Funding you earn now, next payment 23:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.002%
Price spread now: Coinbase International against Orderly−0.192%7-day average −0.049% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.117%−$12 on $10k
+Price spread, last 3 days (all we have)+0.120%+$12 · spread now −0.192%, 7d avg −0.049%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.143% cheaper against Orderly than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.049%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BNB_USDC | 802.26 | 0.0100 | pay 0.0100% / 8h | 56m 51s | $388K | $489K | 50x |
| Short | Coinbase International BNB-PERP-INTX | 800.72 | 0.0072 | get 0.0009% / 1h | 56m 51s | $607K | $998K | 50x |
Orderly PERP_BNB_USDC
Coinbase International BNB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5.88
- Price spread: −0.192% → −0.049%
- −$14.3
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$36.18
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 22 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 22 min ago | 3.62 bp | 10.0 bp −$10 | 14.6 bp −$146 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 −0.0201% / S +0.0372% | 1h | 802.22 | −0.005% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 802.34 | +0.010% | $4K | $1K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0074% | 1h | 802.20 | −0.008% | $2.6M | $969K | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 800.99 | −0.159% | $3.0M | $28.4M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 803.02 | +0.095% | $868K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 802.23 | −0.003% | $9.8M | — | 150x | as long as short |
| Variational Omni BNB | +0.0031% | 8h | 800.04 | −0.276% | $4.2M | $5.4M | — | as long as short |
| BingX BNB-USDC | +0.0052% | 8h | 802.06 | −0.025% | — | $13.3M | — | as long as short |
| Bybit BNBUSDT | +0.0066% | 8h | 801.73 | −0.066% | $139.3M | $78.6M | 75x | as long as short |
| Coinbase International BNB-PERP-INTXshort | +0.0072% | 1h | 800.72 | −0.192% | $607K | $998K | 50x |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDC
Bybit BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BNB | +0.0096% | 1h | 802.40 | +0.018% | $2.8M | $4.1M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 801.67 | −0.074% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 802.08 | −0.022% | $1.2M | $926K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 801.80 | −0.057% | $54.8M | $113.8M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 802.30 | +0.005% | $53K | $134K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 801.75 | −0.064% | $35.8M | $57.4M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 801.88 | −0.047% | $28.0M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 801.69 | −0.071% | $79.7M | $27.3M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 801.60 | −0.083% | $4.2M | $77.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 801.48 | −0.097% | $161K | $442K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 802.00 | −0.032% | $119K | $874K | 10x | as long as short |
| Orderly PERP_BNB_USDClong | +0.0100% | 8h | 802.26 | long leg | $388K | $489K | 50x | |
| Derive BNB-PERP | +0.0100% | 1h | 802.43 | +0.021% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 802.93 | +0.083% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 802.16 | −0.012% | $8.2M | $7.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 802.55 | +0.036% | $78K | $19K | 50x | as long as short |
| Aster BNBUSDT | +0.0101% | 8h | 802.61 | +0.044% | $6.4M | $19.0M | 200x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 801.58 | −0.084% | $1.9M | $6.4M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 802.53 | +0.033% | $386K | $40K | 10x | as long as short |
| Phemex BNBUSDT | +0.0114% | 8h | 802.81 | +0.069% | $70.2M | $51.1M | 50x | as long as short |
| Kalshi KXBNBPERP | +0.0117% | 8h | 802.40 | +0.017% | $109K | $2.9M | 4.8x | as long as short |
| MEXC BNB_USDT | +0.0120% | 8h | 803.00 | +0.092% | $83.5M | $13.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0122% | 8h | 802.77 | +0.064% | $502.4M | $819.4M | 75x | as long as short |
| Phoenix BNB | +0.0155% | 1h | 800.77 | −0.186% | $172K | $34K | 10x | as long as short |
| BloFin BNB-USDT | +0.0242% | 8h | 802.83 | +0.071% | $18.2M | $2.5M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0248% | 1h | 801.96 | −0.037% | $71K | $49K | 12x | as long as short |
| SoDEX BNB-USD | +0.0254% | 1h | 802.30 | +0.005% | $394K | $1.0M | 10x | as long as short |
| RISEx BNB/USDC | +0.0258% | 1h | 802.09 | −0.022% | $1.1M | $1.4M | 20x | as long as short |
| Bulk BNB-USD | +0.0289% | 1h | 801.15 | −0.138% | $651K | $20K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 802.74 | +0.059% | $1.6M | $165K | 25x | as long as short |
| Injective BNB/USDC PERP | +0.0306% | 1h | 805.09 | +0.353% | $19K | $789K | 30x | as long as short |
| Hyperliquid BNB | +0.0323% | 1h | 802.78 | +0.065% | $51.9M | $21.6M | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0332% | 1h | 802.48 | +0.027% | $2.7M | $5.7M | 40x | as long as short |
| Reya BNBRUSDPERP | +0.0332% | 1h | 801.71 | −0.068% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0432% | 1h | 802.89 | +0.079% | $28K | $1K | 10x | as long as short |
| dYdX BNB-USD | +0.0465% | 1h | 802.23 | −0.004% | $162K | $62K | 10x | as long as short |
Lighter BNB
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Aster BNBUSDT
Extended BNB-USD
Aevo BNB-PERP
Phemex BNBUSDT
Kalshi KXBNBPERP
MEXC BNB_USDT
Binance BNBUSDT
Phoenix BNB
BloFin BNB-USDT
Hibachi BNB/USDT-P
SoDEX BNB-USD
RISEx BNB/USDC
Bulk BNB-USD
Deribit BNB_USDC-PERPETUAL
Injective BNB/USDC PERP
Hyperliquid BNB
Backpack BNB_USDC_PERP
Reya BNBRUSDPERP
01 Exchange BNBUSD
dYdX BNB-USD