Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.4% APRpaid last 24h −0.115%

Price spread now: Deribit against BloFin−0.151%117s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.387% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.383%−$38 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now −0.151%, 7d avg +0.029%

Together, before fees−0.219%−$22 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 Deribit is 0.179% cheaper against BloFin than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.029%). Swap the legs. The two prices were read 117 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BCH-USDT	263.01	0.0067	pay 0.0067% / 8h	2h 31m	$3.9M	$4.4M	50x
Short	Deribit BCH_USDC-PERPETUAL	262.61	0	get 0.0000% / 1h	31m 16s	$437K	$333K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.151%Rate

Funding earned: −$14.15
Price spread: −0.151% → +0.029%: −$17.91
Slippage, 4 orders: −$19.68
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$70.73
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Deribit: live order book, 17 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 BloFin live order book, 2 min ago	0.38 bp	9.4 bp −$9	18.1 bp −$181	doesn't fit	doesn't fit
Sell Deribit live order book, 17 min ago	3.65 bp	8.1 bp −$8	15.6 bp −$156	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	−0.0255%	1h	262.41	−0.228%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0235%	8h	262.23	−0.297%	$766K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0173%	8h	262.50	−0.194%	$4.9M	$6.5M	50x	as long as short
Bitget BCHUSDT	−0.0117%	8h	262.37	−0.243%	$18.7M	$28.4M	75x	as long as short
KuCoin BCHUSDTM	−0.0104%	8h	262.63	−0.144%	$8.4M	$6.8M	75x	as long as short
SunX BCH-USDT	−0.0097%	8h	262.48	−0.202%	$2K	$1.7M	30x	as long as short
Nado BCH-PERP	−0.0087%	1h	262.40	−0.232%	$428K	$350K	10x	as long as short
OKX BCH-USDT-SWAP	−0.0081%	8h	262.40	−0.232%	$25.0M	$76.5M	50x	as long as short
Variational Omni BCH	−0.0071%	8h	263.91	+0.342%	$81K	$196K	—	as long as short
Extended BCH-USD	−0.0056%	1h	262.38	−0.239%	$111K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0055%	8h	262.49	−0.198%	$72.5M	$219.5M	75x	as long as short
MEXC BCH_USDT	−0.0054%	8h	262.89	−0.046%	$69.4M	$8.2M	200x	as long as short
Coinbase International BCH-PERP-INTX	−0.0040%	1h	263.98	+0.369%	$219K	$1.8M	50x	as long as short
Bybit BCHUSDT	−0.0031%	8h	262.40	−0.232%	$38.6M	$31.5M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0028%	8h	262.99	−0.009%	$383K	$17K	10x	as long as short
BingX BCH-USDC	−0.0018%	8h	262.48	−0.202%	—	$6.5M	—	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	262.64	−0.141%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	262.68	−0.126%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	263.30	+0.110%	$983K	$10.4M	2.7x	as long as short
Deribit BCH_USDC-PERPETUALshort	0.0000%	1h	262.61	−0.151%	$437K	$333K	25x
Gate BCH_USDT	+0.0006%	8h	262.59	−0.160%	$8.3M	$13.7M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.734%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	262.50	−0.194%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0067%	8h	262.73	−0.105%	$153K	$557K	75x	as long as short
BloFin BCH-USDTlong	+0.0067%	8h	263.01	long leg	$3.9M	$4.4M	50x
Lighter BCH	+0.0096%	1h	262.62	−0.148%	$352K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	262.67	−0.129%	$5.6M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	262.65	−0.138%	$158K	$306K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	262.92	−0.033%	$18K	$331K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	263.08	+0.027%	$96K	$236K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0181%	1h	262.60	−0.158%	$839K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	262.59	−0.159%	$12K	—	100x	as long as short