Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.007%

Price spread now: Coinbase International against Gate+0.033%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.171%−$17 · spread now +0.033%, 7d avg +0.001%

Together, before fees−0.223%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.032% dearer against Gate than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of +0.001%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	784.50	0.0100	pay 0.0100% / 8h	2h 40m	$36.1M	$58.1M	75x
Short	Coinbase International BNB-PERP-INTX	784.76	0.0080	get 0.0010% / 1h	40m 37s	$576K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$4.2
Price spread: +0.033% → +0.001%: $3.21
Slippage, 4 orders: −$12.36
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.35
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 3 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 Gate live order book, 3 min ago	0.32 bp	10.3 bp −$10	13.1 bp −$131	30.7 bp −$3,067	61.8 bp −$30.9K
Sell Coinbase International live order book, 3 min ago	2.67 bp	9.0 bp −$9	11.9 bp −$119	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 −0.0192% / S +0.0356%	1h	784.63	+0.017%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.89	+0.050%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.60	+0.140%	$847K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.70	+0.025%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	785.10	+0.076%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.625%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	784.65	+0.019%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	785.50	+0.127%	$79.6M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	785.05	+0.070%	$488.8M	$807.4M	75x	as long as short
Phemex BNBUSDT	+0.0052%	8h	785.23	+0.093%	$68.7M	$50.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0057%	1h	784.38	−0.015%	$159K	$61K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.58	+0.010%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0080%	1h	784.76	+0.033%	$576K	$1.9M	50x
Lighter BNB	+0.0096%	1h	784.64	+0.018%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.76	+0.033%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	−0.006%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.21	+0.091%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.73	+0.029%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.50	0.000%	$137.6M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	+0.013%	$53.2M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.70	+0.025%	$52K	$129K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	784.50	long leg	$36.1M	$58.1M	75x
KuCoin BNBUSDTM	+0.0100%	8h	784.39	−0.014%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.07	−0.055%	$75.9M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.05	+0.070%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	−0.009%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.49	+0.254%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.30	+0.229%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.65	+0.019%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.98	+0.061%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.46	+0.122%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.80	+0.038%	$386K	$996K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	785.11	+0.078%	$1.5M	$143K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.26	−0.031%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.02	+0.067%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.14	−0.046%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.77	+0.034%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.15	+0.338%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0134%	8h	785.60	+0.140%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	785.09	+0.075%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	787.62	+0.398%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.221%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	785.08	+0.074%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.51	+0.001%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.80	+0.039%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	785.71	+0.154%	$67K	$39K	12x	as long as short