Funding you earn now, next payment 01:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.06 per $10,000 · paid last 24h +0.001%
Price spread now: Coinbase International against Derive−0.090%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.090% cheaper against Derive than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BNB-PERP | 793.23 | 0.0100 | pay 0.0013% / 1h | 43m 03s | $32K | $9K | 10x |
| Short | Coinbase International BNB-PERP-INTX | 792.52 | 0.0056 | get 0.0007% / 1h | 43m 03s | $608K | $1.1M | 50x |
Derive BNB-PERP
Coinbase International BNB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Derive. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$9.24
- Price spread: −0.090% → 0.000%
- −$9
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$34.24
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Coinbase International: live order book, just now. Net counts fees only.
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 Derive no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, just now | 2.59 bp | 9.6 bp −$10 | 12.9 bp −$129 | doesn't fit | doesn't fit |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 −0.0167% / S +0.0335% | 1h | 793.27 | +0.004% | $46K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0132% | 1h | 793.02 | −0.028% | $2.5M | $1.0M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 793.65 | +0.052% | $4K | $239 | 25x | as long as short |
| Gate BNB_USDT | −0.0009% | 8h | 792.65 | −0.074% | $35.4M | $55.4M | 75x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 793.84 | +0.076% | $858K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 793.25 | +0.002% | $9.7M | — | 150x | as long as short |
| Variational Omni BNB | +0.0010% | 8h | 792.53 | −0.089% | $4.1M | $5.0M | — | as long as short |
| GRVT BNB_USDT_Perp | +0.0011% | 8h | 793.23 | −0.001% | $3.0M | $28.4M | 10x | as long as short |
| Phemex BNBUSDT | +0.0018% | 8h | 793.54 | +0.039% | $69.3M | $50.3M | 50x | as long as short |
| Aster BNBUSDT | +0.0031% | 8h | 793.33 | +0.013% | $6.1M | $19.9M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Gate BNB_USDT
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
GRVT BNB_USDT_Perp
Phemex BNBUSDT
Aster BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.495% | $19K | $789K | 30x | as long as short |
| dYdX BNB-USD | +0.0039% | 1h | 793.18 | −0.007% | $160K | $63K | 10x | as long as short |
| BingX BNB-USDT | +0.0050% | 8h | 792.82 | −0.052% | — | $34.9M | — | as long as short |
| Coinbase International BNB-PERP-INTXshort | +0.0056% | 1h | 792.52 | −0.090% | $608K | $1.1M | 50x | |
| MEXC BNB_USDT | +0.0061% | 8h | 793.70 | +0.059% | $82.3M | $12.7M | 200x | as long as short |
| Binance BNBUSDT | +0.0061% | 8h | 792.67 | −0.071% | $492.8M | $816.1M | 75x | as long as short |
| Phoenix BNB | +0.0088% | 1h | 793.02 | −0.027% | $170K | $36K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 793.23 | −0.001% | $2.8M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 793.06 | −0.022% | $383K | $409K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 793.25 | +0.002% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 793.70 | +0.059% | $1.2M | $932K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 792.10 | −0.143% | $138.0M | $77.2M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 791.90 | −0.168% | $53.2M | $111.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 793.50 | +0.034% | $52K | $134K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 792.77 | −0.058% | $27.7M | $10.0M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 792.75 | −0.061% | $77.4M | $28.3M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 793.14 | −0.012% | $4.1M | $76.9M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 793.32 | +0.011% | $160K | $435K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 793.25 | +0.002% | $111K | $889K | 10x | as long as short |
| Derive BNB-PERPlong | +0.0100% | 1h | 793.23 | long leg | $32K | $9K | 10x | |
| SunX BNB-USDT | +0.0100% | 8h | 794.07 | +0.105% | $13K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 793.20 | −0.004% | $390K | $995K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 793.04 | −0.025% | $8.1M | $8.7M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 793.89 | +0.083% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 792.80 | −0.054% | $1.7M | $6.0M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 793.15 | −0.011% | $381K | $110K | 10x | as long as short |
| Hyperliquid BNB | +0.0121% | 1h | 793.18 | −0.007% | $52.6M | $19.9M | 10x | as long as short |
| RISEx BNB/USDC | +0.0131% | 1h | 793.47 | +0.029% | $1.1M | $1.4M | 20x | as long as short |
| Kalshi KXBNBPERP | +0.0160% | 8h | 793.80 | +0.071% | $111K | $2.8M | 4.8x | as long as short |
| Bulk BNB-USD | +0.0167% | 1h | 793.21 | −0.003% | $644K | $10K | 10x | as long as short |
| BloFin BNB-USDT | +0.0182% | 8h | 794.06 | +0.104% | $18.1M | $2.5M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0240% | 1h | 793.90 | +0.084% | $28K | $2K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0329% | 1h | 793.06 | −0.022% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0386% | 1h | 793.52 | +0.036% | $2.7M | $5.7M | 40x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0400% | 1h | 793.58 | +0.044% | $1.6M | $161K | 25x | as long as short |
| Hibachi BNB/USDT-P | +0.0480% | 1h | 792.90 | −0.042% | $68K | $38K | 12x | as long as short |
Injective BNB/USDC PERP
dYdX BNB-USD
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDT
Phoenix BNB
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Hyperliquid BNB
RISEx BNB/USDC
Kalshi KXBNBPERP
Bulk BNB-USD
BloFin BNB-USDT
01 Exchange BNBUSD
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP
Deribit BNB_USDC-PERPETUAL
Hibachi BNB/USDT-P