Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.044%

Price spread now: Backpack against KuCoin+0.118%7-day average +0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 7 days−0.256%−$26 · spread now +0.118%, 7d avg +0.137%

Together, before fees−0.113%−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	788.22	0.0100	pay 0.0100% / 8h	5h 55m	$27.8M	$10.3M	75x
Short	Backpack BNB_USDC_PERP	789.15	0.0100	get 0.0013% / 1h	55m 31s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → +0.137%: −$1.86
Slippage, 4 orders: −$9.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$33.73
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Backpack: 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 KuCoin live order book, 3 min ago	0.63 bp	9.6 bp −$10	20.5 bp −$205	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.06 bp	7.2 bp −$7	11.7 bp −$117	doesn't fit	doesn't fit

BNB on 45 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	789.32	+0.140%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.91	+0.088%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.36	+0.145%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.33	+0.140%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.140%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	788.92	+0.089%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.66	+0.183%	$619K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0052%	8h	789.65	+0.181%	$69.1M	$50.8M	50x	as long as short
BingX BNB-USDC	+0.0053%	8h	788.65	+0.055%	—	$13.4M	—	as long as short
Variational Omni BNB	+0.0066%	8h	789.32	+0.140%	$4.1M	$4.8M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0069%	8h	789.20	+0.124%	$80.4M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0069%	8h	788.76	+0.069%	$493.8M	$808.5M	75x	as long as short
Gate BNB_USDT	+0.0081%	8h	788.30	+0.010%	$35.4M	$56.2M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.72	+0.190%	$170K	$34K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.15	+0.118%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.56	+0.044%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.27	+0.133%	$381K	$380K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.05	+0.105%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.11	+0.113%	$51.7M	$18.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.66	+0.056%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	−0.015%	$138.7M	$78.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.00	−0.028%	$53.3M	$112.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.70	+0.061%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	788.22	long leg	$27.8M	$10.3M	75x
Bitget BNBUSDT	+0.0100%	8h	788.54	+0.041%	$77.0M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	789.15	+0.118%	$2.2M	$6.1M	40x
edgeX BNBUSDC	+0.0100%	4h	788.30	+0.010%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.22	0.000%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.46	+0.157%	$137K	$945K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.46	+0.158%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.06	+0.233%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.31	+0.138%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	789.23	+0.128%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.06	−0.020%	$1.8M	$5.9M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0104%	8h	788.27	+0.007%	$2.9M	$27.9M	10x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.34	+0.143%	$379K	$110K	10x	as long as short
SoDEX BNB-USD	+0.0166%	1h	789.40	+0.150%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	789.30	+0.137%	$91K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0219%	1h	788.97	+0.095%	$160K	$64K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	789.04	+0.104%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	789.25	+0.131%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0340%	1h	789.39	+0.148%	$639K	$13K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.75	+0.067%	$1.1M	$1.1M	20x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.80	+0.200%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	788.90	+0.086%	$67K	$39K	12x	as long as short