Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.045%

Price spread now: BloFin against Coinbase International+0.196%58s7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.301% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.276%+$28 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.196%, 7d avg +0.098%

Together, before fees+0.243%+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.099% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.098%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	783.79	0.0080	pay 0.0010% / 1h	28m 00s	$567K	$1.9M	50x
Short	BloFin BNB-USDT	785.33	0.0174	get 0.0174% / 8h	2h 28m	$17.7M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.196%Rate

Funding earned: $19.7
Price spread: +0.196% → +0.098%: $9.86
Slippage, 4 orders: −$8.08
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$0.52
Costs to cover: 0.301%
Break-even: 7.2 days

Slippage from Coinbase International: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	2.62 bp	8.8 bp −$9	15.2 bp −$152	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.57 bp	6.7 bp −$7	7.1 bp −$71	10.2 bp −$1,019	18.8 bp −$9,398

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 −0.0192% / S +0.0356%	1h	783.65	−0.018%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.00	+0.154%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.52	+0.221%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	783.79	0.000%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0031%	8h	784.50	+0.091%	$6.0M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.718%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0042%	8h	784.07	+0.036%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0052%	8h	784.45	+0.084%	$68.6M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0053%	8h	784.80	+0.129%	$79.5M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0054%	8h	784.54	+0.095%	$488.7M	$810.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	783.73	−0.008%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0080%	1h	783.79	long leg	$567K	$1.9M	50x
Lighter BNB	+0.0096%	1h	784.09	+0.039%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	783.94	+0.019%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.80	+0.001%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.59	+0.102%	$51.3M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.32	+0.068%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	783.90	+0.014%	$137.7M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	783.80	+0.001%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.30	+0.065%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.00	+0.027%	$36.4M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.79	0.000%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.56	−0.029%	$75.9M	$30.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.46	+0.085%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.13	+0.043%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.38	+0.202%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.10	+0.167%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.80	+0.001%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	783.98	+0.024%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.57	+0.099%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.00	+0.027%	$385K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	783.94	+0.020%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.39	+0.076%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.58	−0.027%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.08	+0.037%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.13	+0.171%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0146%	8h	784.40	+0.078%	$154K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0150%	1h	784.37	+0.074%	$159K	$61K	10x	as long as short
BloFin BNB-USDTshort	+0.0174%	8h	785.33	+0.196%	$17.7M	$2.2M	75x
GRVT BNB_USDT_Perp	+0.0206%	8h	784.96	+0.149%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	784.74	+0.121%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.242%	$637K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.32	+0.068%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	783.66	−0.016%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.37	+0.074%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	784.92	+0.144%	$67K	$39K	12x	as long as short