Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h +0.003%

Price spread now: Coinbase International against Bybit+0.072%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.072%, 7d avg +0.015%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.057% dearer against Bybit than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of +0.015%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	788.88	0.0100	pay 0.0100% / 8h	4h 18m	$138.8M	$74.6M	75x
Short	Coinbase International BNB-PERP-INTX	789.45	0.0064	get 0.0008% / 1h	18m 47s	$582K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$7.56
Price spread: +0.072% → +0.015%: $5.73
Slippage, 4 orders: −$10.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$33.81
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 5 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 Bybit live order book, 5 min ago	0.63 bp	6.9 bp −$7	8.5 bp −$85	24.8 bp −$2,481	164.9 bp −$82.5K
Sell Coinbase International live order book, 5 min ago	2.03 bp	8.9 bp −$9	15.4 bp −$154	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 −0.0187% / S +0.0352%	1h	789.21	+0.042%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.60	+0.091%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.38	+0.063%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.23	+0.044%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.055%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	789.45	+0.072%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0051%	8h	788.97	+0.011%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.76	+0.112%	$69.1M	$50.0M	50x	as long as short
Binance BNBUSDT	+0.0062%	8h	789.35	+0.059%	$492.6M	$789.5M	75x	as long as short
MEXC BNB_USDT	+0.0062%	8h	789.70	+0.104%	$80.1M	$12.4M	200x	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	+0.0064%	1h	789.45	+0.072%	$582K	$1.9M	50x
Lighter BNB	+0.0096%	1h	789.00	+0.016%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.20	+0.041%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.10	+0.028%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.40	+0.066%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.40	+0.066%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	788.88	long leg	$138.8M	$74.6M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	788.60	−0.035%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.40	+0.066%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.80	−0.010%	$35.5M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.73	−0.019%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.57	−0.039%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.43	+0.070%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.80	−0.010%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.71	+0.105%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.71	+0.105%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.05	+0.022%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.31	+0.055%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.82	+0.119%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.40	+0.066%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.11	+0.029%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.78	+0.114%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.49	−0.049%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.33	+0.057%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.49	+0.077%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.35	+0.060%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0148%	8h	789.97	+0.138%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	789.80	+0.117%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0183%	8h	789.85	+0.123%	$18.2M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	789.61	+0.092%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.158%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.76	+0.112%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.01	+0.017%	$2.5M	$1.2M	50x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.89	+0.002%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0400%	1h	789.48	+0.076%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.50	+0.078%	$1.1M	$967K	20x	as long as short