Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.007%

Price spread now: KuCoin against Coinbase International−0.162%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$8 on $10k

Price spread, last 4 days (all we have)+0.373%+$37 · spread now −0.162%, 7d avg −0.003%

Together, before fees+0.457%+$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and KuCoin is 0.160% cheaper against Coinbase International than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.003%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.085%, 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	788.70	0.0120	pay 0.0015% / 1h	8m 00s	$551K	$2.0M	50x
Short	KuCoin BNBUSDTM	787.42	0.0100	get 0.0100% / 8h	7h 08m	$27.8M	$9.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$4.2
Price spread: −0.162% → −0.003%: −$15.97
Slippage, 4 orders: −$16.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$58.61
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; KuCoin: live order book, 11 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, 1 min ago	1.71 bp	7.7 bp −$8	15.0 bp −$150	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	0.76 bp	13.6 bp −$14	22.5 bp −$225	doesn't fit	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 −0.0166% / S +0.0336%	1h	787.73	−0.123%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.62	−0.010%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	787.58	−0.142%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	789.12	+0.054%	$3.0M	$26.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	788.82	+0.015%	$851K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.25	−0.057%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0013%	8h	788.18	−0.066%	$6.0M	$17.8M	200x	as long as short
BingX BNB-USDC	+0.0027%	8h	788.24	−0.058%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0031%	8h	788.32	−0.048%	$485.4M	$799.3M	75x	as long as short
MEXC BNB_USDT	+0.0032%	8h	789.50	+0.101%	$83.0M	$12.4M	200x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.078%	$19K	$789K	30x	as long as short
Lighter BNB	+0.0096%	1h	787.81	−0.113%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.15	−0.070%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.41	−0.037%	$51.8M	$17.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.52	−0.022%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.75	−0.120%	$138.9M	$71.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.70	−0.127%	$53.7M	$108.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	−0.038%	$52K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.80	−0.114%	$39.9M	$56.7M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	787.42	−0.162%	$27.8M	$9.7M	75x
Bitget BNBUSDT	+0.0100%	8h	787.28	−0.180%	$75.7M	$32.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.13	−0.072%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.32	−0.048%	$4.3M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.97	+0.034%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.10	−0.076%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.93	−0.098%	$130K	$917K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.76	−0.119%	$265K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.64	−0.007%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.90	−0.101%	$387K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.41	−0.036%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.52	−0.022%	$88K	$47K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.30	−0.178%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.68	−0.129%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0105%	8h	788.30	−0.051%	$161K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0120%	1h	788.70	long leg	$551K	$2.0M	50x
Phoenix BNB	+0.0120%	1h	788.61	−0.011%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0129%	8h	788.81	+0.014%	$17.7M	$2.3M	75x	as long as short
Phemex BNBUSDT	+0.0136%	8h	788.30	−0.051%	$68.6M	$51.4M	50x	as long as short
Bulk BNB-USD	+0.0150%	1h	788.74	+0.005%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.09	−0.077%	$1.5M	$138K	25x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	788.55	−0.019%	$28K	$3K	10x	as long as short
dYdX BNB-USD	+0.0257%	1h	788.17	−0.068%	$158K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	787.70	−0.127%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	788.46	−0.030%	$1.1M	$890K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	788.32	−0.048%	$67K	$39K	12x	as long as short