Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.027%

Price spread now: Phemex against Injective−0.548%7-day average −0.246% · you buy dearer than you sell

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

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 4 days (all we have)+1.969%+$197 · spread now −0.548%, 7d avg −0.246%

Together, before fees+1.757%+$176 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.302% cheaper against Injective than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.246%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BCH/USDC PERP	270.20	0.0033	pay 0.0004% / 1h	48m 38s	$721	$130K	12x
Short	Phemex BCHUSDT	268.72	−0.0245	pay 0.0245% / 8h	4h 48m	$4.9M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee PhemexbpOrdersPrice spread, now −0.548%Rate

Funding earned: −$58.36
Price spread: −0.548% → −0.246%: −$30.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$100.54
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phemex: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	6.30 bp	16.0 bp −$16	21.7 bp −$217	doesn't fit	doesn't fit

Injective: 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 exchanges

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	−0.0400%	1h	269.05	−0.426%	$2K	$8K	10x	as long as short
Phemex BCHUSDTshort	−0.0245%	8h	268.72	−0.548%	$4.9M	$6.3M	50x
OKX BCH-USDT-SWAP	−0.0133%	8h	269.70	−0.185%	$26.1M	$74.5M	50x	as long as short
Gate BCH_USDT	−0.0106%	8h	269.34	−0.318%	$8.1M	$12.9M	75x	as long as short
Variational Omni BCH	−0.0100%	8h	269.68	−0.193%	$163K	$241K	—	as long as short
Binance BCHUSDT	−0.0089%	8h	269.81	−0.143%	$76.1M	$201.3M	75x	as long as short
Extended BCH-USD	−0.0088%	1h	269.16	−0.385%	$121K	$1.1M	25x	as long as short
MEXC BCH_USDT	−0.0088%	8h	270.35	+0.056%	$74.3M	$10.0M	200x	as long as short
GRVT BCH_USDT_Perp	−0.0084%	8h	270.07	−0.048%	$394K	$17K	10x	as long as short
Kraken Futures PF_BCHUSD	−0.0078%	1h	268.73	−0.543%	$903K	$2.4M	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BCHUSDT	−0.0020%	8h	269.57	−0.233%	$19.2M	$25.6M	75x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0003% / S +0.0007%	1h	268.62	−0.585%	$17K	—	150x	as long as short
Pacifica BCH	−0.0003%	1h	269.80	−0.149%	$152K	$274K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	269.73	−0.174%	$5K	$240	10x	as long as short
Bybit BCHUSDT	0.0000%	8h	269.70	−0.185%	$40.5M	$31.4M	75x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	268.45	−0.648%	$1.0M	$8.8M	2.7x	as long as short
KuCoin BCHUSDTM	+0.0002%	8h	269.73	−0.174%	$8.8M	$5.5M	75x	as long as short
BingX BCH-USDT	+0.0010%	8h	269.59	−0.226%	—	$13.7M	—	as long as short
BloFin BCH-USDT	+0.0032%	8h	268.74	−0.540%	$3.6M	$5.6M	50x	as long as short
Injective BCH/USDC PERPlong	+0.0033%	1h	270.20	long leg	$721	$130K	12x
Orderly PERP_BCH_USDC	+0.0037%	8h	268.49	−0.633%	$2K	$540	10x	as long as short
Aster BCHUSDT	+0.0037%	8h	269.78	−0.155%	$150K	$515K	75x	as long as short
Nado BCH-PERP	+0.0053%	1h	268.59	−0.596%	$455K	$385K	10x	as long as short
HTX BCH-USDT	+0.0095%	8h	268.53	−0.618%	$788K	$1.2M	75x	as long as short
Lighter BCH	+0.0096%	1h	269.87	−0.123%	$396K	$406K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	269.94	−0.096%	$9.2M	$6.8M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	270.02	−0.067%	$19K	$346K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	270.08	−0.044%	$49K	$275K	50x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.38	−0.303%	$2K	$1.3M	30x	as long as short
Coinbase International BCH-PERP-INTX	+0.0184%	1h	268.63	−0.581%	$362K	$2.3M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0262% / S −0.0272%	1h	268.88	−0.490%	$17K	—	100x	as long as short
Deribit BCH_USDC-PERPETUAL	+2.4749%	1h	275.54	+1.975%	$447K	$371K	25x	as long as short