Funding arb · Price arb /

BCH

all BCH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0747%/8h= +81.8% APRpaid last 24h +0.002%

Price spread now: Injective against Phemex+0.469%7-day average +0.080% · you sell dearer than you buy

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 3 days (all we have)−1.747%−$175 · spread now +0.469%, 7d avg +0.080%

Together, before fees−1.562%−$156 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Injective is 0.388% dearer against Phemex than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of +0.080%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.185% in total (about 9.6% 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	Phemex BCHUSDT	268.94	−0.0714	get 0.0714% / 8h	7h 34m	$4.9M	$6.5M	50x
Short	Injective BCH/USDC PERP	270.20	0.0033	get 0.0004% / 1h	34m 32s	$721	$130K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. 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 PhemexbpFee InjectivebpOrdersPrice spread, now +0.469%Rate

Funding earned: $156.97
Price spread: +0.469% → +0.080%: $38.83
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $183.78
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 4 min ago; Injective: no order-book sample. 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 Phemex live order book, 4 min ago	3.55 bp	11.4 bp −$11	20.2 bp −$202	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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
Phemex BCHUSDTlong	−0.0714%	8h	268.94	long leg	$4.9M	$6.5M	50x
SoDEX BCH-USD	−0.0514%	1h	268.79	−0.056%	$2K	$6K	10x	as long as short
Deribit BCH_USDC-PERPETUAL	−0.0404%	1h	268.88	−0.021%	$454K	$266K	25x	as long as short
HTX BCH-USDT	−0.0263%	8h	268.83	−0.041%	$780K	$1.6M	75x	as long as short
GRVT BCH_USDT_Perp	−0.0258%	8h	267.76	−0.439%	$390K	$17K	10x	as long as short
ApeX Omni BCHUSDT	−0.0171%	1h	268.26	−0.253%	$73K	$214K	50x	as long as short
Variational Omni BCH	−0.0127%	8h	268.51	−0.160%	$82K	$285K	—	as long as short
Gate BCH_USDT	−0.0066%	8h	269.15	+0.078%	$8.5M	$14.2M	75x	as long as short
Extended BCH-USD	−0.0056%	1h	269.01	+0.024%	$114K	$1.0M	25x	as long as short
Coinbase International BCH-PERP-INTX	−0.0056%	1h	268.58	−0.134%	$227K	$2.1M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BCHUSDT	−0.0055%	8h	269.22	+0.104%	$73.0M	$230.3M	75x	as long as short
MEXC BCH_USDT	−0.0054%	8h	269.68	+0.275%	$70.6M	$6.6M	200x	as long as short
Kraken Futures PF_BCHUSD	−0.0049%	1h	269.00	+0.023%	$858K	$3.1M	50x	as long as short
Bybit BCHUSDT	−0.0026%	8h	269.20	+0.097%	$39.8M	$32.7M	75x	as long as short
Bitget BCHUSDT	−0.0009%	8h	269.15	+0.078%	$19.3M	$29.4M	75x	as long as short
Nado BCH-PERP	−0.0003%	1h	269.03	+0.034%	$441K	$420K	10x	as long as short
dYdX BCH-USD	0.0000%	1h	269.25	+0.115%	$5K	$248	10x	as long as short
Kalshi KXBCHPERP	0.0000%	8h	269.04	+0.037%	$1.1M	$10.8M	2.7x	as long as short
gTrade (Gains Network) BCH/USD	L 0.0000% / S +0.0007%	1h	269.35	+0.153%	$4K	—	150x	as long as short
BingX BCH-USDT	+0.0020%	8h	269.05	+0.041%	—	$31.2M	—	as long as short
OKX BCH-USDT-SWAP	+0.0024%	8h	269.10	+0.059%	$26.1M	$77.1M	50x	as long as short
Orderly PERP_BCH_USDC	+0.0031%	8h	268.78	−0.059%	$2K	$176	10x	as long as short
Injective BCH/USDC PERPshort	+0.0033%	1h	270.20	+0.469%	$721	$130K	12x
BloFin BCH-USDT	+0.0065%	8h	268.83	−0.041%	$3.9M	$4.3M	50x	as long as short
Lighter BCH	+0.0096%	1h	269.06	+0.043%	$370K	$529K	10x	as long as short
Hyperliquid BCH	+0.0100%	1h	269.57	+0.234%	$6.0M	$4.4M	10x	as long as short
Aster BCHUSDT	+0.0100%	8h	269.15	+0.079%	$178K	$666K	75x	as long as short
Pacifica BCH	+0.0100%	1h	269.14	+0.075%	$164K	$407K	10x	as long as short
KuCoin BCHUSDTM	+0.0100%	8h	269.23	+0.108%	$9.0M	$7.6M	75x	as long as short
edgeX BCHUSDC	+0.0100%	4h	267.71	−0.458%	$19K	$290K	20x	as long as short
SunX BCH-USDT	+0.0100%	8h	268.56	−0.141%	$2K	$1.9M	30x	as long as short
GMX BCH/USD [WBTC.b-USDC]	L +0.0334% / S −0.0224%	1h	268.91	−0.010%	$31K	—	100x	as long as short