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: OKX against Coinbase International−0.034%7-day average −0.010% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 3 days (all we have)+0.124%+$12 · spread now −0.034%, 7d avg −0.010%

Together, before fees+0.187%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.024% cheaper against Coinbase International than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	799.17	0.0096	pay 0.0012% / 1h	7m 12s	$605K	$994K	50x
Short	OKX BNB-USDT-SWAP	798.90	0.0100	get 0.0100% / 8h	1h 07m	$54.6M	$113.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0.84
Price spread: −0.034% → −0.010%: −$2.4
Slippage, 4 orders: −$10.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.75
Costs to cover: 0.302%
Break-even: 271.5 days

Slippage from Coinbase International: live order book, 11 min ago; OKX: 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, 11 min ago	3.62 bp	9.0 bp −$9	13.2 bp −$132	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.63 bp	5.6 bp −$6	7.6 bp −$76	16.7 bp −$1,673	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	799.09	−0.010%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.59	+0.053%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.27	+0.138%	$3.0M	$29.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.56	+0.174%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.05	−0.015%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0030%	8h	799.14	−0.003%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0052%	8h	799.24	+0.009%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0065%	8h	798.84	−0.041%	$138.8M	$78.7M	75x	as long as short
Aster BNBUSDT	+0.0096%	8h	799.80	+0.079%	$6.3M	$18.9M	200x	as long as short
Lighter BNB	+0.0096%	1h	799.52	+0.043%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTXlong	+0.0096%	1h	799.17	long leg	$605K	$994K	50x
Nado BNB-PERP	+0.0100%	1h	798.80	−0.046%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.06	−0.013%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	798.90	−0.034%	$54.6M	$113.6M	50x
Arcus BNB-USD	+0.0100%	1h	799.60	+0.054%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.90	−0.034%	$35.7M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.06	−0.014%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.74	−0.054%	$80.6M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.16	+0.124%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.53	+0.170%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.14	−0.004%	$121K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.07	−0.013%	$386K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.18	+0.002%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.79	+0.078%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	+0.016%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.99	−0.022%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.54	+0.046%	$78K	$19K	50x	as long as short
Kalshi KXBNBPERP	+0.0100%	8h	799.40	+0.029%	$116K	$2.9M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	798.56	−0.076%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.07	−0.012%	$384K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0116%	8h	800.20	+0.129%	$83.1M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0116%	8h	799.90	+0.091%	$502.4M	$818.2M	75x	as long as short
Phemex BNBUSDT	+0.0117%	8h	799.74	+0.071%	$69.9M	$51.2M	50x	as long as short
Phoenix BNB	+0.0155%	1h	800.03	+0.108%	$172K	$35K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.52	+0.044%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.19	+0.003%	$2.6M	$965K	50x	as long as short
Hibachi BNB/USDT-P	+0.0216%	1h	799.27	+0.012%	$71K	$48K	12x	as long as short
BloFin BNB-USDT	+0.0236%	8h	799.83	+0.083%	$18.3M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0298%	1h	800.20	+0.130%	$650K	$21K	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.741%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	799.45	+0.034%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0319%	1h	799.95	+0.098%	$51.7M	$21.6M	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	799.61	+0.055%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	798.81	−0.046%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0351%	1h	799.29	+0.015%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0570%	1h	799.79	+0.078%	$2.7M	$5.7M	40x	as long as short