Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.001%

Price spread now: Coinbase International against Bybit+0.149%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)−0.262%−$26 · spread now +0.149%, 7d avg +0.014%

Together, before fees−0.268%−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.135% dearer against Bybit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	798.70	0.0046	pay 0.0046% / 8h	28m 02s	$138.6M	$77.0M	75x
Short	Coinbase International BNB-PERP-INTX	799.89	0.0072	get 0.0009% / 1h	28m 02s	$606K	$992K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.149%Rate

Funding earned: $5.46
Price spread: +0.149% → +0.014%: $13.48
Slippage, 4 orders: −$11.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$13.34
Costs to cover: 0.323%
Break-even: 24.1 days

Slippage from Bybit: live order book, 1 min ago; Coinbase International: live order book, 50 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 Bybit live order book, 1 min ago	0.63 bp	6.1 bp −$6	8.2 bp −$82	22.2 bp −$2,219	137.2 bp −$68.6K
Sell Coinbase International live order book, 50 min ago	3.62 bp	10.0 bp −$10	14.6 bp −$146	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 −0.0201% / S +0.0372%	1h	799.13	+0.054%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.68	+0.123%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.97	+0.033%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.28	+0.198%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.20	+0.188%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.16	+0.057%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0017%	8h	799.36	+0.082%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0039%	8h	799.18	+0.060%	—	$34.7M	—	as long as short
Bybit BNBUSDTlong	+0.0046%	8h	798.70	long leg	$138.6M	$77.0M	75x
Coinbase International BNB-PERP-INTXshort	+0.0072%	1h	799.89	+0.149%	$606K	$992K	50x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0092%	8h	799.69	+0.124%	$6.3M	$18.9M	200x	as long as short
Lighter BNB	+0.0096%	1h	799.41	+0.088%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.78	+0.010%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.33	+0.079%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.80	+0.013%	$54.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.50	+0.100%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.90	+0.025%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.08	+0.048%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.74	+0.005%	$79.2M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.41	+0.215%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.53	+0.229%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.95	+0.031%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.07	+0.046%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.33	+0.079%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.69	+0.123%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	+0.075%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.39	+0.087%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.67	+0.122%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.65	−0.006%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.34	+0.080%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0111%	8h	799.69	+0.124%	$69.9M	$50.6M	50x	as long as short
Binance BNBUSDT	+0.0113%	8h	799.68	+0.123%	$499.3M	$815.7M	75x	as long as short
MEXC BNB_USDT	+0.0114%	8h	800.10	+0.175%	$83.0M	$13.5M	200x	as long as short
Kalshi KXBNBPERP	+0.0121%	8h	799.80	+0.138%	$110K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	800.12	+0.178%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	799.53	+0.104%	$70K	$43K	12x	as long as short
Hyperliquid BNB	+0.0180%	1h	799.81	+0.139%	$51.8M	$21.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.53	+0.104%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0234%	8h	799.80	+0.138%	$18.2M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0239%	1h	800.03	+0.167%	$650K	$19K	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.40	+0.088%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	799.74	+0.130%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.800%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.49	−0.026%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0387%	1h	799.32	+0.078%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0405%	1h	799.95	+0.157%	$2.7M	$5.7M	40x	as long as short