Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.002%

Price spread now: Coinbase International against SunX−0.089%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.089%, 7d avg −0.092%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	805.25	0.0100	pay 0.0100% / 8h	2h 03m	$13K	$1.7M	50x
Short	Coinbase International BNB-PERP-INTX	804.54	0.0088	get 0.0011% / 1h	3m 14s	$607K	$881K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$2.52
Price spread: −0.089% → −0.092%: $0.34
Slippage, 4 orders: −$43.76
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$63.94
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Coinbase International: live order book, 20 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 SunX live order book, 12 min ago	15.07 bp	21.8 bp −$22	29.2 bp −$292	doesn't fit	doesn't fit
Sell Coinbase International live order book, 20 min ago	2.42 bp	8.8 bp −$9	15.0 bp −$150	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 −0.0195% / S +0.0371%	1h	804.67	−0.073%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.18	−0.009%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.57	−0.085%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.10	−0.019%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.20	−0.131%	$869K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.75	−0.063%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.92	−0.041%	$2.5M	$928K	50x	as long as short
Variational Omni BNB	+0.0048%	8h	803.61	−0.204%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0056%	8h	804.71	−0.068%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0079%	8h	804.40	−0.106%	$139.6M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTXshort	+0.0088%	1h	804.54	−0.089%	$607K	$881K	50x
Lighter BNB	+0.0096%	1h	805.01	−0.030%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0099%	8h	805.39	+0.017%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.45	−0.100%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.93	−0.040%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.50	−0.094%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.00	−0.032%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.50	−0.094%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.59	−0.082%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.37	−0.110%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.74	−0.064%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.70	−0.069%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.62	−0.079%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.73	−0.065%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.00	−0.031%	$32K	$5K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	805.25	long leg	$13K	$1.7M	50x
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.30	+0.005%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.71	−0.068%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.38	+0.016%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.37	−0.110%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.93	−0.040%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.70	+0.055%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0116%	8h	805.46	+0.026%	$520.2M	$806.2M	75x	as long as short
Phoenix BNB	+0.0125%	1h	804.66	−0.074%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0138%	8h	805.43	+0.022%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0191%	1h	804.80	−0.056%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0198%	1h	805.18	−0.009%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.91	−0.043%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0230%	1h	804.85	−0.050%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0236%	8h	805.43	+0.022%	$18.9M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	804.10	−0.143%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.015%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.39	−0.107%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.61	+0.044%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.045%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0655%	1h	805.81	+0.069%	$3.0M	$5.5M	40x	as long as short