Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.007%

Price spread now: MEXC against Coinbase International+0.039%7-day average +0.186% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+0.449%+$45 · spread now +0.039%, 7d avg +0.186%

Together, before fees+0.502%+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.147% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.186%). If the spread goes back, that is −$15 on $10k: about 19 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	789.09	0.0048	pay 0.0006% / 1h	40m 48s	$618K	$1.8M	50x
Short	MEXC BNB_USDT	789.40	0.0074	get 0.0074% / 8h	5h 40m	$80.3M	$12.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.039%Rate

Funding earned: $5.46
Price spread: +0.039% → +0.186%: −$14.69
Slippage, 4 orders: −$11.92
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$35.15
Costs to cover: 0.259%
Break-even: 52.1 days

Slippage from Coinbase International: live order book, 3 min ago; MEXC: live order book, 8 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	2.03 bp	9.4 bp −$9	14.8 bp −$148	doesn't fit	doesn't fit
Sell MEXC live order book, 8 min ago	0.63 bp	3.5 bp −$4	6.8 bp −$68	16.5 bp −$1,648	30.3 bp −$15.1K

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	787.73	−0.173%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.48	−0.077%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.22	+0.143%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	787.79	−0.164%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.028%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	788.60	−0.062%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0048%	1h	789.09	long leg	$618K	$1.8M	50x
BingX BNB-USDC	+0.0055%	8h	788.60	−0.062%	—	$13.4M	—	as long as short
MEXC BNB_USDTshort	+0.0074%	8h	789.40	+0.039%	$80.3M	$12.4M	200x
Binance BNBUSDT	+0.0075%	8h	789.03	−0.008%	$493.4M	$806.3M	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	+0.0084%	8h	788.24	−0.108%	$69.0M	$51.0M	50x	as long as short
Variational Omni BNB	+0.0086%	8h	787.60	−0.189%	$4.1M	$4.6M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	787.62	−0.186%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.85	−0.157%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.73	−0.172%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	−0.138%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.41	−0.086%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.18	−0.116%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.31	−0.099%	$138.6M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	−0.087%	$53.5M	$112.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	−0.100%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.35	−0.094%	$35.3M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.97	−0.142%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.28	−0.103%	$76.8M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.09	−0.127%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.32	+0.029%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.87	−0.028%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.91	−0.150%	$137K	$946K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.96	−0.144%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.57	−0.066%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.36	−0.092%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	788.64	−0.058%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.98	−0.141%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.72	−0.174%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	789.13	+0.005%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0132%	8h	789.50	+0.052%	$2.9M	$28.2M	10x	as long as short
SoDEX BNB-USD	+0.0149%	1h	787.80	−0.163%	$387K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0186%	8h	788.50	−0.075%	$95K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	788.40	−0.087%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0241%	1h	788.16	−0.118%	$159K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.11	−0.124%	$1.5M	$152K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.47	−0.079%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.69	−0.177%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.37	−0.092%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.131%	$638K	$13K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	789.66	+0.072%	$67K	$38K	12x	as long as short