Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h +0.010%

Price spread now: Gate against Injective−1.062%84s7-day average −0.234% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 4 days (all we have)+2.313%+$231 · spread now −1.062%, 7d avg −0.234%

Together, before fees+2.160%+$216 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.828% cheaper against Injective than usual: you would sell low and buy high (−$83 if the spread goes back to its 7-day average of −0.234%). Swap the legs. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.152% in total (about -7.9% 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	Injective BCH/USDC PERP	270.20	0.0033	pay 0.0004% / 1h	53m 48s	$721	$130K	12x
Short	Gate BCH_USDT	267.33	−0.0200	pay 0.0200% / 8h	7h 53m	$8.4M	$12.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −1.062%Rate

Funding earned: −$49
Price spread: −1.062% → −0.234%: −$82.77
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$146.79
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	1.31 bp	13.1 bp −$13	18.7 bp −$187	57.1 bp −$5,709	84.0 bp −$42.0K

Injective: 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
Phemex BCHUSDT	−0.0590%	8h	267.16	−1.125%	$5.0M	$6.5M	50x	as long as short
GRVT BCH_USDT_Perp	−0.0470%	8h	266.55	−1.352%	$389K	$17K	10x	as long as short
SoDEX BCH-USD	−0.0390%	1h	267.14	−1.132%	$2K	$8K	10x	as long as short
Gate BCH_USDTshort	−0.0200%	8h	267.33	−1.062%	$8.4M	$12.8M	75x
Kraken Futures PF_BCHUSD	−0.0158%	1h	267.40	−1.037%	$869K	$2.7M	50x	as long as short
Variational Omni BCH	−0.0135%	8h	267.21	−1.108%	$145K	$259K	—	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0083%	1h	267.27	−1.083%	$420K	$359K	25x	as long as short
OKX BCH-USDT-SWAP	−0.0079%	8h	267.20	−1.110%	$25.3M	$78.4M	50x	as long as short
KuCoin BCHUSDTM	−0.0076%	8h	267.22	−1.103%	$8.6M	$6.3M	75x	as long as short
Bitget BCHUSDT	−0.0074%	8h	267.23	−1.099%	$19.3M	$27.1M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0044%	8h	267.24	−1.095%	$74.1M	$215.4M	75x	as long as short
MEXC BCH_USDT	−0.0043%	8h	267.85	−0.870%	$72.1M	$9.1M	200x	as long as short
Bybit BCHUSDT	−0.0040%	8h	267.20	−1.110%	$39.5M	$32.2M	75x	as long as short
Extended BCH-USD	−0.0040%	1h	267.17	−1.120%	$119K	$917K	25x	as long as short
BingX BCH-USDC	−0.0035%	8h	267.36	−1.051%	—	$6.5M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	267.36	−1.051%	$15K	—	150x	as long as short
Pacifica BCH	−0.0002%	1h	267.23	−1.100%	$155K	$299K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	267.50	−1.001%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	267.61	−0.959%	$1.0M	$9.9M	2.7x	as long as short
Aster BCHUSDT	+0.0015%	8h	267.29	−1.077%	$141K	$566K	75x	as long as short
Injective BCH/USDC PERPlong	+0.0033%	1h	270.20	long leg	$721	$130K	12x
Orderly PERP_BCH_USDC	+0.0045%	8h	267.13	−1.136%	$2K	—	10x	as long as short
Nado BCH-PERP	+0.0067%	1h	267.17	−1.120%	$429K	$361K	10x	as long as short
BloFin BCH-USDT	+0.0076%	8h	267.22	−1.103%	$3.6M	$4.9M	50x	as long as short
Coinbase International BCH-PERP-INTX	+0.0088%	1h	267.60	−0.962%	$307K	$2.1M	50x	as long as short
Lighter BCH	+0.0096%	1h	267.25	−1.091%	$374K	$492K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	267.51	−0.996%	$5.8M	$4.7M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.25	−1.092%	$19K	$344K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	266.77	−1.269%	$96K	$242K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.00	−1.184%	$1K	$1.6M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.20	−1.110%	$777K	$1.4M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0203% / S −0.0147%	1h	267.27	−1.083%	$12K	—	100x	as long as short