Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.007%

Price spread now: edgeX against Coinbase International+0.019%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 4 days (all we have)+0.366%+$37 · spread now +0.019%, 7d avg +0.076%

Together, before fees+0.472%+ Points / potential airdropedgeX: Active · farm board+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.058% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.076%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.106%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	785.76	0.0120	pay 0.0015% / 1h	33m 23s	$547K	$1.9M	50x
Short	edgeX BNBUSDC	785.91	0.0100	get 0.0050% / 4h	3h 33m	$4.1M	$76.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$4.2
Price spread: +0.019% → +0.076%: −$5.76
Slippage, 4 orders: −$10.51
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$39.47
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; edgeX: 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, 5 min ago	2.29 bp	9.3 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell edgeX live order book, 6 min ago	1.91 bp	6.4 bp −$6	6.4 bp −$64	9.7 bp −$974	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 −0.0166% / S +0.0337%	1h	784.67	−0.139%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.08	−0.087%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	784.95	−0.103%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.06	+0.038%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.04	+0.036%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.44	−0.040%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0022%	8h	785.25	−0.065%	$5.9M	$18.4M	200x	as long as short
BingX BNB-USDT	+0.0032%	8h	784.81	−0.121%	—	$22.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.460%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0038%	8h	786.30	+0.069%	$82.3M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0038%	8h	785.20	−0.071%	$488.0M	$810.4M	75x	as long as short
Lighter BNB	+0.0096%	1h	784.95	−0.104%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	−0.167%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.37	−0.050%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.91	−0.108%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.54	−0.155%	$138.2M	$73.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.40	−0.173%	$53.3M	$110.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.90	−0.109%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.75	−0.129%	$39.3M	$55.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.38	−0.176%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.30	−0.186%	$75.2M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.80	+0.005%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.32	−0.056%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	785.91	+0.019%	$4.1M	$76.2M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	786.17	+0.052%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.85	−0.116%	$131K	$924K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.72	−0.132%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.63	−0.016%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.23	−0.068%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.90	−0.109%	$386K	$942K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.51	−0.159%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.27	−0.062%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.25	−0.193%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.73	−0.131%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0111%	8h	785.70	−0.008%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0120%	1h	785.76	long leg	$547K	$1.9M	50x
Phoenix BNB	+0.0120%	1h	785.84	+0.010%	$158K	$38K	10x	as long as short
dYdX BNB-USD	+0.0143%	1h	784.84	−0.117%	$157K	$64K	10x	as long as short
BloFin BNB-USDT	+0.0153%	8h	785.36	−0.051%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.13	−0.080%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	785.97	+0.027%	$637K	$831	10x	as long as short
Phemex BNBUSDT	+0.0229%	8h	785.55	−0.027%	$68.4M	$51.0M	50x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	785.24	−0.066%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.01	−0.096%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	784.99	−0.098%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	785.69	−0.008%	$67K	$39K	12x	as long as short