Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0163%/8h= −17.8% APRpaid last 24h −0.102%

Price spread now: KuCoin against dYdX−0.012%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.447%−$45 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.012%, 7d avg −0.013%

Together, before fees−0.458%−$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	799.57	0.0263	pay 0.0033% / 1h	36m 42s	$161K	$63K	10x
Short	KuCoin BNBUSDTM	799.48	0.0100	get 0.0100% / 8h	7h 36m	$28.0M	$10.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against dYdX. 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 dYdXbpFee KuCoinbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$34.2
Price spread: −0.012% → −0.013%: $0.19
Slippage, 4 orders: −$35.19
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$91.2
Costs to cover: 0.572%
Break-even: never at this rate

Slippage from dYdX: live order book, 37 min ago; KuCoin: live order book, 2 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 dYdX live order book, 37 min ago	9.69 bp	16.2 bp −$16	22.8 bp −$228	30.3 bp −$3,031	97.5 bp −$48.7K
Sell KuCoin live order book, 2 min ago	0.44 bp	9.7 bp −$10	14.3 bp −$143	46.1 bp −$4,615	doesn't fit

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 −0.0201% / S +0.0372%	1h	799.35	−0.028%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	799.20	−0.046%	$2.5M	$974K	50x	as long as short
BingX BNB-USDC	−0.0094%	8h	799.95	+0.047%	—	$13.3M	—	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.42	−0.019%	$4K	$239	25x	as long as short
Bybit BNBUSDT	−0.0046%	8h	799.35	−0.028%	$138.8M	$75.6M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.67	+0.012%	$3.0M	$27.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.07	+0.062%	$865K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	799.87	+0.037%	$69.9M	$50.5M	50x	as long as short
Variational Omni BNB	+0.0005%	8h	798.83	−0.093%	$4.1M	$5.3M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.35	−0.028%	$9.7M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.690%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.00	−0.197%	$601K	$969K	50x	as long as short
Aster BNBUSDT	+0.0065%	8h	800.19	+0.077%	$6.2M	$19.1M	200x	as long as short
Binance BNBUSDT	+0.0087%	8h	800.04	+0.059%	$496.7M	$807.4M	75x	as long as short
MEXC BNB_USDT	+0.0087%	8h	800.60	+0.129%	$83.2M	$13.5M	200x	as long as short
Gate BNB_USDT	+0.0092%	8h	799.45	−0.015%	$35.7M	$56.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.82	+0.031%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.23	−0.043%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.73	−0.106%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.31	−0.033%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.60	+0.003%	$54.2M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.30	−0.034%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	799.48	−0.012%	$28.0M	$10.0M	75x
Bitget BNBUSDT	+0.0100%	8h	799.38	−0.024%	$78.9M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.78	+0.026%	$4.2M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.89	+0.040%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.21	−0.045%	$118K	$871K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.26	−0.039%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.46	−0.014%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.84	+0.034%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.60	+0.003%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.44	−0.017%	$8.2M	$8.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.80	+0.028%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.28	−0.036%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.38	−0.024%	$384K	$108K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.69	+0.014%	$649K	$10K	10x	as long as short
Hibachi BNB/USDT-P	+0.0144%	1h	798.96	−0.077%	$69K	$37K	12x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.15	−0.052%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	799.60	+0.003%	$90K	$2.8M	4.8x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.80	+0.028%	$1.6M	$160K	25x	as long as short
BloFin BNB-USDT	+0.0207%	8h	799.67	+0.012%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	799.65	+0.010%	$28K	$1K	10x	as long as short
dYdX BNB-USDlong	+0.0263%	1h	799.57	long leg	$161K	$63K	10x
Hyperliquid BNB	+0.0317%	1h	800.51	+0.117%	$53.2M	$20.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.90	−0.084%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0398%	1h	800.43	+0.107%	$2.7M	$5.6M	40x	as long as short