Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.026%

Price spread now: GRVT against Coinbase International+0.288%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 3 days (all we have)−0.177%−$18 · spread now +0.288%, 7d avg +0.103%

Together, before fees−0.085%+ Points / potential airdropGRVT: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.186% dearer against Coinbase International than usual: you sell high and buy low (spread +0.288% now, against its 7-day average of +0.103%): +$19 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 52 days. Mind the row above: over the last 7 days funding on this pair paid +0.092%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	791.17	0.0056	pay 0.0007% / 1h	30m 57s	$607K	$1.1M	50x
Short	GRVT BNB_USDT_Perp	793.45	0.0044	get 0.0044% / 8h	6h 30m	$3.0M	$28.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.288%Rate

Funding earned: −$2.52
Price spread: +0.288% → +0.103%: $18.57
Slippage, 4 orders: −$8.64
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$11.59
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; GRVT: live order book, 3 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, 3 min ago	3.22 bp	8.4 bp −$8	14.2 bp −$142	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	0.06 bp	4.6 bp −$5	6.3 bp −$63	23.0 bp −$2,296	doesn't fit

BNB on 45 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	793.74	+0.324%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.65	+0.313%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.96	+0.353%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	794.76	+0.454%	$859K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.73	+0.324%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0025%	8h	793.33	+0.273%	$4.1M	$4.9M	—	as long as short
Gate BNB_USDT	+0.0029%	8h	793.80	+0.332%	$35.4M	$55.8M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.759%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	794.46	+0.416%	$6.1M	$19.7M	200x	as long as short
GRVT BNB_USDT_Perpshort	+0.0044%	8h	793.45	+0.288%	$3.0M	$28.8M	10x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDT	+0.0048%	8h	794.00	+0.358%	—	$34.9M	—	as long as short
Phemex BNBUSDT	+0.0056%	8h	794.31	+0.397%	$69.5M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0056%	1h	791.17	long leg	$607K	$1.1M	50x
MEXC BNB_USDT	+0.0063%	8h	794.60	+0.434%	$82.4M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	794.43	+0.412%	$494.3M	$812.0M	75x	as long as short
dYdX BNB-USD	+0.0064%	1h	793.98	+0.355%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	793.37	+0.278%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.82	+0.334%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.64	+0.312%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.35	+0.276%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.18	+0.380%	$52.0M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	793.88	+0.343%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.75	+0.326%	$138.4M	$76.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.80	+0.332%	$53.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.90	+0.345%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.57	+0.303%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.59	+0.306%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.22	+0.259%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.21	+0.258%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.72	+0.322%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.91	+0.346%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.00	+0.358%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.90	+0.345%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.32	+0.271%	$8.1M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.90	+0.345%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.41	+0.283%	$1.7M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.84	+0.337%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.85	+0.338%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	793.70	+0.320%	$111K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0175%	1h	792.60	+0.181%	$642K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	794.30	+0.396%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.51	+0.296%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0394%	1h	794.47	+0.417%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	794.26	+0.391%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	794.41	+0.409%	$68K	$38K	12x	as long as short