Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.002%

Price spread now: Orderly against Coinbase International−0.153%7-day average +0.050% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 3 days (all we have)+0.184%+$18 · spread now −0.153%, 7d avg +0.050%

Together, before fees+0.301%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.202% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.153% now, against its 7-day average of +0.050%). If the spread goes back, that is −$20 on $10k: about 56 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.117% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	803.99	0.0088	pay 0.0011% / 1h	44m 49s	$608K	$888K	50x
Short	Orderly PERP_BNB_USDC	802.76	0.0100	get 0.0100% / 8h	2h 44m	$388K	$593K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.153%Rate

Funding earned: $2.52
Price spread: −0.153% → +0.050%: −$20.25
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$33.73
Costs to cover: 0.160%
Break-even: 100.7 days

Slippage unknown: Coinbase International: live order book, 43 min ago; Orderly: no order-book sample. Net counts fees only.

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, 43 min ago	3.05 bp	9.7 bp −$10	14.2 bp −$142	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0195% / S +0.0371%	1h	802.75	−0.154%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.10	−0.111%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.06	−0.116%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.30	−0.086%	$122K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.70	−0.036%	$869K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.78	−0.150%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.71	−0.159%	$2.5M	$910K	50x	as long as short
Variational Omni BNB	+0.0059%	8h	802.25	−0.216%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0068%	8h	802.61	−0.172%	—	$34.6M	—	as long as short
Aster BNBUSDT	+0.0086%	8h	803.30	−0.086%	$6.3M	$18.8M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTXlong	+0.0088%	1h	803.99	long leg	$608K	$888K	50x
Bybit BNBUSDT	+0.0089%	8h	802.00	−0.248%	$138.7M	$82.6M	75x	as long as short
Lighter BNB	+0.0096%	1h	802.79	−0.149%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.23	−0.219%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.76	−0.153%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.185%	$54.9M	$115.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.80	−0.148%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.35	−0.204%	$35.9M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.39	−0.199%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.13	−0.231%	$78.9M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.30	−0.086%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.77	−0.152%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.58	−0.175%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	802.76	−0.153%	$388K	$593K	50x
Derive BNB-PERP	+0.0100%	1h	802.91	−0.135%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.33	−0.082%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	802.80	−0.148%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.24	−0.093%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.95	−0.130%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.27	−0.089%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	803.60	−0.049%	$84.4M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0102%	8h	803.23	−0.095%	$518.1M	$803.6M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	802.22	−0.220%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.02	−0.120%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0119%	8h	803.35	−0.080%	$70.1M	$51.6M	50x	as long as short
Phoenix BNB	+0.0125%	1h	802.98	−0.126%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0156%	1h	803.18	−0.101%	$51.6M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0161%	1h	803.45	−0.067%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	802.89	−0.137%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0222%	1h	803.00	−0.123%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0222%	8h	803.39	−0.075%	$18.8M	$3.0M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.84	−0.142%	$71K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	803.36	−0.078%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	802.37	−0.202%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.116%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0697%	1h	803.77	−0.027%	$3.0M	$5.3M	40x	as long as short