Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0174%/8h= −19.1% APRpaid last 24h −0.056%

Price spread now: KuCoin against Bulk+0.006%7-day average −0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on Bulk Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.230%−$23 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.006%, 7d avg −0.111%

Together, before fees−0.298%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.117% dearer against Bulk than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.111%): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	805.55	0.0274	pay 0.0034% / 1h	46m 08s	$651K	$14K	10x
Short	KuCoin BNBUSDTM	805.60	0.0100	get 0.0100% / 8h	1h 46m	$28.2M	$10.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bulk. 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 BulkbpFee KuCoinbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$36.59
Price spread: +0.006% → −0.111%: $11.71
Slippage, 4 orders: −$12.53
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$56.41
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Bulk: live order book, 38 min ago; KuCoin: live order book, 3 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 Bulk live order book, 38 min ago	0.06 bp	3.6 bp −$4	3.7 bp −$37	6.0 bp −$597	13.9 bp −$6,931
Sell KuCoin live order book, 3 min ago	0.81 bp	13.1 bp −$13	20.1 bp −$201	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	805.51	−0.005%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.30	+0.093%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.049%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.10	+0.068%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.84	+0.036%	$871K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.54	−0.001%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.145%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0058%	8h	805.63	+0.010%	—	$13.3M	—	as long as short
Hibachi BNB/USDT-P	+0.0072%	1h	805.46	−0.011%	$71K	$48K	12x	as long as short
Bybit BNBUSDT	+0.0085%	8h	805.10	−0.056%	$139.5M	$81.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	806.00	+0.056%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	−0.001%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.12	−0.054%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.69	+0.018%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.30	−0.031%	$55.1M	$116.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.80	+0.031%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.45	−0.012%	$36.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	805.60	+0.006%	$28.2M	$10.5M	75x
Bitget BNBUSDT	+0.0100%	8h	805.23	−0.040%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	−0.014%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.50	−0.006%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.38	−0.021%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.75	+0.025%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.93	+0.047%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.34	+0.097%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.57	+0.002%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.13	+0.072%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0104%	8h	806.12	+0.071%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	805.37	−0.022%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.02	+0.058%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	806.60	+0.130%	$84.7M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	806.21	+0.082%	$520.8M	$804.3M	75x	as long as short
Phemex BNBUSDT	+0.0132%	8h	806.33	+0.097%	$70.4M	$51.9M	50x	as long as short
Phoenix BNB	+0.0155%	1h	805.60	+0.006%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0174%	1h	806.31	+0.094%	$51.9M	$22.0M	10x	as long as short
SoDEX BNB-USD	+0.0182%	1h	805.90	+0.043%	$396K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0193%	1h	805.84	+0.036%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.81	+0.033%	$2.5M	$929K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	806.34	+0.098%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USDlong	+0.0274%	1h	805.55	long leg	$651K	$14K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	806.29	+0.091%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.057%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.68	+0.016%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	805.17	−0.047%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	806.37	+0.102%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0713%	1h	806.61	+0.132%	$3.0M	$5.5M	40x	as long as short