Funding you earn now, next payment 08:00 UTC−0.0358%/8h= −39.2% APRnext payment −$3.58 per $10,000 · paid last 24h −0.011%
Price spread now: Phemex against Bybit+0.691%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs+$21as in the Price arb table
costs, in and out, $10k−$450.453% of the position
Funding, last 7 days−0.034%−$3 on $10k
+Price spread, last 3 days (all we have)−0.709%−$71 · spread now +0.691%, 7d avg +0.026%
=The price spread pays, funding is against you. Phemex is 0.665% dearer against Bybit than usual: you sell high and buy low (spread +0.691% now, against its 7-day average of +0.026%): +$67 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 7 days (−0.034% in total) that is about 5 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.034% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.58 per $10,000. 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 | Bybit BCHUSDT | 263.30 | −0.0070 | get 0.0070% / 8h | 6h 42m | $38.8M | $33.4M | 75x |
| Short | Phemex BCHUSDT | 265.12 | −0.0427 | pay 0.0427% / 8h | 6h 42m | $4.9M | $6.5M | 50x |
Bybit BCHUSDT
Phemex BCHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$75.09
- Price spread: +0.691% → +0.026%
- $66.52
- Slippage, 4 orders
- −$22.27
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$53.84
- Costs to cover
- 0.453%
- Break-even
- from the start
Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, 6 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 Bybit live order book, 1 min ago | 1.88 bp | 9.1 bp −$9 | 17.8 bp −$178 | 83.8 bp −$8,382 | doesn't fit |
| Sell Phemex live order book, 6 min ago | 3.95 bp | 12.7 bp −$13 | 19.2 bp −$192 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit BCH_USDC-PERPETUAL | −0.0522% | 1h | 265.24 | +0.737% | $448K | $266K | 25x | as long as short |
| SoDEX BCH-USD | −0.0488% | 1h | 265.19 | +0.718% | $2K | $6K | 10x | as long as short |
| Phemex BCHUSDTshort | −0.0427% | 8h | 265.12 | +0.691% | $4.9M | $6.5M | 50x | |
| Kraken Futures PF_BCHUSD | −0.0300% | 1h | 265.44 | +0.814% | $849K | $3.1M | 50x | as long as short |
| GRVT BCH_USDT_Perp | −0.0210% | 8h | 265.18 | +0.715% | $387K | $17K | 10x | as long as short |
| ApeX Omni BCHUSDT | −0.0156% | 1h | 265.88 | +0.980% | $97K | $227K | 50x | as long as short |
| Gate BCH_USDT | −0.0154% | 8h | 263.32 | +0.008% | $8.4M | $13.3M | 75x | as long as short |
| Variational Omni BCH | −0.0125% | 8h | 265.41 | +0.801% | $81K | $285K | — | as long as short |
| Coinbase International BCH-PERP-INTX | −0.0112% | 1h | 266.10 | +1.063% | $236K | $2.1M | 50x | as long as short |
| Binance BCHUSDT | −0.0090% | 8h | 263.23 | −0.027% | $71.2M | $234.1M | 75x | as long as short |
Deribit BCH_USDC-PERPETUAL
SoDEX BCH-USD
Kraken Futures PF_BCHUSD
GRVT BCH_USDT_Perp
ApeX Omni BCHUSDT
Gate BCH_USDT
Variational Omni BCH
Coinbase International BCH-PERP-INTX
Binance BCHUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BCH_USDT | −0.0090% | 8h | 263.59 | +0.110% | $69.5M | $6.9M | 200x | as long as short |
| Extended BCH-USD | −0.0088% | 1h | 263.19 | −0.041% | $111K | $965K | 25x | as long as short |
| Bybit BCHUSDTlong | −0.0070% | 8h | 263.30 | long leg | $38.8M | $33.4M | 75x | |
| HTX BCH-USDT | −0.0054% | 8h | 265.45 | +0.817% | $776K | $1.6M | 75x | as long as short |
| SunX BCH-USDT | −0.0046% | 8h | 265.28 | +0.752% | $2K | $1.9M | 30x | as long as short |
| Nado BCH-PERP | −0.0037% | 1h | 265.36 | +0.783% | $434K | $425K | 10x | as long as short |
| Bitget BCHUSDT | −0.0034% | 8h | 263.28 | −0.008% | $18.9M | $29.5M | 75x | as long as short |
| OKX BCH-USDT-SWAP | −0.0030% | 8h | 263.20 | −0.038% | $25.1M | $78.1M | 50x | as long as short |
| BingX BCH-USDC | −0.0023% | 8h | 263.26 | −0.015% | — | $6.5M | — | as long as short |
| dYdX BCH-USD | 0.0000% | 1h | 265.71 | +0.915% | $5K | $248 | 10x | as long as short |
| Kalshi KXBCHPERP | 0.0000% | 8h | 265.83 | +0.961% | $1.1M | $11.0M | 2.7x | as long as short |
| gTrade (Gains Network) BCH/USD | L 0.0000% / S +0.0007% | 1h | 265.52 | +0.843% | $4K | — | 150x | as long as short |
| Orderly PERP_BCH_USDC | +0.0029% | 8h | 265.15 | +0.703% | $2K | $176 | 10x | as long as short |
| Injective BCH/USDC PERP | +0.0033% | 1h | 270.20 | +2.621% | $721 | $130K | 12x | as long as short |
| BloFin BCH-USDT | +0.0034% | 8h | 266.13 | +1.075% | $3.9M | $4.2M | 50x | as long as short |
| Pacifica BCH | +0.0040% | 1h | 265.49 | +0.831% | $161K | $407K | 10x | as long as short |
| KuCoin BCHUSDTM | +0.0064% | 8h | 263.16 | −0.053% | $8.5M | $7.6M | 75x | as long as short |
| Lighter BCH | +0.0096% | 1h | 265.21 | +0.727% | $365K | $478K | 10x | as long as short |
| Hyperliquid BCH | +0.0100% | 1h | 263.66 | +0.137% | $5.7M | $5.1M | 10x | as long as short |
| Aster BCHUSDT | +0.0100% | 8h | 263.51 | +0.079% | $164K | $692K | 75x | as long as short |
| edgeX BCHUSDC | +0.0100% | 4h | 265.61 | +0.876% | $19K | $292K | 20x | as long as short |
| GMX BCH/USD [WBTC.b-USDC] | L +0.0333% / S −0.0451% | 1h | 265.48 | +0.827% | $25K | — | 100x | as long as short |
MEXC BCH_USDT
Extended BCH-USD
HTX BCH-USDT
SunX BCH-USDT
Nado BCH-PERP
Bitget BCHUSDT
OKX BCH-USDT-SWAP
BingX BCH-USDC
dYdX BCH-USD
Kalshi KXBCHPERP
gTrade (Gains Network) BCH/USD
Orderly PERP_BCH_USDC
Injective BCH/USDC PERP
BloFin BCH-USDT
Pacifica BCH
KuCoin BCHUSDTM
Lighter BCH
Hyperliquid BCH
Aster BCHUSDT
edgeX BCHUSDC
GMX BCH/USD [WBTC.b-USDC]