Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.013%

Price spread now: Coinbase International against MEXC−0.101%7-day average −0.193% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 3 days (all we have)−0.287%−$29 · spread now −0.101%, 7d avg −0.193%

Together, before fees−0.335%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.092% dearer against MEXC than usual: you sell high and buy low (spread −0.101% now, against its 7-day average of −0.193%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	805.00	0.0106	pay 0.0106% / 8h	2h 29m	$84.4M	$13.6M	200x
Short	Coinbase International BNB-PERP-INTX	804.19	0.0088	get 0.0011% / 1h	29m 45s	$609K	$878K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$3.78
Price spread: −0.101% → −0.193%: $9.19
Slippage, 4 orders: −$11.63
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.22
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Coinbase International: live order book, 58 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 MEXC live order book, 4 min ago	0.62 bp	3.5 bp −$3	6.3 bp −$63	23.8 bp −$2,376	41.7 bp −$20.8K
Sell Coinbase International live order book, 58 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	803.78	−0.152%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.19	−0.101%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.90	−0.137%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.60	−0.050%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.20	−0.099%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.86	−0.142%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.90	−0.136%	$2.5M	$909K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	803.71	−0.160%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0054%	8h	804.18	−0.102%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0075%	8h	803.54	−0.181%	$139.3M	$82.8M	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-INTXshort	+0.0088%	1h	804.19	−0.101%	$609K	$878K	50x
Aster BNBUSDT	+0.0090%	8h	804.51	−0.061%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	804.19	−0.101%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.88	−0.139%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.19	−0.101%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.90	−0.137%	$55.1M	$115.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.30	−0.087%	$53K	$165K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	803.80	−0.149%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.87	−0.140%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.67	−0.165%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.49	−0.063%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.32	−0.084%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.74	−0.157%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	803.87	−0.140%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.97	−0.128%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.80	−0.025%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.31	−0.086%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.07	−0.116%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.69	−0.039%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.64	−0.170%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.04	−0.120%	$386K	$40K	10x	as long as short
MEXC BNB_USDTlong	+0.0106%	8h	805.00	long leg	$84.4M	$13.6M	200x
Binance BNBUSDT	+0.0107%	8h	804.60	−0.049%	$519.1M	$803.1M	75x	as long as short
Phemex BNBUSDT	+0.0125%	8h	804.52	−0.060%	$70.2M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.93	−0.133%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0160%	1h	804.59	−0.051%	$51.7M	$21.3M	10x	as long as short
SoDEX BNB-USD	+0.0175%	1h	803.90	−0.137%	$395K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0197%	1h	804.34	−0.082%	$650K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.38	−0.076%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0226%	8h	804.88	−0.015%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	804.11	−0.111%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0272%	1h	804.28	−0.089%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	804.86	−0.017%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.52	−0.184%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	−0.010%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0657%	1h	804.80	−0.025%	$3.0M	$5.4M	40x	as long as short