Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.004%

Price spread now: Coinbase International against BingX+0.160%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 3 days (all we have)−0.384%−$38 · spread now +0.160%, 7d avg −0.035%

Together, before fees−0.462%−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.195% dearer against BingX than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of −0.035%): +$20 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 46 days. At the pace of the last 7 days (−0.078% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDT	803.95	0.0102	pay 0.0102% / 8h	2h 57m	—	$34.5M	—
Short	Coinbase International BNB-PERP-INTX	805.24	0.0088	get 0.0011% / 1h	57m 40s	$609K	$902K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$2.94
Price spread: +0.160% → −0.035%: $19.5
Slippage, 4 orders: −$9.06
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$12.5
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Coinbase International: live order book, 30 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 BingX live order book, 11 min ago	0.12 bp	5.6 bp −$6	6.7 bp −$67	11.9 bp −$1,185	25.4 bp −$12.7K
Sell Coinbase International live order book, 30 min ago	3.05 bp	8.6 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit

BNB on 46 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
GMX BNB/USD [WBTC.b-USDC]	L −0.0195% / S +0.0371%	1h	804.07	+0.014%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.02	+0.133%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.89	+0.117%	$3.0M	$30.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.10	+0.143%	$110K	$2.6M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.96	+0.126%	$870K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.22	+0.033%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.89	−0.007%	$2.5M	$916K	50x	as long as short
Variational Omni BNB	+0.0067%	8h	804.96	+0.126%	$4.1M	$5.4M	—	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0088%	1h	805.24	+0.160%	$609K	$902K	50x
Aster BNBUSDT	+0.0089%	8h	804.45	+0.062%	$6.4M	$19.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	804.10	+0.019%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.38	+0.054%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.93	−0.002%	$1.2M	$923K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	803.26	−0.086%	$139.1M	$83.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.50	−0.056%	$55.0M	$115.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.90	+0.118%	$52K	$191K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	803.65	−0.037%	$36.0M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.70	−0.031%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.34	−0.076%	$79.0M	$24.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.07	+0.139%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.12	+0.146%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.40	+0.056%	$118K	$871K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.16	+0.026%	$389K	$596K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.34	+0.049%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.21	+0.156%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	804.10	+0.019%	$395K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.82	−0.016%	$8.2M	$7.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.26	+0.039%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	804.70	+0.093%	$84.4M	$13.5M	200x	as long as short
BingX BNB-USDTlong	+0.0102%	8h	803.95	long leg	—	$34.5M	—
Binance BNBUSDT	+0.0102%	8h	804.25	+0.037%	$518.9M	$809.5M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	803.46	−0.061%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.16	+0.026%	$386K	$40K	10x	as long as short
Phoenix BNB	+0.0110%	1h	805.39	+0.179%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0114%	8h	804.61	+0.082%	$70.2M	$51.7M	50x	as long as short
Bulk BNB-USD	+0.0140%	1h	805.09	+0.141%	$650K	$11K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	804.46	+0.064%	$1.6M	$160K	25x	as long as short
dYdX BNB-USD	+0.0208%	1h	803.90	−0.006%	$170K	$55K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.99	+0.129%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0216%	1h	804.51	+0.070%	$51.7M	$21.3M	10x	as long as short
BloFin BNB-USDT	+0.0222%	8h	805.45	+0.187%	$18.9M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	805.02	+0.133%	$71K	$49K	12x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	805.31	+0.169%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	804.09	+0.018%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.121%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0669%	1h	804.87	+0.114%	$3.0M	$5.3M	40x	as long as short