Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

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 SunX−0.069%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$660.662% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 3 days (all we have)−0.054%−$5 · spread now −0.069%, 7d avg −0.092%

Together, before fees−0.171%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.023% dearer against SunX than usual: you sell high and buy low (spread −0.069% now, against its 7-day average of −0.092%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	800.44	0.0100	pay 0.0100% / 8h	31m 31s	$13K	$1.7M	50x
Short	Coinbase International BNB-PERP-INTX	799.89	0.0072	get 0.0009% / 1h	31m 31s	$606K	$993K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$5.88
Price spread: −0.069% → −0.092%: $2.26
Slippage, 4 orders: −$48.15
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$69.77
Costs to cover: 0.662%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Coinbase International: live order book, 47 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 SunX live order book, 4 min ago	15.06 bp	23.7 bp −$24	39.0 bp −$390	doesn't fit	doesn't fit
Sell Coinbase International live order book, 47 min ago	3.62 bp	10.0 bp −$10	14.6 bp −$146	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 −0.0201% / S +0.0372%	1h	799.88	−0.070%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.05	−0.049%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.66	−0.098%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.38	−0.008%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.78	+0.042%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.89	−0.069%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0021%	8h	799.96	−0.061%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0043%	8h	799.76	−0.085%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0049%	8h	799.47	−0.122%	$138.7M	$77.8M	75x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0072%	1h	799.89	−0.069%	$606K	$993K	50x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0094%	8h	800.34	−0.013%	$6.3M	$19.0M	200x	as long as short
Lighter BNB	+0.0096%	1h	800.03	−0.052%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.64	−0.101%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.92	−0.065%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.70	−0.093%	$54.5M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.20	−0.030%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.55	−0.112%	$35.8M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.60	−0.105%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.53	−0.114%	$79.3M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.41	−0.004%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.53	+0.011%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.82	−0.078%	$117K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.79	−0.082%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.05	−0.049%	$32K	$5K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	800.44	long leg	$13K	$1.7M	50x
SoDEX BNB-USD	+0.0100%	1h	799.90	−0.068%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.02	−0.053%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.27	−0.022%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.28	−0.145%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.93	−0.064%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0111%	8h	800.39	−0.007%	$69.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0115%	8h	800.70	+0.032%	$83.1M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0116%	8h	800.31	−0.017%	$499.7M	$815.8M	75x	as long as short
Kalshi KXBNBPERP	+0.0116%	8h	800.60	+0.019%	$110K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	800.57	+0.016%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0184%	1h	799.93	−0.064%	$70K	$44K	12x	as long as short
Hyperliquid BNB	+0.0186%	1h	800.62	+0.022%	$51.9M	$21.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.32	−0.016%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0237%	8h	800.43	−0.002%	$18.2M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.95	−0.062%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	800.36	−0.010%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	801.82	+0.172%	$651K	$20K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.580%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.52	−0.115%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0393%	1h	800.10	−0.042%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0411%	1h	800.67	+0.028%	$2.7M	$5.7M	40x	as long as short