Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0035%/8h= −3.9% APRpaid last 24h −0.027%

Price spread now: Phemex against Injective−1.436%7-day average −0.251% · you buy dearer than you sell

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

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 4 days (all we have)+1.357%+$136 · spread now −1.436%, 7d avg −0.251%

Together, before fees+1.144%+$114 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 1.185% cheaper against Injective than usual: you would sell low and buy high (−$118 if the spread goes back to its 7-day average of −0.251%). Swap the legs.

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	32m 56s	$721	$130K	12x
Short	Phemex BCHUSDT	266.32	−0.0002	pay 0.0002% / 8h	7h 32m	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhemexbpOrdersPrice spread, now −1.436%Rate

Funding earned: −$7.39
Price spread: −1.436% → −0.251%: −$118.45
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$137.86
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 6 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 Phemex live order book, 6 min ago	2.24 bp	11.0 bp −$11	20.3 bp −$203	doesn't fit	doesn't fit

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
SoDEX BCH-USD	−0.0378%	1h	266.19	−1.484%	$2K	$8K	10x	as long as short
GRVT BCH_USDT_Perp	−0.0180%	8h	266.85	−1.238%	$389K	$17K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0159%	1h	266.41	−1.404%	$869K	$2.7M	50x	as long as short
Variational Omni BCH	−0.0129%	8h	266.91	−1.219%	$149K	$262K	—	as long as short
OKX BCH-USDT-SWAP	−0.0097%	8h	266.20	−1.480%	$25.2M	$78.2M	50x	as long as short
KuCoin BCHUSDTM	−0.0074%	8h	266.43	−1.395%	$8.5M	$6.2M	75x	as long as short
Bitget BCHUSDT	−0.0071%	8h	266.27	−1.454%	$19.2M	$27.2M	75x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0065%	1h	266.31	−1.438%	$418K	$359K	25x	as long as short
Extended BCH-USD	−0.0056%	1h	266.19	−1.486%	$119K	$915K	25x	as long as short
Binance BCHUSDT	−0.0054%	8h	266.38	−1.413%	$73.6M	$216.2M	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	−0.0053%	8h	266.93	−1.210%	$71.7M	$9.3M	200x	as long as short
Gate BCH_USDT	−0.0044%	8h	266.29	−1.447%	$8.3M	$12.9M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	266.43	−1.394%	$15K	—	150x	as long as short
Phemex BCHUSDTshort	−0.0002%	8h	266.32	−1.436%	$4.9M	$6.5M	50x
Pacifica BCH	−0.0002%	1h	266.26	−1.458%	$155K	$296K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	266.50	−1.369%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.64	−1.318%	$1.0M	$9.1M	2.7x	as long as short
Aster BCHUSDT	+0.0007%	8h	266.68	−1.302%	$143K	$574K	75x	as long as short
Bybit BCHUSDT	+0.0031%	8h	266.25	−1.462%	$39.4M	$32.2M	75x	as long as short
Injective BCH/USDC PERPlong	+0.0033%	1h	270.20	long leg	$721	$130K	12x
Orderly PERP_BCH_USDC	+0.0043%	8h	266.15	−1.499%	$2K	—	10x	as long as short
BloFin BCH-USDT	+0.0066%	8h	266.27	−1.454%	$3.5M	$5.1M	50x	as long as short
Coinbase International BCH-PERP-INTX	+0.0088%	1h	268.36	−0.681%	$304K	$2.1M	50x	as long as short
Lighter BCH	+0.0096%	1h	266.43	−1.394%	$375K	$495K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	266.22	−1.474%	$427K	$352K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	266.54	−1.355%	$5.8M	$4.7M	10x	as long as short
BingX BCH-USDC	+0.0100%	8h	266.27	−1.454%	—	$6.5M	—	as long as short
edgeX BCHUSDC	+0.0100%	4h	266.89	−1.226%	$19K	$345K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.84	−0.873%	$97K	$241K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	266.01	−1.551%	$1K	$1.6M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	265.98	−1.562%	$775K	$1.4M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	266.36	−1.422%	$12K	—	100x	as long as short