Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: Kalshi against Lighter+0.079%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

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

costs, in and out, $10k−$560.558% of the position

Long on Lighter Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)−0.495%−$50 · spread now +0.079%, 7d avg −0.013%

Together, before fees−0.532%+ Points / potential airdropLighter: Season 3 · farm board−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.091% dearer against Lighter than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of −0.013%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.037% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BCH	265.48	0.0096	pay 0.0012% / 1h	1m 27s	$354K	$498K	10x
Short	Kalshi KXBCHPERP	265.69	0	get 0.0000% / 8h	6h 01m	$993K	$10.5M	2.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Lighter. 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 LighterbpFee KalshibpOrdersPrice spread, now +0.079%Rate

Funding earned: −$20.16
Price spread: +0.079% → −0.013%: $9.12
Slippage, 4 orders: −$45.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$66.86
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from Lighter: live order book, 39 min ago; Kalshi: 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 Lighter live order book, 39 min ago	7.77 bp	12.2 bp −$12	77.9 bp −$779	174.5 bp −$17.4K	doesn't fit
Sell Kalshi live order book, 2 min ago	8.09 bp	19.1 bp −$19	23.1 bp −$231	36.0 bp −$3,599	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
SoDEX BCH-USD	−0.0256%	1h	265.45	−0.012%	$2K	$8K	10x	as long as short
HTX BCH-USDT	−0.0193%	8h	265.23	−0.095%	$773K	$1.4M	75x	as long as short
Phemex BCHUSDT	−0.0176%	8h	265.46	−0.008%	$5.0M	$6.6M	50x	as long as short
Bitget BCHUSDT	−0.0097%	8h	265.35	−0.049%	$19.0M	$28.6M	75x	as long as short
KuCoin BCHUSDTM	−0.0096%	8h	265.41	−0.027%	$8.5M	$6.8M	75x	as long as short
OKX BCH-USDT-SWAP	−0.0070%	8h	265.30	−0.068%	$25.3M	$78.3M	50x	as long as short
Variational Omni BCH	−0.0066%	8h	265.70	+0.084%	$81K	$196K	—	as long as short
Binance BCHUSDT	−0.0043%	8h	265.30	−0.068%	$73.1M	$221.1M	75x	as long as short
MEXC BCH_USDT	−0.0042%	8h	265.62	+0.052%	$70.7M	$8.5M	200x	as long as short
Extended BCH-USD	−0.0040%	1h	265.09	−0.146%	$115K	$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
Coinbase International BCH-PERP-INTX	−0.0040%	1h	265.56	+0.030%	$221K	$1.9M	50x	as long as short
Nado BCH-PERP	−0.0031%	1h	265.35	−0.049%	$437K	$355K	10x	as long as short
Bybit BCHUSDT	−0.0029%	8h	265.30	−0.068%	$39.0M	$31.8M	75x	as long as short
BingX BCH-USDT	−0.0020%	8h	265.30	−0.068%	—	$32.9M	—	as long as short
SunX BCH-USDT	−0.0019%	8h	265.34	−0.053%	$2K	$1.7M	30x	as long as short
GRVT BCH_USDT_Perp	−0.0010%	8h	265.47	−0.006%	$387K	$17K	10x	as long as short
gTrade (Gains Network) BCH/USD	L −0.0004% / S +0.0007%	1h	265.52	+0.014%	$15K	—	150x	as long as short
dYdX BCH-USD	0.0000%	1h	265.61	+0.048%	$5K	$240	10x	as long as short
Kalshi KXBCHPERPshort	0.0000%	8h	265.69	+0.079%	$993K	$10.5M	2.7x
Deribit BCH_USDC-PERPETUAL	0.0000%	1h	265.59	+0.040%	$442K	$333K	25x	as long as short
Gate BCH_USDT	+0.0018%	8h	265.37	−0.042%	$8.4M	$13.9M	75x	as long as short
Injective BCH/USDC PERP	+0.0033%	1h	270.20	+1.778%	$721	$130K	12x	as long as short
Orderly PERP_BCH_USDC	+0.0046%	8h	265.40	−0.031%	$2K	$176	10x	as long as short
Aster BCHUSDT	+0.0067%	8h	265.27	−0.080%	$150K	$564K	75x	as long as short
BloFin BCH-USDT	+0.0080%	8h	265.58	+0.037%	$3.9M	$4.5M	50x	as long as short
Lighter BCHlong	+0.0096%	1h	265.48	long leg	$354K	$498K	10x
Hyperliquid BCH	+0.0100%	1h	265.51	+0.011%	$5.7M	$4.7M	10x	as long as short
Pacifica BCH	+0.0100%	1h	265.42	−0.021%	$159K	$312K	10x	as long as short
edgeX BCHUSDC	+0.0100%	4h	265.39	−0.032%	$18K	$346K	20x	as long as short
ApeX Omni BCHUSDT	+0.0100%	1h	265.88	+0.150%	$95K	$237K	50x	as long as short
Kraken Futures PF_BCHUSD	+0.0179%	1h	265.61	+0.048%	$849K	$3.0M	50x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0202% / S −0.0147%	1h	265.46	−0.010%	$12K	—	100x	as long as short