Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h 0.000%

Price spread now: Coinbase International against Kalshi+0.111%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$560.564% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.111%, 7d avg +0.034%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.077% dearer against Kalshi than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.034%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.067% in total (about 3.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXBCHPERP	270.23	0	get 0.0000% / 8h	1h 06m	$1.0M	$8.7M	2.7x
Short	Coinbase International BCH-PERP-INTX	270.53	0.0200	get 0.0025% / 1h	6m 44s	$364K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kalshi. 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 KalshibpFee Coinbase InternationalbpOrdersPrice spread, now +0.111%Rate

Funding earned: $42
Price spread: +0.111% → +0.034%: $7.69
Slippage, 4 orders: −$36.39
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$6.69
Costs to cover: 0.564%
Break-even: 8.1 days

Slippage from Kalshi: live order book, 5 min ago; Coinbase International: 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 Kalshi live order book, 5 min ago	4.26 bp	9.3 bp −$9	15.9 bp −$159	31.2 bp −$3,120	doesn't fit
Sell Coinbase International live order book, 5 min ago	5.92 bp	14.5 bp −$14	19.4 bp −$194	doesn't fit	doesn't fit

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	−0.0378%	1h	269.89	−0.126%	$2K	$8K	10x	as long as short
Phemex BCHUSDT	−0.0243%	8h	270.10	−0.048%	$5.0M	$6.3M	50x	as long as short
OKX BCH-USDT-SWAP	−0.0132%	8h	269.60	−0.233%	$26.1M	$74.6M	50x	as long as short
Variational Omni BCH	−0.0110%	8h	269.68	−0.202%	$163K	$241K	—	as long as short
GRVT BCH_USDT_Perp	−0.0092%	8h	269.59	−0.238%	$393K	$17K	10x	as long as short
Extended BCH-USD	−0.0088%	1h	269.79	−0.162%	$121K	$924K	25x	as long as short
Binance BCHUSDT	−0.0087%	8h	269.71	−0.192%	$75.7M	$200.4M	75x	as long as short
MEXC BCH_USDT	−0.0087%	8h	270.60	+0.137%	$74.0M	$10.1M	200x	as long as short
Gate BCH_USDT	−0.0084%	8h	269.79	−0.163%	$8.1M	$13.3M	75x	as long as short
Bitget BCHUSDT	−0.0012%	8h	269.69	−0.200%	$19.3M	$26.0M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BCHUSDT	−0.0008%	1h	269.66	−0.211%	$49K	$273K	50x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0003% / S +0.0007%	1h	270.12	−0.042%	$18K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	269.84	−0.144%	$5K	$240	10x	as long as short
Kalshi KXBCHPERPlong	0.0000%	8h	270.23	long leg	$1.0M	$8.7M	2.7x
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	270.01	−0.081%	$437K	$369K	25x	as long as short
BingX BCH-USDC	+0.0002%	8h	269.79	−0.163%	—	$6.5M	—	as long as short
KuCoin BCHUSDTM	+0.0005%	8h	269.79	−0.163%	$8.7M	$5.5M	75x	as long as short
Bybit BCHUSDT	+0.0010%	8h	269.70	−0.196%	$40.5M	$31.5M	75x	as long as short
Kraken Futures PF_BCHUSD	+0.0024%	1h	270.08	−0.054%	$904K	$2.4M	50x	as long as short
BloFin BCH-USDT	+0.0033%	8h	269.85	−0.141%	$3.7M	$5.6M	50x	as long as short
Pacifica BCH	+0.0033%	1h	269.80	−0.159%	$152K	$274K	10x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	−0.011%	$721	$130K	12x	as long as short
Aster BCHUSDT	+0.0033%	8h	269.85	−0.141%	$152K	$515K	75x	as long as short
Orderly PERP_BCH_USDC	+0.0041%	8h	269.84	−0.144%	$2K	$540	10x	as long as short
Nado BCH-PERP	+0.0072%	1h	269.99	−0.088%	$456K	$385K	10x	as long as short
Lighter BCH	+0.0096%	1h	269.79	−0.163%	$396K	$451K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	270.10	−0.048%	$9.2M	$6.7M	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	269.50	−0.272%	$19K	$345K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	269.89	−0.126%	$1K	$1.3M	30x	as long as short
HTX BCH-USDT	+0.0100%	8h	270.08	−0.056%	$793K	$1.2M	75x	as long as short
Coinbase International BCH-PERP-INTXshort	+0.0200%	1h	270.53	+0.111%	$364K	$2.3M	50x
GMX BCH/USD [WBTC.b-USDC]	L +0.0246% / S −0.0244%	1h	270.09	−0.053%	$17K	—	100x	as long as short