Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h +0.003%

Price spread now: Binance against Coinbase International+0.111%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now +0.111%, 7d avg +0.091%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.091%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	786.42	0.0136	pay 0.0017% / 1h	19m 25s	$544K	$1.9M	50x
Short	Binance BNBUSDT	787.29	0.0020	get 0.0020% / 8h	6h 19m	$481.7M	$779.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.111%Rate

Funding earned: −$24.34
Price spread: +0.111% → +0.091%: $1.94
Slippage, 4 orders: −$9.26
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$51.65
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Binance: live order book, 3 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 Coinbase International live order book, 2 min ago	2.29 bp	8.2 bp −$8	14.2 bp −$142	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.06 bp	5.1 bp −$5	6.4 bp −$64	14.1 bp −$1,408	doesn't fit

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	786.58	+0.020%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.15	+0.093%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.28	+0.109%	$5.9M	$17.4M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.34	+0.117%	$3.0M	$26.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.40	+0.125%	$158K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	786.95	+0.067%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.58	+0.020%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0020%	8h	788.50	+0.264%	$83.3M	$12.2M	200x	as long as short
Binance BNBUSDTshort	+0.0020%	8h	787.29	+0.111%	$481.7M	$779.7M	75x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.374%	$19K	$789K	30x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0035%	1h	786.56	+0.018%	$2.5M	$1.3M	50x	as long as short
Bybit BNBUSDT	+0.0073%	8h	786.40	−0.003%	$138.5M	$68.6M	75x	as long as short
BloFin BNB-USDT	+0.0081%	8h	787.74	+0.168%	$17.6M	$2.2M	75x	as long as short
Phoenix BNB	+0.0094%	1h	787.39	+0.123%	$158K	$45K	10x	as long as short
Phemex BNBUSDT	+0.0096%	8h	787.39	+0.123%	$68.4M	$51.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.71	+0.037%	$2.7M	$3.4M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.50	+0.010%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.36	+0.120%	$51.8M	$17.0M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.85	+0.055%	$1.2M	$933K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.015%	$53.4M	$104.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.00	+0.074%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.75	+0.042%	$40.7M	$55.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.49	+0.009%	$28.2M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.39	−0.004%	$75.5M	$32.3M	75x	as long as short
BingX BNB-USDC	+0.0100%	8h	786.95	+0.067%	—	$13.4M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.20	+0.099%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.49	+0.009%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.61	+0.151%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.82	+0.178%	$159K	$445K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.83	+0.052%	$130K	$911K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.66	+0.031%	$264K	$299K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.34	+0.117%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.80	+0.048%	$387K	$928K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.95	+0.068%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.12	+0.089%	$78K	$337K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.11	−0.039%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.66	+0.030%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0136%	1h	786.42	long leg	$544K	$1.9M	50x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.98	+0.072%	$1.5M	$158K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	787.70	+0.163%	$638K	$0	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.35	+0.118%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	786.32	−0.013%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0345%	1h	787.23	+0.103%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0352%	1h	786.97	+0.070%	$67K	$37K	12x	as long as short
dYdX BNB-USD	+0.0377%	1h	786.57	+0.019%	$158K	$38K	10x	as long as short