Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0083%/8h= −9.1% APRpaid last 24h −0.006%

Price spread now: Phemex against Extended+0.223%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$1021.023% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.223%, 7d avg +0.060%

Together, before fees−0.163%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.163% dearer against Extended than usual: you sell high and buy low (spread +0.223% now, against its 7-day average of +0.060%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BCH-USD	265.75	−0.0016	get 0.0002% / 1h	26m 01s	$115K	$652K	25x
Short	Phemex BCHUSDT	266.34	−0.0099	pay 0.0099% / 8h	26m 01s	$4.8M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.223%Rate

Funding earned: −$17.39
Price spread: +0.223% → +0.060%: $16.3
Slippage, 4 orders: −$85.25
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$103.33
Costs to cover: 1.023%
Break-even: never at this rate

Slippage from Extended: live order book, 52 min ago; Phemex: live order book, 3 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 Extended live order book, 52 min ago	0.93 bp	7.0 bp −$7	87.3 bp −$873	doesn't fit	doesn't fit
Sell Phemex live order book, 3 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	−0.0580%	1h	266.11	+0.135%	$450K	$266K	25x	as long as short
SoDEX BCH-USD	−0.0228%	1h	265.96	+0.080%	$2K	$6K	10x	as long as short
Variational Omni BCH	−0.0145%	8h	266.12	+0.140%	$82K	$292K	—	as long as short
Kraken Futures PF_BCHUSD	−0.0126%	1h	266.30	+0.206%	$848K	$3.1M	50x	as long as short
Phemex BCHUSDTshort	−0.0099%	8h	266.34	+0.223%	$4.8M	$6.4M	50x
Bybit BCHUSDT	−0.0089%	8h	265.64	−0.041%	$39.1M	$33.0M	75x	as long as short
Injective BCH/USDC PERP	−0.0054%	1h	270.20	+1.675%	$721	$130K	12x	as long as short
Coinbase International BCH-PERP-INTX	−0.0032%	1h	266.31	+0.211%	$223K	$2.1M	50x	as long as short
Binance BCHUSDT	−0.0020%	8h	265.65	−0.039%	$72.8M	$233.7M	75x	as long as short
MEXC BCH_USDT	−0.0017%	8h	266.28	+0.200%	$69.8M	$6.8M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BCH-USDlong	−0.0016%	1h	265.75	long leg	$115K	$652K	25x
Gate BCH_USDT	−0.0014%	8h	265.77	+0.008%	$8.3M	$14.7M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	266.49	+0.279%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.55	+0.302%	$1.2M	$11.9M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	266.45	+0.265%	$4K	—	150x	as long as short
Orderly PERP_BCH_USDC	+0.0028%	8h	266.05	+0.113%	$2K	$176	10x	as long as short
Bitget BCHUSDT	+0.0028%	8h	265.87	+0.046%	$19.1M	$29.9M	75x	as long as short
GRVT BCH_USDT_Perp	+0.0032%	8h	269.11	+1.264%	$392K	$17K	10x	as long as short
OKX BCH-USDT-SWAP	+0.0037%	8h	265.60	−0.056%	$25.8M	$77.9M	50x	as long as short
BingX BCH-USDT	+0.0039%	8h	265.72	−0.011%	—	$31.0M	—	as long as short
Lighter BCH	+0.0096%	1h	266.09	+0.128%	$367K	$557K	10x	as long as short
Nado BCH-PERP	+0.0100%	1h	266.35	+0.226%	$444K	$435K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	266.36	+0.230%	$6.0M	$4.5M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	266.18	+0.163%	$212K	$676K	75x	as long as short
Pacifica BCH	+0.0100%	1h	266.26	+0.192%	$162K	$440K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	265.84	+0.034%	$9.1M	$7.8M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	268.79	+1.145%	$19K	$289K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	269.03	+1.235%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	265.85	+0.038%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	265.84	+0.034%	$773K	$1.7M	75x	as long as short
BloFin BCH-USDT	+0.0103%	8h	265.79	+0.016%	$4.0M	$4.2M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0332% / S −0.0340%	1h	266.37	+0.234%	$27K	—	100x	as long as short