Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.003%

Price spread now: Bybit against Coinbase International+0.013%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now +0.013%, 7d avg −0.015%

Together, before fees+0.058%+$6 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 Bybit is 0.028% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	788.26	0.0064	pay 0.0008% / 1h	4m 08s	$579K	$1.9M	50x
Short	Bybit BNBUSDT	788.36	0.0100	get 0.0100% / 8h	4h 04m	$138.7M	$74.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.013%Rate

Funding earned: $7.56
Price spread: +0.013% → −0.015%: $2.77
Slippage, 4 orders: −$10.87
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$21.54
Costs to cover: 0.319%
Break-even: 26.9 days

Slippage from Coinbase International: live order book, 5 min ago; Bybit: live order book, 5 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 Coinbase International live order book, 5 min ago	3.04 bp	9.1 bp −$9	14.1 bp −$141	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.63 bp	6.8 bp −$7	9.7 bp −$97	27.9 bp −$2,790	112.9 bp −$56.5K

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 −0.0189% / S +0.0354%	1h	788.31	+0.006%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.30	+0.005%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.68	+0.053%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.39	+0.016%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	788.86	+0.077%	$6.1M	$18.7M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.135%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0047%	8h	788.62	+0.046%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	789.30	+0.132%	$80.0M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	789.19	+0.118%	$492.5M	$791.4M	75x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.19	+0.118%	$69.0M	$50.3M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTXlong	+0.0064%	1h	788.26	long leg	$579K	$1.9M	50x
Lighter BNB	+0.0096%	1h	788.78	+0.066%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	+0.024%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.75	−0.065%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.10	+0.107%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.24	−0.003%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	788.36	+0.013%	$138.7M	$74.0M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	+0.018%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	+0.005%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.40	+0.018%	$35.5M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.36	+0.013%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.26	0.000%	$76.3M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.95	+0.088%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.070%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.58	+0.041%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.72	+0.058%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.013%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.48	+0.028%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.71	+0.058%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.60	+0.043%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.52	+0.033%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.36	+0.013%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.98	−0.036%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.50	+0.031%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	788.48	+0.028%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0119%	1h	787.86	−0.051%	$159K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0154%	8h	788.72	+0.058%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	788.80	+0.069%	$132K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0177%	8h	788.55	+0.037%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	+0.039%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.67	+0.052%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.45	+0.024%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.88	+0.078%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.05	−0.026%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0360%	1h	788.19	−0.009%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	788.44	+0.023%	$1.1M	$967K	20x	as long as short