BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRnext payment +$0.13 per $10,000 · paid last 24h +0.018%

Price spread now: Deribit against Coinbase International−0.137%7-day average +0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.222%+$22 on $10k

Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.137%, 7d avg +0.059%

Together, before fees+0.452%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.197% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of +0.059%). If the spread goes back, that is −$20 on $10k: about 6.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	801.17	0.0096	pay 0.0012% / 1h	11m 33s	$610K	$995K	50x
Short	Deribit BNB_USDC-PERPETUAL	800.07	0.0200	get 0.0025% / 1h	11m 33s	$1.6M	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.137%Rate

Funding earned: $21.84
Price spread: −0.137% → +0.059%: −$19.65
Slippage, 4 orders: −$19.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.84
Costs to cover: 0.360%
Break-even: 17.8 days

Slippage from Coinbase International: live order book, 7 min ago; Deribit: 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 Coinbase International live order book, 7 min ago	3.62 bp	9.0 bp −$9	13.2 bp −$132	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	1.87 bp	9.1 bp −$9	13.7 bp −$137	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	799.59	−0.197%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.16	−0.126%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.06	−0.139%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	800.30	−0.109%	$147K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	800.45	−0.090%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.62	−0.194%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0035%	8h	799.95	−0.152%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0059%	8h	799.77	−0.175%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0065%	8h	799.30	−0.233%	$139.1M	$79.1M	75x	as long as short
Aster BNBUSDT	+0.0095%	8h	800.15	−0.127%	$6.3M	$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	799.94	−0.153%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0096%	1h	801.17	long leg	$610K	$995K	50x
Nado BNB-PERP	+0.0100%	1h	799.48	−0.211%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.94	−0.154%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.40	−0.221%	$54.6M	$115.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.00	−0.146%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.40	−0.221%	$35.7M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.59	−0.197%	$28.0M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.39	−0.222%	$80.8M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.31	−0.107%	$4.2M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.33	−0.105%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.56	−0.201%	$121K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.54	−0.203%	$386K	$527K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.75	−0.177%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.28	−0.111%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.80	−0.171%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.87	−0.162%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.25	−0.115%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.29	−0.235%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.65	−0.190%	$384K	$40K	10x	as long as short
Binance BNBUSDT	+0.0116%	8h	800.27	−0.112%	$502.6M	$817.5M	75x	as long as short
MEXC BNB_USDT	+0.0116%	8h	800.60	−0.071%	$83.2M	$13.8M	200x	as long as short
Phemex BNBUSDT	+0.0118%	8h	800.16	−0.126%	$69.9M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	800.04	−0.141%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0200%	1h	799.74	−0.179%	$71K	$49K	12x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	800.07	−0.137%	$1.6M	$165K	25x
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.56	−0.201%	$2.6M	$970K	50x	as long as short
BloFin BNB-USDT	+0.0237%	8h	800.61	−0.070%	$18.3M	$2.5M	75x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.489%	$19K	$789K	30x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	800.35	−0.102%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0314%	1h	802.70	+0.191%	$652K	$21K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	799.89	−0.160%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0321%	1h	800.60	−0.071%	$51.8M	$21.9M	10x	as long as short
dYdX BNB-USD	+0.0330%	1h	799.94	−0.154%	$161K	$62K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.22	−0.244%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0581%	1h	800.44	−0.091%	$2.7M	$5.7M	40x	as long as short