Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.028%

Price spread now: Deribit against KuCoin+0.073%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.073%, 7d avg +0.055%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	786.37	0.0100	pay 0.0100% / 8h	1h 33m	$27.7M	$10.2M	75x
Short	Deribit BNB_USDC-PERPETUAL	786.94	0.0200	get 0.0025% / 1h	33m 10s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.073%Rate

Funding earned: $21
Price spread: +0.073% → +0.055%: $1.8
Slippage, 4 orders: −$18.82
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$15.02
Costs to cover: 0.378%
Break-even: 12.0 days

Slippage from KuCoin: live order book, 6 min ago; Deribit: live order book, 1 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, 6 min ago	0.45 bp	13.3 bp −$13	19.8 bp −$198	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	2.61 bp	7.4 bp −$7	13.0 bp −$130	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 −0.0170% / S +0.0337%	1h	785.92	−0.057%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.27	−0.013%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.56	+0.024%	$848K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.58	+0.027%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.381%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0050%	8h	787.20	+0.106%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0052%	8h	786.86	+0.062%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.80	+0.182%	$81.1M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	787.30	+0.118%	$490.5M	$814.4M	75x	as long as short
dYdX BNB-USD	+0.0071%	1h	785.68	−0.088%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0077%	8h	787.29	+0.117%	$68.8M	$50.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.065%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.85	+0.061%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.75	−0.079%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.20	+0.105%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.33	−0.005%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	+0.017%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	+0.017%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	+0.017%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.65	+0.036%	$37.3M	$59.0M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	786.37	long leg	$27.7M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	786.61	+0.031%	$76.1M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.14	+0.098%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.51	−0.109%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.54	+0.022%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.24	−0.017%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.41	+0.005%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.45	+0.010%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.043%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.45	+0.011%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	+0.042%	$387K	$982K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.68	+0.040%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.03	+0.084%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.16	−0.027%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.56	+0.024%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0134%	8h	786.80	+0.055%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	786.26	−0.014%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0184%	8h	787.22	+0.108%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	786.94	+0.073%	$1.5M	$143K	25x
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.63	+0.033%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0228%	8h	786.80	+0.055%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	786.90	+0.067%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.091%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.21	−0.021%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.60	+0.029%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.20	−0.022%	$67K	$39K	12x	as long as short