Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h +0.024%

Price spread now: Gate against Kraken Futures−0.069%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.069%, 7d avg −0.040%

Together, before fees+0.271%+$27 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 Gate is 0.030% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.040%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.122%, 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	Kraken Futures PF_BCHUSD	270.20	0.0024	pay 0.0003% / 1h	54m 20s	$876K	$2.5M	50x
Short	Gate BCH_USDT	270.01	−0.0053	pay 0.0053% / 8h	5h 54m	$8.2M	$12.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now −0.069%Rate

Funding earned: −$16.24
Price spread: −0.069% → −0.040%: −$2.98
Slippage, 4 orders: −$34.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$78.67
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Gate: 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 Kraken Futures live order book, 2 min ago	3.71 bp	19.8 bp −$20	30.5 bp −$305	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.96 bp	11.3 bp −$11	16.4 bp −$164	50.3 bp −$5,033	74.1 bp −$37.0K

BCH on 32 exchanges

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	−0.0398%	1h	269.99	−0.077%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0318%	8h	270.09	−0.040%	$4.9M	$6.3M	50x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0142%	1h	270.10	−0.036%	$426K	$356K	25x	as long as short
Variational Omni BCH	−0.0131%	8h	269.88	−0.117%	$152K	$229K	—	as long as short
OKX BCH-USDT-SWAP	−0.0114%	8h	269.80	−0.147%	$25.9M	$75.5M	50x	as long as short
Bybit BCHUSDT	−0.0088%	8h	269.97	−0.084%	$39.5M	$30.9M	75x	as long as short
Binance BCHUSDT	−0.0068%	8h	270.00	−0.073%	$74.2M	$201.3M	75x	as long as short
MEXC BCH_USDT	−0.0067%	8h	270.72	+0.193%	$73.6M	$9.4M	200x	as long as short
Extended BCH-USD	−0.0064%	1h	269.88	−0.118%	$118K	$919K	25x	as long as short
GRVT BCH_USDT_Perp	−0.0064%	8h	269.92	−0.103%	$394K	$17K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BCH_USDTshort	−0.0053%	8h	270.01	−0.069%	$8.2M	$12.2M	75x
KuCoin BCHUSDTM	−0.0005%	8h	270.07	−0.047%	$8.9M	$5.5M	75x	as long as short
BingX BCH-USDC	−0.0005%	8h	270.05	−0.055%	—	$6.5M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0003% / S +0.0007%	1h	270.18	−0.007%	$18K	—	150x	as long as short
Bitget BCHUSDT	−0.0001%	8h	269.97	−0.084%	$19.4M	$26.0M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	270.34	+0.052%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	270.24	+0.016%	$1.0M	$8.7M	2.7x	as long as short
Kraken Futures PF_BCHUSDlong	+0.0024%	1h	270.20	long leg	$876K	$2.5M	50x
HTX BCH-USDT	+0.0026%	8h	270.28	+0.030%	$789K	$1.2M	75x	as long as short
Pacifica BCH	+0.0033%	1h	270.19	−0.002%	$156K	$270K	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.001%	$721	$130K	12x	as long as short
Aster BCHUSDT	+0.0039%	8h	270.01	−0.069%	$147K	$508K	75x	as long as short
Orderly PERP_BCH_USDC	+0.0041%	8h	269.94	−0.095%	$2K	$540	10x	as long as short
BloFin BCH-USDT	+0.0053%	8h	270.03	−0.062%	$3.6M	$5.3M	50x	as long as short
Nado BCH-PERP	+0.0083%	1h	270.15	−0.018%	$461K	$374K	10x	as long as short
Lighter BCH	+0.0096%	1h	270.13	−0.026%	$396K	$432K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	270.31	+0.042%	$6.0M	$4.5M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.90	−0.109%	$19K	$345K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	271.20	+0.371%	$98K	$245K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	270.03	−0.062%	$2K	$1.4M	30x	as long as short
Coinbase International BCH-PERP-INTX	+0.0200%	1h	270.85	+0.241%	$358K	$2.1M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0227% / S −0.0201%	1h	270.36	+0.060%	$15K	—	100x	as long as short