Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h +0.009%

Price spread now: Binance against Coinbase International−0.155%7-day average +0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$260.256% 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+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.384%+$38 · spread now −0.155%, 7d avg +0.095%

Together, before fees+0.434%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Binance is 0.250% cheaper against Coinbase International than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	788.38	0.0080	pay 0.0010% / 1h	55m 33s	$569K	$1.9M	50x
Short	Binance BNBUSDT	787.16	0.0067	get 0.0067% / 8h	1h 55m	$490.1M	$815.8M	75x

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 −0.155%Rate

Funding earned: −$2.65
Price spread: −0.155% → +0.095%: −$25.02
Slippage, 4 orders: −$5.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$53.29
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Binance: 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 Coinbase International live order book, 3 min ago	2.29 bp	8.2 bp −$8	14.5 bp −$145	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.06 bp	5.1 bp −$5	6.5 bp −$65	16.3 bp −$1,629	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 −0.0192% / S +0.0356%	1h	786.74	−0.208%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	−0.034%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.58	+0.025%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.77	−0.204%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.120%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	787.26	−0.142%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	787.00	−0.175%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.70	−0.086%	$80.9M	$11.9M	200x	as long as short
Binance BNBUSDTshort	+0.0067%	8h	787.16	−0.155%	$490.1M	$815.8M	75x
Phemex BNBUSDT	+0.0070%	8h	787.22	−0.147%	$68.9M	$51.0M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0072%	1h	787.10	−0.162%	$159K	$62K	10x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0080%	1h	788.38	long leg	$569K	$1.9M	50x
Lighter BNB	+0.0096%	1h	786.91	−0.187%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.87	−0.192%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.90	−0.188%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.98	−0.178%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.60	−0.226%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.70	−0.213%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.90	−0.188%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.70	−0.213%	$37.0M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.46	−0.244%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.52	−0.236%	$76.1M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.27	−0.141%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.71	−0.212%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	−0.076%	$4.1M	$75.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	−0.155%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.82	−0.198%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.91	−0.187%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.44	−0.119%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.90	−0.188%	$387K	$986K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.77	−0.204%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.15	−0.156%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.45	−0.245%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.91	−0.187%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.80	−0.074%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	787.40	−0.124%	$169K	$2.7M	4.8x	as long as short
Hyperliquid BNB	+0.0158%	1h	787.46	−0.117%	$51.5M	$17.7M	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.44	−0.119%	$17.7M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.67	−0.217%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.46	−0.117%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	787.12	−0.160%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.28	−0.140%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.70	−0.213%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.024%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.98	−0.178%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	787.15	−0.156%	$67K	$39K	12x	as long as short