Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.005%

Price spread now: Gate against Coinbase International+0.081%7-day average −0.001% · 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−$370.373% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now +0.081%, 7d avg −0.001%

Together, before fees+0.170%+$17 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 Gate is 0.082% dearer against Coinbase International than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	787.61	0.0048	pay 0.0006% / 1h	44m 48s	$617K	$1.8M	50x
Short	Gate BNB_USDT	788.25	0.0094	get 0.0094% / 8h	5h 44m	$35.3M	$56.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.081%Rate

Funding earned: $9.66
Price spread: +0.081% → −0.001%: $8.22
Slippage, 4 orders: −$12.31
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$19.43
Costs to cover: 0.373%
Break-even: 21.1 days

Slippage from Coinbase International: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	2.03 bp	8.1 bp −$8	13.3 bp −$133	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.32 bp	9.1 bp −$9	11.6 bp −$116	27.4 bp −$2,736	55.3 bp −$27.7K

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 −0.0167% / S +0.0335%	1h	788.14	+0.068%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.81	+0.025%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.83	+0.155%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.16	+0.069%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.219%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	789.31	+0.216%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0048%	1h	787.61	long leg	$617K	$1.8M	50x
BingX BNB-USDT	+0.0057%	8h	788.48	+0.110%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0071%	8h	789.40	+0.227%	$80.2M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0072%	8h	788.83	+0.155%	$493.5M	$807.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.89	+0.163%	$69.1M	$51.1M	50x	as long as short
Variational Omni BNB	+0.0078%	8h	787.81	+0.026%	$4.1M	$4.7M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.42	+0.102%	$2.5M	$1.2M	50x	as long as short
Gate BNB_USDTshort	+0.0094%	8h	788.25	+0.081%	$35.3M	$56.8M	75x
Lighter BNB	+0.0096%	1h	788.57	+0.121%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.38	+0.098%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.85	+0.030%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.88	+0.161%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.88	+0.034%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	+0.062%	$138.6M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.30	+0.088%	$53.5M	$112.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	+0.100%	$52K	$130K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.41	+0.102%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.04	+0.055%	$76.8M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.87	+0.160%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.59	+0.124%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.14	+0.194%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.14	+0.067%	$137K	$944K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.61	+0.127%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.99	+0.175%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.38	+0.098%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	788.73	+0.142%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.30	+0.087%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.21	+0.076%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.34	+0.093%	$169K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0122%	8h	788.59	+0.125%	$2.9M	$28.3M	10x	as long as short
SoDEX BNB-USD	+0.0151%	1h	788.50	+0.113%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	788.30	+0.088%	$89K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0192%	8h	789.08	+0.187%	—	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0247%	1h	788.26	+0.082%	$159K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	788.85	+0.157%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.05	+0.056%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.56	+0.121%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	+0.056%	$638K	$13K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	788.94	+0.169%	$1.5M	$152K	25x	as long as short
Hibachi BNB/USDT-P	+0.0576%	1h	788.46	+0.108%	$67K	$38K	12x	as long as short