Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.022%

Price spread now: Binance against Coinbase International+0.670%7-day average +0.299% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$19 on $10k

Price spread, last 4 days (all we have)−0.466%−$47 · spread now +0.670%, 7d avg +0.299%

Together, before fees−0.651%−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.371% dearer against Coinbase International than usual: you sell high and buy low (spread +0.670% now, against its 7-day average of +0.299%): +$37 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.185% in total) that is about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BE-PERP-INTX	273.08	0.0064	pay 0.0008% / 1h	58m 15s	$473K	$128K	10x
Short	Binance BEUSDT	274.91	0.0049	get 0.0049% / 8h	3h 58m	$8.5M	$36.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.670%Rate

Funding earned: −$3.07
Price spread: +0.670% → +0.299%: $37.14
Slippage, 4 orders: −$29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$14.93
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 60 min ago; Binance: live order book, 13 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 Coinbase International live order book, 60 min ago	8.89 bp	14.2 bp −$14	19.2 bp −$192	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.18 bp	9.7 bp −$10	29.0 bp −$290	90.4 bp −$9,043	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	274.77	+0.619%	$346K	$119K	20x	as long as short
Gate BE_USDT	0.0000%	8h	274.70	+0.593%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.92	+0.674%	$1.7M	$2.5M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	275.23	+0.787%	$7K	$163K	10x	as long as short
SunX BE-USDT	0.0000%	8h	274.94	+0.681%	$1K	$2.4M	10x	as long as short
HTX BE-USDT	0.0000%	8h	275.67	+0.948%	$13K	$35K	20x	as long as short
Lighter BE	+0.0032%	1h	274.56	+0.542%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	274.73	+0.604%	$251K	$290K	10x	as long as short
QFEX BE-USD	+0.0036%	1h	274.95	+0.685%	$1.3M	$2.7M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	274.85	+0.648%	$115K	$109K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BE-USD-PERP	+0.0046%	1h	274.92	+0.674%	—	—	10x	as long as short
Extended BE-USD	+0.0048%	1h	274.90	+0.667%	$46K	$260K	10x	as long as short
Binance BEUSDTshort	+0.0049%	8h	274.91	+0.670%	$8.5M	$36.5M	25x
tradeXYZ xyz:BE	+0.0050%	1h	274.82	+0.637%	$5.9M	$2.6M	10x	as long as short
Coinbase International BE-PERP-INTXlong	+0.0064%	1h	273.08	long leg	$473K	$128K	10x
Bybit BEUSDT	+0.0097%	8h	274.91	+0.670%	$2.0M	$1.2M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	274.85	+0.648%	$371K	$20K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	274.83	+0.642%	—	—	10x	as long as short
OKX BE-USDT-SWAP	+0.0146%	8h	275.15	+0.758%	$2.7M	$6.8M	25x	as long as short
BloFin BE-USDT	+0.0171%	8h	274.97	+0.692%	$45K	$141K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0624%	1h	274.83	+0.641%	$7K	$4K	10x	as long as short