Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0398%/8h= +43.6% APRpaid last 24h −0.012%

Price spread now: Kraken Futures against Phemex+0.123%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on Phemex Short on Kraken Futures

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)−0.026%−$3 · spread now +0.123%, 7d avg +0.046%

Together, before fees−0.104%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.077% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.046%. Mind the row above: over the last 7 days funding on this pair cost −0.078%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.078% in total (about -4.1% 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	Phemex BCHUSDT	267.39	−0.0447	get 0.0447% / 8h	7h 52m	$4.9M	$6.5M	50x
Short	Kraken Futures PF_BCHUSD	267.72	−0.0049	pay 0.0006% / 1h	52m 04s	$855K	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phemex. 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 PhemexbpFee Kraken FuturesbpOrdersPrice spread, now +0.123%Rate

Funding earned: $83.59
Price spread: +0.123% → +0.046%: $7.68
Slippage, 4 orders: −$29.34
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $39.94
Costs to cover: 0.513%
Break-even: 3.7 days

Slippage from Phemex: live order book, 2 min ago; Kraken Futures: 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 Phemex live order book, 2 min ago	2.05 bp	11.3 bp −$11	18.0 bp −$180	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	4.29 bp	16.6 bp −$17	27.2 bp −$272	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
SoDEX BCH-USD	−0.0557%	1h	267.45	+0.022%	$2K	$6K	10x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0523%	1h	267.66	+0.099%	$452K	$266K	25x	as long as short
Phemex BCHUSDTlong	−0.0447%	8h	267.39	long leg	$4.9M	$6.5M	50x
HTX BCH-USDT	−0.0402%	8h	267.74	+0.131%	$771K	$1.6M	75x	as long as short
Gate BCH_USDT	−0.0264%	8h	267.58	+0.071%	$8.4M	$14.0M	75x	as long as short
Variational Omni BCH	−0.0132%	8h	268.01	+0.233%	$82K	$292K	—	as long as short
Nado BCH-PERP	−0.0075%	1h	267.75	+0.134%	$439K	$436K	10x	as long as short
Bybit BCHUSDT	−0.0060%	8h	267.35	−0.015%	$39.5M	$33.1M	75x	as long as short
Coinbase International BCH-PERP-INTX	−0.0056%	1h	267.78	+0.146%	$223K	$2.1M	50x	as long as short
Kraken Futures PF_BCHUSDshort	−0.0049%	1h	267.72	+0.123%	$855K	$3.2M	50x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0041%	8h	267.42	+0.011%	$72.8M	$236.4M	75x	as long as short
Extended BCH-USD	−0.0040%	1h	267.41	+0.006%	$120K	$665K	25x	as long as short
MEXC BCH_USDT	−0.0039%	8h	268.01	+0.232%	$70.2M	$6.6M	200x	as long as short
dYdX BCH-USD	0.0000%	1h	268.15	+0.284%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.00	+0.228%	$1.1M	$11.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.11	+0.269%	$4K	—	150x	as long as short
Bitget BCHUSDT	+0.0012%	8h	267.34	−0.019%	$19.2M	$29.7M	75x	as long as short
GRVT BCH_USDT_Perp	+0.0013%	8h	267.95	+0.208%	$390K	$17K	10x	as long as short
OKX BCH-USDT-SWAP	+0.0025%	8h	267.40	+0.004%	$25.9M	$78.2M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0030%	8h	267.60	+0.079%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.051%	$721	$130K	12x	as long as short
BloFin BCH-USDT	+0.0081%	8h	267.94	+0.206%	$3.9M	$4.3M	50x	as long as short
Lighter BCH	+0.0096%	1h	267.52	+0.048%	$370K	$527K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	267.80	+0.153%	$6.0M	$4.4M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	267.55	+0.061%	$175K	$715K	75x	as long as short
Pacifica BCH	+0.0100%	1h	267.83	+0.166%	$163K	$430K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	267.56	+0.064%	$9.0M	$7.7M	75x	as long as short
BingX BCH-USDT	+0.0100%	8h	267.48	+0.034%	—	$31.0M	—	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.86	+0.177%	$19K	$290K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.95	+0.209%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.66	+0.101%	$1K	$2.0M	30x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0224%	1h	268.02	+0.237%	$31K	—	100x	as long as short