHUSD
SoDEX BCH-USD
Bybit BCHUSDT
Injective BCH/USDC PERP
Coinbase International BCH-PERP-INTX
Binance BCHUSDT
MEXC BCH_USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended BCH-USD | −0.0024% | 1h | 270.68 | −0.208% | $117K | $653K | 25x | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 270.96 | −0.106% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 271.15 | −0.034% | $1.3M | $11.8M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 271.05 | −0.070% | $5K | — | 150x | as long as short |
| Gate BCH_USDT | +0.0012% | 8h | 270.83 | −0.152% | $8.4M | $14.4M | 75x | as long as short |
| Orderly PERP_BCH_USDC | +0.0025% | 8h | 270.78 | −0.171% | $2K | $176 | 10x | as long as short |
| GRVT BCH_USDT_Perp | +0.0030% | 8h | 271.04 | −0.075% | $395K | $17K | 10x | as long as short |
| Bitget BCHUSDT | +0.0036% | 8h | 270.79 | −0.167% | $19.6M | $29.6M | 75x | as long as short |
| ApeX Omni BCHUSDT | +0.0051% | 1h | 271.04 | −0.075% | $73K | $214K | 50x | as long as short |
| OKX BCH-USDT-SWAP | +0.0057% | 8h | 271.00 | −0.090% | $26.6M | $79.4M | 50x | as long as short |
| BingX BCH-USDC | +0.0059% | 8h | 270.82 | −0.156% | — | $6.5M | — | as long as short |
| BloFin BCH-USDT | +0.0093% | 8h | 270.82 | −0.156% | $4.0M | $4.2M | 50x | as long as short |
| Lighter BCH | +0.0096% | 1h | 270.88 | −0.136% | $375K | $554K | 10x | as long as short |
| Nado BCH-PERP | +0.0100% | 1h | 270.88 | −0.135% | $441K | $430K | 10x | as long as short |
| Hyperliquid BCHlong | +0.0100% | 1h | 271.24 | long leg | $6.1M | $4.2M | 10x | |
| Aster BCHUSDT | +0.0100% | 8h | 271.00 | −0.091% | $217K | $705K | 75x | as long as short |
| Pacifica BCH | +0.0100% | 1h | 270.99 | −0.093% | $165K | $467K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0100% | 8h | 270.91 | −0.123% | $9.3M | $7.9M | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 270.96 | −0.104% | $19K | $290K | 20x | as long as short |
| SunX BCH-USDT | +0.0100% | 8h | 270.73 | −0.189% | $1K | $2.0M | 30x | as long as short |
| HTX BCH-USDT | +0.0100% | 8h | 270.71 | −0.197% | $778K | $1.7M | 75x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0335% / S −0.0340% | 1h | 271.07 | −0.064% | $27K | — | 100x | as long as short |
Extended BCH-USD
dYdX BCH-USD
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Gate BCH_USDT
Orderly PERP_BCH_USDC
GRVT BCH_USDT_Perp
Bitget BCHUSDT
ApeX Omni BCHUSDT
OKX BCH-USDT-SWAP
BingX BCH-USDC
BloFin BCH-USDT
Lighter BCH
Nado BCH-PERP
Aster BCHUSDT
Pacifica BCH
KuCoin BCHUSDTM
edgeX BCHUSDC
SunX BCH-USDT
HTX BCH-USDT
GMX BCH/USD [WBTC.b-USDC]