Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.056%

Price spread now: KuCoin against Bulk−0.068%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Bulk Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.230%−$23 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.068%, 7d avg −0.111%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.043% dearer against Bulk than usual: you sell high and buy low (spread −0.068% now, against its 7-day average of −0.111%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	800.20	0.0298	pay 0.0037% / 1h	5m 23s	$650K	$21K	10x
Short	KuCoin BNBUSDTM	799.66	0.0100	get 0.0100% / 8h	1h 05m	$28.0M	$10.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bulk. 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 BulkbpFee KuCoinbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$41.66
Price spread: −0.068% → −0.111%: $4.28
Slippage, 4 orders: −$11.49
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$67.88
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Bulk: live order book, 14 min ago; KuCoin: 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 Bulk live order book, 14 min ago	0.06 bp	3.6 bp −$4	3.9 bp −$39	6.9 bp −$692	15.1 bp −$7,525
Sell KuCoin live order book, 4 min ago	0.75 bp	12.8 bp −$13	18.9 bp −$189	49.5 bp −$4,948	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 −0.0201% / S +0.0372%	1h	799.71	−0.062%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.06	−0.018%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.27	+0.009%	$3.0M	$29.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.92	−0.036%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.71	−0.062%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0030%	8h	799.14	−0.133%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0052%	8h	799.83	−0.047%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0065%	8h	799.34	−0.108%	$139.0M	$78.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.77	−0.055%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	799.17	−0.129%	$605K	$994K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0096%	8h	800.18	−0.003%	$6.3M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.54	−0.083%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.76	−0.055%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.50	−0.088%	$54.6M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.00	−0.026%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.20	−0.126%	$35.7M	$59.0M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	799.66	−0.068%	$28.0M	$10.3M	75x
Bitget BNBUSDT	+0.0100%	8h	799.56	−0.081%	$80.7M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.61	−0.075%	$4.2M	$77.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.21	+0.001%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.78	−0.053%	$121K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.63	−0.072%	$386K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.75	−0.056%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.29	+0.011%	$12K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.70	−0.063%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.39	−0.102%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.22	+0.002%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.18	−0.128%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.77	−0.055%	$384K	$40K	10x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	800.10	−0.013%	$116K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0116%	8h	800.70	+0.062%	$83.2M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0117%	8h	800.41	+0.026%	$500.7M	$818.0M	75x	as long as short
Phemex BNBUSDT	+0.0117%	8h	800.12	−0.011%	$70.0M	$51.2M	50x	as long as short
Phoenix BNB	+0.0155%	1h	800.03	−0.022%	$172K	$35K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.08	−0.015%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.47	−0.092%	$2.6M	$965K	50x	as long as short
Hibachi BNB/USDT-P	+0.0224%	1h	799.23	−0.122%	$71K	$48K	12x	as long as short
BloFin BNB-USDT	+0.0236%	8h	799.83	−0.047%	$18.3M	$2.5M	75x	as long as short
Bulk BNB-USDlong	+0.0298%	1h	800.20	long leg	$650K	$21K	10x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.610%	$19K	$789K	30x	as long as short
Hyperliquid BNB	+0.0316%	1h	800.60	+0.049%	$51.8M	$21.6M	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	799.86	−0.043%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	800.44	+0.029%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.42	−0.099%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0355%	1h	799.29	−0.114%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0565%	1h	800.36	+0.019%	$2.7M	$5.7M	40x	as long as short