Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.002%

Price spread now: Gate against Coinbase International−0.037%50s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.355% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.142%+$14 · spread now −0.037%, 7d avg +0.002%

Together, before fees+0.195%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.039% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.002%). If the spread goes back, that is −$4 on $10k: about 11 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.053% in total) that is about 5.2 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	805.15	0.0088	pay 0.0011% / 1h	10m 23s	$608K	$881K	50x
Short	Gate BNB_USDT	804.85	0.0100	get 0.0100% / 8h	2h 10m	$36.1M	$59.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.037%Rate

Funding earned: $2.52
Price spread: −0.037% → +0.002%: −$3.89
Slippage, 4 orders: −$10.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.91
Costs to cover: 0.355%
Break-even: 109.5 days

Slippage from Coinbase International: live order book, 13 min ago; Gate: live order book, 4 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, 13 min ago	2.42 bp	7.5 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.31 bp	10.8 bp −$11	13.9 bp −$139	26.9 bp −$2,692	54.6 bp −$27.3K

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	804.88	−0.033%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.14	−0.001%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.48	+0.041%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.40	+0.031%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.97	−0.022%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.00	−0.019%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	805.12	−0.003%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	−0.065%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0055%	8h	805.08	−0.009%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0080%	8h	804.70	−0.056%	$139.6M	$81.7M	75x	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-INTXlong	+0.0088%	1h	805.15	long leg	$608K	$881K	50x
Lighter BNB	+0.0096%	1h	805.47	+0.040%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	805.67	+0.065%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.90	−0.031%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.50	+0.043%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.80	−0.043%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.40	+0.031%	$53K	$170K	10x	as long as short
Gate BNB_USDTshort	+0.0100%	8h	804.85	−0.037%	$36.1M	$59.2M	75x
KuCoin BNBUSDTM	+0.0100%	8h	804.85	−0.037%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.54	−0.076%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.79	+0.204%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.36	+0.150%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.96	−0.024%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.00	−0.019%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.99	−0.020%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.43	+0.035%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.52	+0.046%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.95	−0.025%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.95	+0.100%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.70	−0.055%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.12	−0.004%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0114%	8h	805.80	+0.081%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	805.65	+0.062%	$520.7M	$806.1M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.058%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0134%	8h	805.65	+0.062%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0194%	1h	805.00	−0.019%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.26	+0.014%	$1.1M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0211%	1h	805.54	+0.048%	$51.9M	$22.0M	10x	as long as short
BloFin BNB-USDT	+0.0234%	8h	805.45	+0.037%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0245%	1h	804.86	−0.036%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.00	−0.018%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.027%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.70	−0.056%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.87	+0.089%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.032%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0651%	1h	806.00	+0.106%	$3.0M	$5.5M	40x	as long as short