Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: HTX against Coinbase International+0.003%7-day average +0.002% · 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−$35as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.003%, 7d avg +0.002%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	805.54	0.0096	pay 0.0012% / 1h	46m 38s	$608K	$880K	50x
Short	HTX BNB-USDT	805.57	0.0100	get 0.0100% / 8h	1h 46m	$8.2M	$7.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $0.84
Price spread: +0.003% → +0.002%: $0.1
Slippage, 4 orders: −$13.4
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.46
Costs to cover: 0.354%
Break-even: 294.1 days

Slippage from Coinbase International: live order book, 37 min ago; HTX: live order book, 2 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, 37 min ago	2.42 bp	7.5 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	1.04 bp	10.2 bp −$10	14.5 bp −$145	46.3 bp −$4,626	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	805.14	−0.050%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.30	+0.094%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.048%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.90	+0.045%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.19	−0.043%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.23	−0.039%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.144%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0057%	8h	805.58	+0.005%	—	$13.3M	—	as long as short
Hibachi BNB/USDT-P	+0.0064%	1h	805.27	−0.033%	$71K	$48K	12x	as long as short
Bybit BNBUSDT	+0.0085%	8h	804.96	−0.072%	$139.5M	$81.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.61	+0.009%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0096%	1h	805.54	long leg	$608K	$880K	50x
Nado BNB-PERP	+0.0100%	1h	805.50	−0.005%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.69	+0.019%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.20	−0.042%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.80	+0.032%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.20	−0.042%	$36.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.36	−0.022%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.04	−0.062%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	−0.012%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.50	−0.005%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.77	+0.029%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.19	−0.043%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.43	−0.013%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.88	+0.042%	$13K	$1.7M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	805.57	+0.003%	$8.2M	$7.6M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	806.13	+0.074%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0104%	8h	806.10	+0.069%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.98	−0.069%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.30	−0.029%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	806.40	+0.107%	$84.7M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	806.13	+0.073%	$520.7M	$804.2M	75x	as long as short
Phemex BNBUSDT	+0.0133%	8h	805.78	+0.030%	$70.3M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	805.60	+0.007%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0167%	1h	805.30	−0.030%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0169%	1h	806.29	+0.093%	$51.9M	$22.0M	10x	as long as short
dYdX BNB-USD	+0.0193%	1h	805.84	+0.037%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.14	−0.050%	$2.5M	$931K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	806.34	+0.099%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	+0.001%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.70	+0.019%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.056%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.68	+0.017%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	805.28	−0.033%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	806.37	+0.103%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0713%	1h	806.41	+0.108%	$3.0M	$5.5M	40x	as long as short