Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h +0.104%

Price spread now: dYdX against KuCoin+0.039%7-day average +0.012% · 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−$66as in the Price arb table

costs, in and out, $10k−$680.682% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.444%+$44 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.039%, 7d avg +0.012%

Together, before fees+0.464%+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and dYdX is 0.026% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	804.55	0.0100	pay 0.0100% / 8h	2h 11m	$28.2M	$10.5M	75x
Short	dYdX BNB-USD	804.86	0.0240	get 0.0030% / 1h	11m 36s	$170K	$55K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $29.5
Price spread: +0.039% → +0.012%: $2.65
Slippage, 4 orders: −$46.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$36.08
Costs to cover: 0.682%
Break-even: 15.6 days

Slippage from KuCoin: live order book, 7 min ago; dYdX: live order book, 12 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, 7 min ago	0.37 bp	12.5 bp −$13	22.9 bp −$229	doesn't fit	doesn't fit
Sell dYdX live order book, 12 min ago	12.51 bp	19.7 bp −$20	155.0 bp −$1,550	267.1 bp −$26.7K	529.2 bp −$264.6K

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	804.70	+0.019%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.14	+0.073%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	807.11	+0.318%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.30	+0.093%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.50	+0.118%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.73	+0.022%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.85	+0.037%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0050%	8h	805.71	+0.145%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0055%	8h	804.75	+0.025%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0079%	8h	804.35	−0.025%	$139.6M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	+0.075%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.99	+0.055%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0097%	8h	805.24	+0.086%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.55	0.000%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.95	+0.050%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.60	+0.006%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.30	+0.093%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.70	+0.019%	$36.1M	$59.1M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	804.55	long leg	$28.2M	$10.5M	75x
Bitget BNBUSDT	+0.0100%	8h	804.28	−0.034%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.79	+0.279%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.36	+0.225%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.66	+0.014%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.77	+0.027%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.99	+0.054%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.69	+0.141%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.23	+0.085%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.21	+0.082%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.57	+0.127%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.32	−0.029%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.95	+0.049%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0114%	8h	805.60	+0.131%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0114%	8h	805.42	+0.108%	$520.6M	$806.6M	75x	as long as short
Phoenix BNB	+0.0125%	1h	806.89	+0.291%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0133%	8h	805.43	+0.109%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0193%	1h	804.80	+0.031%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.05	+0.062%	$1.1M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0214%	1h	805.36	+0.101%	$51.9M	$21.9M	10x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.62	+0.133%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USDshort	+0.0240%	1h	804.86	+0.039%	$170K	$55K	10x
Hibachi BNB/USDT-P	+0.0256%	1h	805.19	+0.080%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.102%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.47	−0.010%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.77	+0.152%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.042%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0651%	1h	805.79	+0.154%	$3.0M	$5.5M	40x	as long as short