Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0061%/8h= −6.6% APRpaid last 24h −0.002%

Price spread now: Phemex against Coinbase International+0.023%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1121.123% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)+0.050%+$5 · spread now +0.023%, 7d avg −0.027%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.050% dearer against Coinbase International than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.027%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.007% in total) that is about 51 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BCH-PERP-INTX	265.44	−0.0032	get 0.0004% / 1h	24m 58s	$224K	$2.1M	50x
Short	Phemex BCHUSDT	265.50	−0.0093	pay 0.0093% / 8h	24m 58s	$4.8M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$12.75
Price spread: +0.023% → −0.027%: $5
Slippage, 4 orders: −$90.25
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$120.01
Costs to cover: 1.123%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Phemex: live order book, 4 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 Coinbase International live order book, 4 min ago	2.81 bp	14.4 bp −$14	22.1 bp −$221	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	18.20 bp	61.7 bp −$62	74.7 bp −$747	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	−0.0589%	1h	265.54	+0.038%	$449K	$266K	25x	as long as short
SoDEX BCH-USD	−0.0240%	1h	265.35	−0.034%	$2K	$6K	10x	as long as short
Variational Omni BCH	−0.0145%	8h	266.12	+0.256%	$82K	$292K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0126%	1h	265.64	+0.077%	$846K	$3.1M	50x	as long as short
Phemex BCHUSDTshort	−0.0093%	8h	265.50	+0.023%	$4.8M	$6.4M	50x
Bybit BCHUSDT	−0.0091%	8h	265.30	−0.053%	$39.1M	$32.9M	75x	as long as short
Injective BCH/USDC PERP	−0.0054%	1h	270.20	+1.793%	$721	$130K	12x	as long as short
Coinbase International BCH-PERP-INTXlong	−0.0032%	1h	265.44	long leg	$224K	$2.1M	50x
Extended BCH-USD	−0.0024%	1h	265.32	−0.046%	$115K	$652K	25x	as long as short
Binance BCHUSDT	−0.0020%	8h	265.39	−0.019%	$72.7M	$233.9M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BCH_USDT	−0.0019%	8h	265.76	+0.121%	$69.6M	$6.8M	200x	as long as short
Gate BCH_USDT	−0.0016%	8h	265.27	−0.064%	$8.3M	$14.8M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	265.96	+0.195%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.20	+0.286%	$1.2M	$11.9M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	265.75	+0.118%	$4K	—	150x	as long as short
GRVT BCH_USDT_Perp	+0.0026%	8h	266.22	+0.295%	$388K	$17K	10x	as long as short
Bitget BCHUSDT	+0.0027%	8h	265.26	−0.068%	$19.0M	$30.0M	75x	as long as short
Orderly PERP_BCH_USDC	+0.0028%	8h	265.44	0.000%	$2K	$176	10x	as long as short
OKX BCH-USDT-SWAP	+0.0037%	8h	265.40	−0.015%	$25.8M	$78.0M	50x	as long as short
BingX BCH-USDT	+0.0039%	8h	265.16	−0.105%	—	$31.0M	—	as long as short
Lighter BCH	+0.0096%	1h	265.31	−0.047%	$366K	$557K	10x	as long as short
BloFin BCH-USDT	+0.0100%	8h	265.43	−0.004%	$3.9M	$4.2M	50x	as long as short
Nado BCH-PERP	+0.0100%	1h	265.50	+0.022%	$442K	$436K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.52	+0.031%	$6.0M	$4.5M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	265.13	−0.117%	$211K	$676K	75x	as long as short
Pacifica BCH	+0.0100%	1h	265.73	+0.108%	$161K	$440K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	265.52	+0.030%	$9.1M	$7.8M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	268.79	+1.262%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	269.03	+1.352%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	265.45	+0.004%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	265.34	−0.038%	$771K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0332% / S −0.0340%	1h	265.87	+0.160%	$27K	—	100x	as long as short