Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.003%

Price spread now: SunX against Coinbase International+0.017%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$630.625% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now +0.017%, 7d avg +0.092%

Together, before fees+0.222%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.075% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.017% now, against its 7-day average of +0.092%). If the spread goes back, that is −$7 on $10k: about 4.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	799.12	0.0048	pay 0.0006% / 1h	26m 38s	$615K	$1.1M	50x
Short	SunX BNB-USDT	799.26	0.0100	get 0.0100% / 8h	7h 26m	$13K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.017%Rate

Funding earned: $10.92
Price spread: +0.017% → +0.092%: −$7.47
Slippage, 4 orders: −$44.55
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$59.1
Costs to cover: 0.625%
Break-even: 44.9 days

Slippage from Coinbase International: live order book, 47 min ago; SunX: live order book, 9 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, 47 min ago	2.63 bp	9.6 bp −$10	13.8 bp −$138	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	15.06 bp	23.4 bp −$23	30.6 bp −$306	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 −0.0159% / S +0.0334%	1h	798.72	−0.050%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.69	−0.054%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.06	−0.008%	$4K	$239	25x	as long as short
BingX BNB-USDT	−0.0024%	8h	799.52	+0.050%	—	$35.0M	—	as long as short
Bybit BNBUSDT	−0.0009%	8h	799.90	+0.098%	$139.0M	$75.6M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.48	+0.045%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.70	+0.073%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0003%	8h	798.43	−0.087%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.83	−0.036%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0020%	8h	799.44	+0.040%	$69.8M	$50.2M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BNB_USDT	+0.0023%	8h	799.30	+0.023%	$35.8M	$56.4M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.747%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0048%	1h	799.12	long leg	$615K	$1.1M	50x
Aster BNBUSDT	+0.0060%	8h	799.81	+0.086%	$6.2M	$19.3M	200x	as long as short
MEXC BNB_USDT	+0.0081%	8h	800.40	+0.160%	$83.2M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0081%	8h	800.67	+0.194%	$496.8M	$810.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.60	+0.060%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	798.91	−0.026%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.30	+0.023%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.65	+0.067%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.00	+0.110%	$54.3M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.70	+0.073%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.35	+0.029%	$27.9M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.72	+0.075%	$78.9M	$27.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.99	−0.016%	$4.2M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.82	−0.038%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.89	−0.029%	$117K	$878K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.74	−0.048%	$386K	$458K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.85	−0.034%	$32K	$5K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	799.26	+0.017%	$13K	$1.6M	50x
SoDEX BNB-USD	+0.0100%	1h	798.90	−0.028%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.70	−0.053%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.29	+0.146%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.17	+0.007%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.73	−0.049%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	+0.020%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.74	+0.078%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	799.40	+0.035%	$90K	$2.8M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0200%	1h	799.61	+0.062%	$69K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.17	+0.006%	$1.6M	$161K	25x	as long as short
BloFin BNB-USDT	+0.0201%	8h	799.28	+0.020%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	800.19	+0.134%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0225%	1h	799.33	+0.026%	$161K	$63K	10x	as long as short
Hyperliquid BNB	+0.0307%	1h	799.98	+0.108%	$53.2M	$20.7M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.56	−0.070%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0392%	1h	799.50	+0.048%	$2.7M	$5.7M	40x	as long as short