Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0364%/8h= −39.8% APRpaid last 24h −0.080%

Price spread now: Phemex against GMX+0.005%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Phemex

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BCH/USD [WBTC.b-USDC]	261.69	L +0.0202% / S −0.0147%	pay 0.0025% / 1h	27m 28s	$12K	—	100x
Short	Phemex BCHUSDT	261.70	−0.0162	pay 0.0162% / 8h	2h 27m	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$76.35
Price spread: +0.005% → 0.000%: $0.5
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.86
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 1 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 Phemex live order book, 1 min ago	6.11 bp	22.6 bp −$23	28.9 bp −$289	doesn't fit	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	−0.0244%	1h	261.64	−0.018%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0231%	8h	261.79	+0.039%	$764K	$1.4M	75x	as long as short
Phemex BCHUSDTshort	−0.0162%	8h	261.70	+0.005%	$4.9M	$6.5M	50x
Bitget BCHUSDT	−0.0118%	8h	261.64	−0.018%	$18.7M	$28.6M	75x	as long as short
KuCoin BCHUSDTM	−0.0104%	8h	261.80	+0.043%	$8.4M	$6.8M	75x	as long as short
SunX BCH-USDT	−0.0092%	8h	261.54	−0.056%	$2K	$1.7M	30x	as long as short
OKX BCH-USDT-SWAP	−0.0078%	8h	261.50	−0.071%	$24.9M	$76.7M	50x	as long as short
Variational Omni BCH	−0.0076%	8h	262.41	+0.276%	$80K	$196K	—	as long as short
Nado BCH-PERP	−0.0074%	1h	261.50	−0.071%	$427K	$352K	10x	as long as short
Extended BCH-USD	−0.0056%	1h	261.68	−0.001%	$111K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0056%	8h	261.63	−0.020%	$72.3M	$219.8M	75x	as long as short
MEXC BCH_USDT	−0.0055%	8h	262.05	+0.139%	$69.1M	$8.2M	200x	as long as short
Coinbase International BCH-PERP-INTX	−0.0040%	1h	261.85	+0.062%	$218K	$1.8M	50x	as long as short
Bybit BCHUSDT	−0.0033%	8h	261.50	−0.071%	$38.5M	$31.7M	75x	as long as short
BingX BCH-USDT	−0.0028%	8h	261.56	−0.049%	—	$32.9M	—	as long as short
GRVT BCH_USDT_Perp	−0.0027%	8h	262.81	+0.429%	$383K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	261.75	+0.024%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	261.90	+0.083%	$5K	$240	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	262.10	+0.158%	$975K	$10.5M	2.7x	as long as short
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	261.73	+0.017%	$436K	$333K	25x	as long as short
Gate BCH_USDT	+0.0007%	8h	261.68	−0.003%	$8.2M	$13.8M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+3.253%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0045%	8h	261.57	−0.045%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0062%	8h	261.50	−0.072%	$152K	$555K	75x	as long as short
BloFin BCH-USDT	+0.0065%	8h	262.39	+0.269%	$3.9M	$4.4M	50x	as long as short
Lighter BCH	+0.0096%	1h	261.84	+0.058%	$351K	$495K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	261.84	+0.058%	$5.6M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	261.82	+0.050%	$157K	$306K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	262.65	+0.369%	$18K	$327K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	262.86	+0.448%	$96K	$235K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0182%	1h	261.78	+0.034%	$837K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]long	L +0.0202% / S −0.0147%	1h	261.69	long leg	$12K	—	100x