Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h +0.011%

Price spread now: Coinbase International against Kalshi+0.004%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$480.485% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.330%−$33 · spread now +0.004%, 7d avg +0.043%

Together, before fees−0.252%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.039% cheaper against Kalshi than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.078%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBCHPERP	268.77	0	get 0.0000% / 8h	7h 32m	$1.1M	$11.5M	2.7x
Short	Coinbase International BCH-PERP-INTX	268.78	−0.0072	pay 0.0009% / 1h	32m 17s	$232K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kalshi. 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 KalshibpFee Coinbase InternationalbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$15.12
Price spread: +0.004% → +0.043%: −$3.9
Slippage, 4 orders: −$28.46
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$67.48
Costs to cover: 0.485%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; Coinbase International: live order book, 2 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 Kalshi live order book, 2 min ago	3.54 bp	8.5 bp −$9	19.5 bp −$195	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	3.36 bp	13.1 bp −$13	18.4 bp −$184	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
Phemex BCHUSDT	−0.0310%	8h	268.65	−0.045%	$4.9M	$5.9M	50x	as long as short
Injective BCH/USDC PERP	−0.0300%	1h	267.99	−0.290%	$715	$47K	12x	as long as short
SoDEX BCH-USD	−0.0273%	1h	268.55	−0.082%	$2K	$6K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0192%	1h	268.84	+0.028%	$819K	$3.2M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0148%	1h	268.68	−0.032%	$439K	$254K	25x	as long as short
Binance BCHUSDT	−0.0144%	8h	268.48	−0.108%	$74.2M	$227.9M	75x	as long as short
Extended BCH-USD	−0.0144%	1h	268.46	−0.117%	$105K	$642K	25x	as long as short
MEXC BCH_USDT	−0.0144%	8h	268.90	+0.048%	$71.4M	$6.2M	200x	as long as short
GRVT BCH_USDT_Perp	−0.0139%	8h	267.75	−0.379%	$390K	$17K	10x	as long as short
Bybit BCHUSDT	−0.0109%	8h	268.33	−0.164%	$39.7M	$32.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BCH_USDT	−0.0092%	8h	268.55	−0.082%	$8.4M	$14.3M	75x	as long as short
Nado BCH-PERP	−0.0072%	1h	268.26	−0.190%	$442K	$396K	10x	as long as short
Coinbase International BCH-PERP-INTXshort	−0.0072%	1h	268.78	+0.004%	$232K	$2.0M	50x
Variational Omni BCH	−0.0061%	8h	267.65	−0.415%	$76K	$277K	—	as long as short
Bitget BCHUSDT	−0.0057%	8h	268.44	−0.123%	$19.9M	$28.3M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0036%	8h	268.40	−0.138%	$25.1M	$74.2M	50x	as long as short
BingX BCH-USDT	−0.0026%	8h	268.45	−0.119%	—	$32.2M	—	as long as short
BloFin BCH-USDT	−0.0025%	8h	268.44	−0.123%	$4.0M	$4.1M	50x	as long as short
dYdX BCH-USD	0.0000%	1h	268.72	−0.020%	$5K	$248	10x	as long as short
Kalshi KXBCHPERPlong	0.0000%	8h	268.77	long leg	$1.1M	$11.5M	2.7x
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.72	−0.019%	$4K	—	150x	as long as short
KuCoin BCHUSDTM	+0.0031%	8h	268.62	−0.056%	$8.9M	$8.1M	75x	as long as short
Orderly PERP_BCH_USDC	+0.0033%	8h	268.54	−0.086%	$2K	$176	10x	as long as short
HTX BCH-USDT	+0.0068%	8h	268.49	−0.104%	$782K	$1.6M	75x	as long as short
SunX BCH-USDT	+0.0095%	8h	268.19	−0.216%	$1K	$2.0M	30x	as long as short
Lighter BCH	+0.0096%	1h	268.62	−0.056%	$378K	$578K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	268.79	+0.007%	$5.2M	$3.8M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	268.59	−0.069%	$238K	$670K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.62	−0.056%	$169K	$453K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.69	−0.403%	$21K	$286K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	268.08	−0.257%	$73K	$216K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0371% / S −0.0574%	1h	268.61	−0.059%	$26K	—	100x	as long as short