Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.005%

Price spread now: Coinbase International against KuCoin+0.055%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)−0.265%−$26 · spread now +0.055%, 7d avg −0.002%

Together, before fees−0.346%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.057% dearer against KuCoin than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of −0.002%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	788.66	0.0100	pay 0.0100% / 8h	5h 36m	$27.7M	$10.3M	75x
Short	Coinbase International BNB-PERP-INTX	789.09	0.0048	get 0.0006% / 1h	36m 38s	$618K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$10.92
Price spread: +0.055% → −0.002%: $5.69
Slippage, 4 orders: −$20.57
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$47.8
Costs to cover: 0.426%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Coinbase International: 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 KuCoin live order book, 2 min ago	0.51 bp	10.9 bp −$11	18.9 bp −$189	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.60 bp	9.8 bp −$10	15.2 bp −$152	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 −0.0167% / S +0.0335%	1h	788.75	+0.012%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.96	+0.038%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.05	+0.049%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.77	+0.014%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.083%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	789.51	+0.107%	$6.3M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0048%	1h	789.09	+0.055%	$618K	$1.8M	50x
BingX BNB-USDT	+0.0058%	8h	789.09	+0.055%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0068%	8h	789.35	+0.087%	$69.1M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0074%	8h	790.00	+0.170%	$80.3M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0075%	8h	789.41	+0.095%	$493.5M	$804.8M	75x	as long as short
Variational Omni BNB	+0.0086%	8h	787.60	−0.135%	$4.1M	$4.6M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.64	−0.002%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.25	+0.075%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.79	+0.016%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.80	+0.018%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.27	+0.078%	$51.7M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.26	+0.077%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.80	+0.018%	$138.7M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.80	+0.018%	$53.5M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.20	+0.068%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.80	+0.018%	$35.3M	$56.9M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	788.66	long leg	$27.7M	$10.3M	75x
Bitget BNBUSDT	+0.0100%	8h	788.84	+0.023%	$76.9M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.20	+0.068%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.57	−0.011%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.03	+0.047%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.76	+0.013%	$135K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.03	+0.047%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.89	+0.029%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.04	+0.048%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.66	+0.126%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.68	+0.003%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.86	+0.026%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.63	−0.004%	$169K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.15	+0.062%	$2.9M	$28.2M	10x	as long as short
SoDEX BNB-USD	+0.0141%	1h	788.80	+0.018%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	788.90	+0.030%	$96K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	789.53	+0.110%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0236%	1h	788.84	+0.023%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	789.53	+0.110%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.60	−0.008%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.34	+0.086%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.077%	$638K	$13K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.24	+0.074%	$1.5M	$147K	25x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	788.66	−0.001%	$67K	$38K	12x	as long as short