Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.010%

Price spread now: Hyperliquid against Gate+0.072%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days−0.059%−$6 · spread now +0.072%, 7d avg +0.029%

Together, before fees−0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hyperliquid is 0.043% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.029%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment. 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	Gate BCH_USDT	264.69	−0.0132	get 0.0132% / 8h	6h 07m	$8.3M	$13.6M	75x
Short	Hyperliquid BCH	264.88	0.0100	get 0.0013% / 1h	7m 07s	$5.7M	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.072%Rate

Funding earned: $48.72
Price spread: +0.072% → +0.029%: $4.3
Slippage, 4 orders: −$22.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $6.71
Costs to cover: 0.463%
Break-even: 6.0 days

Slippage from Gate: live order book, 2 min ago; Hyperliquid: live order book, 5 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 Gate live order book, 2 min ago	3.02 bp	17.4 bp −$17	29.7 bp −$297	41.2 bp −$4,117	55.0 bp −$27.5K
Sell Hyperliquid live order book, 5 min ago	0.56 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit

BCH on 31 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
SunX BCH-USDT	−0.1398%	8h	264.54	−0.057%	$1K	$1.8M	30x	as long as short
SoDEX BCH-USD	−0.0507%	1h	264.71	+0.008%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0475%	8h	264.68	−0.004%	$4.9M	$6.6M	50x	as long as short
HTX BCH-USDT	−0.0433%	8h	264.59	−0.038%	$775K	$1.5M	75x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0380%	1h	264.77	+0.032%	$447K	$254K	25x	as long as short
Kraken Futures PF_BCHUSD	−0.0300%	1h	264.98	+0.109%	$850K	$3.1M	50x	as long as short
GRVT BCH_USDT_Perp	−0.0207%	8h	264.26	−0.162%	$385K	$17K	10x	as long as short
ApeX Omni BCHUSDT	−0.0150%	1h	264.34	−0.132%	$96K	$226K	50x	as long as short
Gate BCH_USDTlong	−0.0132%	8h	264.69	long leg	$8.3M	$13.6M	75x
Variational Omni BCH	−0.0117%	8h	264.80	+0.043%	$81K	$231K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BCH-USD	−0.0112%	1h	264.65	−0.015%	$112K	$963K	25x	as long as short
Coinbase International BCH-PERP-INTX	−0.0112%	1h	264.66	−0.011%	$231K	$1.9M	50x	as long as short
Binance BCHUSDT	−0.0110%	8h	264.65	−0.014%	$71.6M	$228.3M	75x	as long as short
MEXC BCH_USDT	−0.0109%	8h	265.03	+0.128%	$69.9M	$7.1M	200x	as long as short
Nado BCH-PERP	−0.0079%	1h	264.61	−0.031%	$418K	$357K	10x	as long as short
Bybit BCHUSDT	−0.0070%	8h	264.70	+0.004%	$39.1M	$32.4M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0054%	8h	264.60	−0.034%	$25.2M	$76.2M	50x	as long as short
Bitget BCHUSDT	−0.0048%	8h	264.62	−0.026%	$19.0M	$28.8M	75x	as long as short
BingX BCH-USDT	−0.0038%	8h	264.69	0.000%	—	$32.3M	—	as long as short
KuCoin BCHUSDTM	−0.0006%	8h	264.77	+0.030%	$8.6M	$7.5M	75x	as long as short
dYdX BCH-USD	0.0000%	1h	264.95	+0.098%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	265.12	+0.162%	$1.1M	$10.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	264.84	+0.056%	$4K	—	150x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+2.082%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0035%	8h	264.62	−0.026%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0040%	1h	264.94	+0.093%	$161K	$379K	10x	as long as short
Lighter BCH	+0.0096%	1h	264.72	+0.011%	$364K	$478K	10x	as long as short
Hyperliquid BCHshort	+0.0100%	1h	264.88	+0.072%	$5.7M	$4.7M	10x
Aster BCHUSDT	+0.0100%	8h	264.95	+0.098%	$168K	$697K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.21	−0.181%	$19K	$291K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0451%	1h	264.79	+0.040%	$25K	—	100x	as long as short