Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0174%/8h= −19.1% APRpaid last 24h −0.006%

Price spread now: Bybit against Hyperliquid−0.108%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.108%, 7d avg −0.062%

Together, before fees+0.025%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.062%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BCH	268.29	0.0100	pay 0.0013% / 1h	37m 15s	$6.0M	$4.1M	10x
Short	Bybit BCHUSDT	268.00	−0.0074	pay 0.0074% / 8h	2h 37m	$39.5M	$32.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. 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 HyperliquidbpFee BybitbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$36.64
Price spread: −0.108% → −0.062%: −$4.64
Slippage, 4 orders: −$22.06
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$83.34
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Bybit: live order book, 2 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 Hyperliquid live order book, 5 min ago	0.93 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.87 bp	11.8 bp −$12	25.3 bp −$253	80.4 bp −$8,036	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
Injective BCH/USDC PERP	−0.0304%	1h	267.23	−0.395%	$713	$80K	12x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0238%	1h	268.12	−0.065%	$438K	$247K	25x	as long as short
Phemex BCHUSDT	−0.0205%	8h	268.12	−0.063%	$4.9M	$6.2M	50x	as long as short
SoDEX BCH-USD	−0.0176%	1h	267.92	−0.138%	$2K	$6K	10x	as long as short
Extended BCH-USD	−0.0120%	1h	267.91	−0.142%	$105K	$643K	25x	as long as short
Binance BCHUSDT	−0.0119%	8h	268.07	−0.082%	$74.0M	$229.0M	75x	as long as short
MEXC BCH_USDT	−0.0118%	8h	268.69	+0.149%	$71.1M	$6.3M	200x	as long as short
Variational Omni BCH	−0.0086%	8h	267.45	−0.313%	$85K	$291K	—	as long as short
Bybit BCHUSDTshort	−0.0074%	8h	268.00	−0.108%	$39.5M	$32.0M	75x
GRVT BCH_USDT_Perp	−0.0057%	8h	267.55	−0.277%	$390K	$17K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0051%	8h	267.99	−0.112%	$20.0M	$28.8M	75x	as long as short
Gate BCH_USDT	−0.0036%	8h	268.05	−0.089%	$8.4M	$14.4M	75x	as long as short
Coinbase International BCH-PERP-INTX	−0.0024%	1h	267.55	−0.276%	$254K	$2.0M	50x	as long as short
BingX BCH-USDT	−0.0012%	8h	268.07	−0.082%	—	$32.1M	—	as long as short
OKX BCH-USDT-SWAP	−0.0006%	8h	268.00	−0.108%	$26.2M	$75.8M	50x	as long as short
dYdX BCH-USD	0.0000%	1h	268.09	−0.074%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	267.66	−0.235%	$1.1M	$11.4M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	268.17	−0.044%	$4K	—	150x	as long as short
BloFin BCH-USDT	+0.0001%	8h	267.26	−0.384%	$4.0M	$4.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0029%	8h	268.01	−0.104%	$2K	$176	10x	as long as short
Kraken Futures PF_BCHUSD	+0.0074%	1h	268.19	−0.036%	$804K	$3.2M	50x	as long as short
KuCoin BCHUSDTM	+0.0084%	8h	268.12	−0.063%	$8.9M	$8.0M	75x	as long as short
Nado BCH-PERP	+0.0086%	1h	268.03	−0.098%	$439K	$427K	10x	as long as short
Lighter BCH	+0.0096%	1h	267.98	−0.116%	$376K	$580K	10x	as long as short
Hyperliquid BCHlong	+0.0100%	1h	268.29	long leg	$6.0M	$4.1M	10x
Aster BCHUSDT	+0.0100%	8h	268.04	−0.095%	$234K	$660K	75x	as long as short
Pacifica BCH	+0.0100%	1h	267.96	−0.122%	$169K	$460K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.36	−0.345%	$19K	$288K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	267.67	−0.231%	$73K	$214K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	267.92	−0.138%	$2K	$2.0M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	267.95	−0.127%	$771K	$1.6M	75x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0366% / S −0.0554%	1h	268.14	−0.056%	$25K	—	100x	as long as short