Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0187%/8h= +20.5% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against MEXC−0.109%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 7 days−0.056%−$6 · spread now −0.109%, 7d avg −0.157%

Together, before fees+0.025%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.048% dearer against MEXC than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.157%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.080% in total (about 4.2% 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	MEXC BCH_USDT	266.17	−0.0087	get 0.0087% / 8h	3h 54m	$70.6M	$7.8M	200x
Short	Hyperliquid BCH	265.88	0.0100	get 0.0013% / 1h	54m 33s	$5.7M	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now −0.109%Rate

Funding earned: $39.27
Price spread: −0.109% → −0.157%: $4.82
Slippage, 4 orders: −$15.14
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $15.94
Costs to cover: 0.281%
Break-even: 4.2 days

Slippage from MEXC: live order book, 4 min ago; Hyperliquid: live order book, 7 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 MEXC live order book, 4 min ago	3.20 bp	6.0 bp −$6	12.0 bp −$120	42.5 bp −$4,253	101.6 bp −$50.8K
Sell Hyperliquid live order book, 7 min ago	1.32 bp	8.4 bp −$8	doesn't fit	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
SunX BCH-USDT	−0.0322%	8h	265.65	−0.195%	$2K	$1.7M	30x	as long as short
Phemex BCHUSDT	−0.0280%	8h	265.89	−0.105%	$4.9M	$6.4M	50x	as long as short
Nado BCH-PERP	−0.0257%	1h	265.58	−0.221%	$431K	$343K	10x	as long as short
HTX BCH-USDT	−0.0233%	8h	265.63	−0.203%	$775K	$1.4M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0102%	8h	265.60	−0.214%	$25.5M	$75.9M	50x	as long as short
SoDEX BCH-USD	−0.0097%	1h	265.85	−0.120%	$2K	$8K	10x	as long as short
Extended BCH-USD	−0.0088%	1h	265.78	−0.146%	$112K	$958K	25x	as long as short
MEXC BCH_USDTlong	−0.0087%	8h	266.17	long leg	$70.6M	$7.8M	200x
Binance BCHUSDT	−0.0086%	8h	265.88	−0.108%	$72.2M	$215.1M	75x	as long as short
KuCoin BCHUSDTM	−0.0081%	8h	265.91	−0.098%	$8.5M	$7.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0080%	8h	265.64	−0.199%	$19.0M	$28.2M	75x	as long as short
Variational Omni BCH	−0.0073%	8h	265.10	−0.401%	$81K	$197K	—	as long as short
Coinbase International BCH-PERP-INTX	−0.0064%	1h	265.77	−0.150%	$221K	$1.8M	50x	as long as short
GRVT BCH_USDT_Perp	−0.0063%	8h	265.01	−0.436%	$386K	$17K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0051%	1h	266.14	−0.012%	$855K	$3.0M	50x	as long as short
Gate BCH_USDT	−0.0041%	8h	265.95	−0.083%	$8.4M	$13.5M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.93	−0.089%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.98	−0.072%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.84	−0.124%	$1.0M	$10.3M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	266.03	−0.051%	$445K	$331K	25x	as long as short
Bybit BCHUSDT	+0.0006%	8h	265.67	−0.188%	$39.2M	$31.1M	75x	as long as short
BloFin BCH-USDT	+0.0033%	8h	266.04	−0.049%	$3.9M	$4.3M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.514%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0041%	8h	265.88	−0.109%	$2K	$176	10x	as long as short
BingX BCH-USDT	+0.0050%	8h	265.90	−0.101%	—	$32.9M	—	as long as short
Aster BCHUSDT	+0.0092%	8h	265.85	−0.119%	$153K	$541K	75x	as long as short
Lighter BCH	+0.0096%	1h	265.94	−0.085%	$359K	$488K	10x	as long as short
Hyperliquid BCHshort	+0.0100%	1h	265.88	−0.109%	$5.7M	$4.6M	10x
Pacifica BCH	+0.0100%	1h	265.94	−0.086%	$160K	$303K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.05	−0.421%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.26	−0.342%	$97K	$232K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0350% / S −0.0506%	1h	265.87	−0.113%	$24K	—	100x	as long as short