BCH

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0400%/8h= +43.8% APRnext payment +$0.50 per $10,000 · paid last 24h +0.093%

Price spread now: Lighter against Deribit+0.010%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now +0.010%, 7d avg −0.019%

Together, before fees+0.108%+ Points / potential airdropLighter: Season 3 · farm board+$11 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 Lighter is 0.028% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.019%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.50 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	Deribit BCH_USDC-PERPETUAL	268.75	−0.0304	get 0.0038% / 1h	35m 45s	$454K	$266K	25x
Short	Lighter BCH	268.77	0.0096	get 0.0012% / 1h	35m 45s	$370K	$529K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now +0.010%Rate

Funding earned: $84.03
Price spread: +0.010% → −0.019%: $2.83
Slippage, 4 orders: −$26.99
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $52.87
Costs to cover: 0.340%
Break-even: 2.6 days

Slippage from Deribit: live order book, 38 min ago; Lighter: live order book, 30 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 Deribit live order book, 38 min ago	3.96 bp	8.4 bp −$8	14.6 bp −$146	doesn't fit	doesn't fit
Sell Lighter live order book, 30 min ago	3.43 bp	11.7 bp −$12	83.8 bp −$838	177.8 bp −$17.8K	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
Phemex BCHUSDT	−0.0678%	8h	268.64	−0.039%	$4.9M	$6.5M	50x	as long as short
SoDEX BCH-USD	−0.0518%	1h	268.61	−0.051%	$2K	$6K	10x	as long as short
Deribit BCH_USDC-PERPETUALlong	−0.0304%	1h	268.75	long leg	$454K	$266K	25x
HTX BCH-USDT	−0.0299%	8h	268.54	−0.077%	$780K	$1.6M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0258%	8h	267.76	−0.367%	$390K	$17K	10x	as long as short
ApeX Omni BCHUSDT	−0.0181%	1h	267.84	−0.337%	$73K	$214K	50x	as long as short
Variational Omni BCH	−0.0127%	8h	268.51	−0.088%	$82K	$285K	—	as long as short
Gate BCH_USDT	−0.0112%	8h	268.79	+0.016%	$8.5M	$14.2M	75x	as long as short
Extended BCH-USD	−0.0056%	1h	268.60	−0.055%	$115K	$955K	25x	as long as short
Coinbase International BCH-PERP-INTX	−0.0056%	1h	268.58	−0.062%	$227K	$2.1M	50x	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	−0.0055%	8h	269.28	+0.199%	$70.5M	$6.6M	200x	as long as short
Binance BCHUSDT	−0.0055%	8h	268.71	−0.014%	$72.8M	$230.3M	75x	as long as short
Kraken Futures PF_BCHUSD	−0.0049%	1h	268.79	+0.016%	$857K	$3.1M	50x	as long as short
Bybit BCHUSDT	−0.0039%	8h	268.76	+0.005%	$39.8M	$32.6M	75x	as long as short
Bitget BCHUSDT	−0.0008%	8h	268.70	−0.017%	$19.3M	$29.4M	75x	as long as short
Nado BCH-PERP	−0.0001%	1h	268.45	−0.110%	$441K	$420K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	268.96	+0.079%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.97	+0.083%	$1.1M	$10.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.75	+0.002%	$4K	—	150x	as long as short
BingX BCH-USDT	+0.0020%	8h	268.79	+0.016%	—	$31.2M	—	as long as short
OKX BCH-USDT-SWAP	+0.0023%	8h	268.60	−0.054%	$26.1M	$76.9M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0031%	8h	268.59	−0.058%	$2K	$176	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+0.541%	$721	$130K	12x	as long as short
BloFin BCH-USDT	+0.0065%	8h	268.20	−0.203%	$3.9M	$4.2M	50x	as long as short
Lighter BCHshort	+0.0096%	1h	268.77	+0.010%	$370K	$529K	10x
Hyperliquid BCH	+0.0100%	1h	269.07	+0.121%	$6.0M	$4.4M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	268.77	+0.010%	$177K	$666K	75x	as long as short
Pacifica BCH	+0.0100%	1h	268.78	+0.013%	$163K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	268.79	+0.016%	$9.0M	$7.6M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.71	−0.386%	$19K	$290K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	268.40	−0.129%	$2K	$1.9M	30x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0334% / S −0.0224%	1h	268.79	+0.017%	$31K	—	100x	as long as short