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: Coinbase International against HTX+0.147%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$11 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now +0.147%, 7d avg −0.003%

Together, before fees−0.203%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.150% dearer against HTX than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of −0.003%): +$15 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 42 days. At the pace of the last 7 days (−0.115% in total) that is about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	804.06	0.0100	pay 0.0100% / 8h	2h 54m	$8.2M	$7.3M	75x
Short	Coinbase International BNB-PERP-INTX	805.24	0.0088	get 0.0011% / 1h	54m 27s	$609K	$899K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$2.52
Price spread: +0.147% → −0.003%: $15.03
Slippage, 4 orders: −$13.96
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$23.45
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Coinbase International: live order book, 34 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 HTX live order book, 5 min ago	1.06 bp	7.1 bp −$7	10.3 bp −$103	43.6 bp −$4,364	doesn't fit
Sell Coinbase International live order book, 34 min ago	3.05 bp	8.6 bp −$9	14.0 bp −$140	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	804.24	+0.022%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.95	−0.138%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.31	+0.032%	$3.0M	$30.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.30	+0.030%	$110K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	−0.017%	$869K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.21	+0.019%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.22	+0.020%	$2.5M	$917K	50x	as long as short
Variational Omni BNB	+0.0068%	8h	803.35	−0.089%	$4.1M	$5.3M	—	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0088%	1h	805.24	+0.147%	$609K	$899K	50x
Aster BNBUSDT	+0.0089%	8h	803.57	−0.061%	$6.3M	$18.9M	200x	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	803.55	−0.064%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.24	−0.226%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.26	−0.099%	$1.2M	$923K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	801.94	−0.263%	$138.9M	$83.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.20	−0.231%	$54.9M	$115.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.70	−0.169%	$52K	$191K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.35	−0.212%	$35.9M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.30	−0.094%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.97	−0.260%	$78.9M	$24.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.49	+0.054%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.95	−0.013%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.26	−0.224%	$118K	$869K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.35	+0.036%	$389K	$595K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.48	+0.053%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.73	+0.083%	$13K	$1.7M	50x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	804.06	long leg	$8.2M	$7.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	803.32	−0.092%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	803.90	−0.020%	$84.4M	$13.5M	200x	as long as short
BingX BNB-USDC	+0.0102%	8h	803.46	−0.074%	—	$13.3M	—	as long as short
Binance BNBUSDT	+0.0102%	8h	802.85	−0.150%	$517.9M	$807.5M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	801.97	−0.259%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.49	+0.054%	$386K	$40K	10x	as long as short
Phoenix BNB	+0.0110%	1h	805.11	+0.131%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0112%	1h	804.40	+0.043%	$396K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0115%	8h	804.88	+0.102%	$70.2M	$51.8M	50x	as long as short
Bulk BNB-USD	+0.0140%	1h	805.09	+0.128%	$650K	$11K	10x	as long as short
Hyperliquid BNB	+0.0181%	1h	803.02	−0.129%	$51.6M	$21.3M	10x	as long as short
dYdX BNB-USD	+0.0195%	1h	803.01	−0.130%	$170K	$55K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	802.82	−0.154%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0222%	8h	804.78	+0.090%	$18.9M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	803.60	−0.057%	$71K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	804.35	+0.036%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	804.82	+0.094%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	802.10	−0.244%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.107%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0656%	1h	805.34	+0.159%	$3.0M	$5.3M	40x	as long as short