Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.007%

Price spread now: KuCoin against Coinbase International−0.069%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.069%, 7d avg +0.002%

Together, before fees+0.279%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.070% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of +0.002%). If the spread goes back, that is −$7 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	787.46	0.0080	pay 0.0010% / 1h	47m 46s	$578K	$1.9M	50x
Short	KuCoin BNBUSDTM	786.92	0.0100	get 0.0100% / 8h	2h 47m	$27.6M	$10.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.069%Rate

Funding earned: $4.2
Price spread: −0.069% → +0.002%: −$7.03
Slippage, 4 orders: −$18.47
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$43.3
Costs to cover: 0.405%
Break-even: 79.2 days

Slippage from Coinbase International: live order book, 6 min ago; KuCoin: live order book, 6 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, 6 min ago	2.29 bp	8.3 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	0.83 bp	11.0 bp −$11	22.9 bp −$229	50.4 bp −$5,043	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	787.49	+0.003%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.53	+0.009%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.28	+0.104%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.50	+0.005%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	787.70	+0.030%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.239%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0039%	8h	787.31	−0.019%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	788.00	+0.069%	$79.8M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	787.59	+0.017%	$490.6M	$804.2M	75x	as long as short
Phemex BNBUSDT	+0.0052%	8h	787.98	+0.066%	$68.9M	$50.7M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	787.41	−0.006%	$2.5M	$1.2M	50x	as long as short
dYdX BNB-USD	+0.0071%	1h	787.77	+0.039%	$159K	$61K	10x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0080%	1h	787.46	long leg	$578K	$1.9M	50x
Lighter BNB	+0.0096%	1h	787.34	−0.016%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.49	+0.004%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	+0.024%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.76	+0.038%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.37	−0.011%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.00	−0.058%	$138.3M	$74.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.00	−0.058%	$53.4M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.90	+0.056%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.20	−0.033%	$36.1M	$57.9M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	786.92	−0.069%	$27.6M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	787.26	−0.025%	$76.2M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.72	+0.033%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.11	−0.044%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.81	+0.045%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.86	+0.051%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.57	+0.014%	$132K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.65	+0.025%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.35	+0.113%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.29	−0.022%	$8.1M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.34	−0.016%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.74	−0.092%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.47	+0.001%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.34	−0.015%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0122%	1h	787.50	+0.005%	$387K	$997K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	788.00	+0.069%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0171%	8h	787.95	+0.062%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0198%	8h	788.06	+0.076%	$2.9M	$29.2M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.87	+0.053%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.090%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.36	+0.114%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.30	−0.020%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	788.01	+0.070%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	787.74	+0.035%	$67K	$39K	12x	as long as short