Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Coinbase International against edgeX−0.108%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on edgeX Short on Coinbase International

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)−0.074%−$7 · spread now −0.108%, 7d avg −0.082%

Together, before fees−0.191%+ Points / potential airdropedgeX: Active · farm board−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.026% cheaper against edgeX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	806.63	0.0100	pay 0.0050% / 4h	1h 52m	$4.2M	$76.4M	30x
Short	Coinbase International BNB-PERP-INTX	805.76	0.0096	get 0.0012% / 1h	52m 35s	$608K	$882K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$0.84
Price spread: −0.108% → −0.082%: −$2.62
Slippage, 4 orders: −$10.1
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.56
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Coinbase International: live order book, 31 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 edgeX live order book, 2 min ago	1.86 bp	6.4 bp −$6	6.4 bp −$64	9.5 bp −$950	doesn't fit
Sell Coinbase International live order book, 31 min ago	2.42 bp	8.8 bp −$9	15.0 bp −$150	doesn't fit	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 −0.0195% / S +0.0371%	1h	804.57	−0.255%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.50	−0.140%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.78	+0.019%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.60	−0.128%	$107K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.15	−0.183%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.68	−0.242%	$9.8M	—	150x	as long as short
Hibachi BNB/USDT-P	+0.0024%	1h	806.08	−0.068%	$71K	$48K	12x	as long as short
Variational Omni BNB	+0.0044%	8h	805.28	−0.167%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0056%	8h	805.23	−0.173%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	805.06	−0.194%	$139.3M	$82.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.31	−0.164%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0096%	1h	805.76	−0.108%	$608K	$882K	50x
Nado BNB-PERP	+0.0100%	1h	804.97	−0.206%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.22	−0.175%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.20	−0.177%	$55.1M	$116.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.50	−0.140%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.95	−0.208%	$36.2M	$57.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.62	−0.249%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.85	−0.221%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	806.63	long leg	$4.2M	$76.4M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	806.32	−0.038%	$162K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.87	−0.218%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.40	−0.276%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.65	−0.245%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.09	−0.191%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.82	−0.225%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.76	−0.108%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0101%	8h	805.59	−0.129%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.65	−0.245%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.63	−0.248%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.10	−0.066%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.98	−0.080%	$520.4M	$805.9M	75x	as long as short
Hyperliquid BNB	+0.0136%	1h	805.55	−0.134%	$51.8M	$22.0M	10x	as long as short
Phemex BNBUSDT	+0.0140%	8h	805.02	−0.199%	$70.2M	$51.9M	50x	as long as short
SoDEX BNB-USD	+0.0145%	1h	804.50	−0.264%	$396K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0151%	1h	804.38	−0.279%	$162K	$63K	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.95	−0.084%	$173K	$35K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	804.84	−0.221%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	804.45	−0.270%	$2.5M	$933K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.07	−0.193%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0273%	1h	805.26	−0.170%	$650K	$14K	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.191%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.45	−0.147%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.39	−0.278%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0352%	1h	805.97	−0.082%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0710%	1h	805.37	−0.156%	$3.0M	$5.5M	40x	as long as short