Funding arb · Price arb /

BCH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0256%/8h= +28.1% APRpaid last 24h +0.036%

Price spread now: Bitget against Kraken Futures−0.175%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.175%, 7d avg −0.064%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.111% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.175% now, against its 7-day average of −0.064%). If the spread goes back, that is −$11 on $10k: about 35 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.129% in total) that is about 6.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.129% in total (about 6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BCHUSD	265.62	−0.0299	get 0.0037% / 1h	21m 04s	$852K	$3.1M	50x
Short	Bitget BCHUSDT	265.16	−0.0043	pay 0.0043% / 8h	6h 21m	$19.0M	$29.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.175%Rate

Funding earned: $53.82
Price spread: −0.175% → −0.064%: −$11.05
Slippage, 4 orders: −$25.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$4.68
Costs to cover: 0.475%
Break-even: 7.6 days

Slippage from Kraken Futures: live order book, 3 min ago; Bitget: live order book, 3 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 Kraken Futures live order book, 3 min ago	6.20 bp	16.4 bp −$16	28.7 bp −$287	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.56 bp	11.0 bp −$11	17.7 bp −$177	doesn't fit	doesn't fit

BCH on 31 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
SunX BCH-USDT	−0.0942%	8h	265.56	−0.024%	$2K	$1.8M	30x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0608%	1h	265.49	−0.051%	$449K	$255K	25x	as long as short
SoDEX BCH-USD	−0.0541%	1h	265.35	−0.103%	$2K	$6K	10x	as long as short
Phemex BCHUSDT	−0.0462%	8h	265.39	−0.088%	$4.9M	$6.6M	50x	as long as short
HTX BCH-USDT	−0.0341%	8h	265.61	−0.005%	$778K	$1.6M	75x	as long as short
Kraken Futures PF_BCHUSDlong	−0.0299%	1h	265.62	long leg	$852K	$3.1M	50x
ApeX Omni BCHUSDT	−0.0196%	1h	265.78	+0.059%	$97K	$227K	50x	as long as short
GRVT BCH_USDT_Perp	−0.0190%	8h	265.70	+0.029%	$387K	$17K	10x	as long as short
Gate BCH_USDT	−0.0121%	8h	265.53	−0.035%	$8.4M	$13.5M	75x	as long as short
Variational Omni BCH	−0.0117%	8h	265.40	−0.084%	$81K	$231K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BCH-PERP-INTX	−0.0112%	1h	265.88	+0.096%	$232K	$2.0M	50x	as long as short
Extended BCH-USD	−0.0104%	1h	265.28	−0.130%	$112K	$964K	25x	as long as short
Binance BCHUSDT	−0.0101%	8h	265.24	−0.145%	$71.7M	$229.3M	75x	as long as short
MEXC BCH_USDT	−0.0099%	8h	265.76	+0.051%	$70.1M	$7.0M	200x	as long as short
Bybit BCHUSDT	−0.0067%	8h	265.20	−0.160%	$39.2M	$33.0M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0051%	8h	265.10	−0.197%	$25.3M	$78.1M	50x	as long as short
Bitget BCHUSDTshort	−0.0043%	8h	265.16	−0.175%	$19.0M	$29.2M	75x
Nado BCH-PERP	−0.0040%	1h	265.55	−0.028%	$420K	$380K	10x	as long as short
BingX BCH-USDC	−0.0031%	8h	265.44	−0.069%	—	$6.5M	—	as long as short
dYdX BCH-USD	0.0000%	1h	265.94	+0.120%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	266.11	+0.183%	$1.1M	$10.7M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	265.72	+0.036%	$4K	—	150x	as long as short
KuCoin BCHUSDTM	+0.0024%	8h	265.55	−0.028%	$8.6M	$7.5M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.723%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0034%	8h	265.38	−0.092%	$2K	$176	10x	as long as short
Pacifica BCH	+0.0040%	1h	265.68	+0.021%	$162K	$404K	10x	as long as short
Lighter BCH	+0.0096%	1h	265.43	−0.074%	$365K	$478K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	265.59	−0.012%	$5.7M	$5.0M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	265.45	−0.065%	$168K	$697K	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.67	+0.016%	$19K	$291K	20x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0333% / S −0.0451%	1h	265.68	+0.021%	$25K	—	100x	as long as short