Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h −0.076%

Price spread now: Kalshi against GMX−0.042%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kalshi is 0.042% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BCH/USD [WBTC.b-USDC]	264.99	L +0.0202% / S −0.0147%	pay 0.0025% / 1h	27m 05s	$12K	—	100x
Short	Kalshi KXBCHPERP	264.88	0	get 0.0000% / 8h	5h 27m	$984K	$10.5M	2.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against GMX. 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 GMXbpFee KalshibpOrdersPrice spread, now −0.042%Rate

Funding earned: −$42.43
Price spread: −0.042% → 0.000%: −$4.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$68.62
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	9.07 bp	14.1 bp −$14	19.6 bp −$196	32.4 bp −$3,236	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
SoDEX BCH-USD	−0.0395%	1h	264.87	−0.046%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0176%	8h	264.90	−0.034%	$775K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0160%	8h	264.90	−0.034%	$4.9M	$6.6M	50x	as long as short
Kraken Futures PF_BCHUSD	−0.0103%	1h	265.04	+0.020%	$862K	$2.9M	50x	as long as short
KuCoin BCHUSDTM	−0.0101%	8h	265.09	+0.037%	$8.5M	$6.7M	75x	as long as short
Variational Omni BCH	−0.0091%	8h	264.10	−0.335%	$81K	$196K	—	as long as short
Bitget BCHUSDT	−0.0086%	8h	264.99	0.000%	$19.0M	$28.4M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0076%	8h	265.00	+0.003%	$25.3M	$78.1M	50x	as long as short
Bybit BCHUSDT	−0.0062%	8h	264.86	−0.049%	$38.9M	$31.8M	75x	as long as short
Binance BCHUSDT	−0.0050%	8h	265.00	+0.001%	$72.9M	$220.9M	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	−0.0049%	8h	265.30	+0.117%	$70.8M	$8.8M	200x	as long as short
Extended BCH-USD	−0.0048%	1h	264.79	−0.077%	$111K	$771K	25x	as long as short
BingX BCH-USDC	−0.0038%	8h	265.00	+0.003%	—	$6.5M	—	as long as short
GRVT BCH_USDT_Perp	−0.0031%	8h	264.25	−0.278%	$385K	$17K	10x	as long as short
Gate BCH_USDT	−0.0009%	8h	265.03	+0.015%	$8.4M	$13.8M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	264.47	−0.197%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	264.72	−0.103%	$5K	$240	10x	as long as short
Kalshi KXBCHPERPshort	0.0000%	8h	264.88	−0.042%	$984K	$10.5M	2.7x
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.05	+0.022%	$441K	$336K	25x	as long as short
Nado BCH-PERP	+0.0007%	1h	264.52	−0.176%	$434K	$356K	10x	as long as short
Coinbase International BCH-PERP-INTX	+0.0008%	1h	265.10	+0.041%	$224K	$1.9M	50x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.966%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	264.92	−0.027%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0052%	8h	264.89	−0.036%	$137K	$590K	75x	as long as short
SunX BCH-USDT	+0.0058%	8h	264.71	−0.106%	$2K	$1.7M	30x	as long as short
BloFin BCH-USDT	+0.0070%	8h	264.95	−0.016%	$3.9M	$4.5M	50x	as long as short
Lighter BCH	+0.0096%	1h	264.95	−0.017%	$353K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.19	+0.075%	$5.7M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	264.63	−0.135%	$159K	$312K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	264.42	−0.215%	$18K	$343K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	264.75	−0.091%	$95K	$239K	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]long	L +0.0202% / S −0.0147%	1h	264.99	long leg	$12K	—	100x