Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.007%

Price spread now: Coinbase International against OKX+0.033%7-day average +0.013% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.033%, 7d avg +0.013%

Together, before fees−0.187%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.021% dearer against OKX than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of +0.013%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	786.30	0.0100	pay 0.0100% / 8h	1h 46m	$53.4M	$113.0M	50x
Short	Coinbase International BNB-PERP-INTX	786.56	0.0080	get 0.0010% / 1h	46m 46s	$568K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$4.2
Price spread: +0.033% → +0.013%: $2.05
Slippage, 4 orders: −$7.01
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$29.16
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 2 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 OKX live order book, 2 min ago	0.64 bp	6.3 bp −$6	8.5 bp −$85	22.8 bp −$2,285	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.78 bp	6.8 bp −$7	12.6 bp −$126	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 −0.0170% / S +0.0337%	1h	786.28	−0.002%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.95	+0.083%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.44	+0.145%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.29	−0.001%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.390%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	786.71	+0.052%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.45	+0.019%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.40	+0.140%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	786.74	+0.056%	$490.1M	$816.0M	75x	as long as short
dYdX BNB-USD	+0.0068%	1h	786.47	+0.021%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	786.93	+0.080%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0080%	1h	786.56	+0.033%	$568K	$1.9M	50x
Lighter BNB	+0.0096%	1h	786.35	+0.006%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.40	+0.013%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	+0.045%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.42	+0.015%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.10	−0.025%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	786.30	long leg	$53.4M	$113.0M	50x
Arcus BNB-USD	+0.0100%	1h	786.40	+0.013%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.15	−0.019%	$37.1M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.90	−0.051%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.11	−0.024%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.52	+0.028%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.23	+0.118%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.07	+0.098%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.39	+0.011%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.51	+0.027%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.14	+0.107%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.50	+0.025%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.78	+0.062%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.84	+0.068%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.04	−0.033%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.38	+0.010%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0121%	1h	786.73	+0.055%	$51.5M	$17.6M	10x	as long as short
Phoenix BNB	+0.0135%	1h	787.01	+0.090%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	786.60	+0.038%	$170K	$2.7M	4.8x	as long as short
Backpack BNB_USDC_PERP	+0.0146%	1h	786.67	+0.047%	$2.2M	$6.1M	40x	as long as short
BloFin BNB-USDT	+0.0187%	8h	786.90	+0.076%	$17.7M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.31	+0.001%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.27	+0.123%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	787.15	+0.108%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.78	+0.061%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.11	−0.024%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.115%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.44	+0.018%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	786.90	+0.077%	$67K	$39K	12x	as long as short