Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.006%

Price spread now: Paradex against Coinbase International−0.012%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.239%+$24 · spread now −0.012%, 7d avg +0.076%

Together, before fees+0.308%+ Points / potential airdropParadex: Active · farm board+$31 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 Paradex is 0.088% cheaper against Coinbase International than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.076%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.069%, 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	787.64	0.0120	pay 0.0015% / 1h	7m 03s	$545K	$1.9M	50x
Short	Paradex BNB-USD-PERP	787.54	0.0100	get 0.0100% / 8h	5h 07m	$78K	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$4.2
Price spread: −0.012% → +0.076%: −$8.78
Slippage, 4 orders: −$15.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$42.78
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Paradex: live order book, just now.

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	1.52 bp	9.6 bp −$10	15.5 bp −$155	doesn't fit	doesn't fit
Sell Paradex live order book, just now	4.76 bp	6.8 bp −$7	132.1 bp −$1,321	doesn't fit	doesn't fit

BNB on 46 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	787.11	−0.067%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0085%	1h	787.11	−0.067%	$2.7M	$1.4M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.94	+0.038%	$4K	—	25x	as long as short
Bybit BNBUSDT	−0.0033%	8h	786.79	−0.108%	$138.6M	$65.5M	75x	as long as short
BingX BNB-USDC	−0.0023%	8h	787.13	−0.065%	—	$13.4M	—	as long as short
Aster BNBUSDT	0.0000%	8h	787.72	+0.010%	$6.0M	$16.8M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.51	−0.017%	$2.9M	$26.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.50	−0.018%	$155K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.11	+0.060%	$850K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.09	−0.070%	$9.5M	—	150x	as long as short

Show all 46 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0011%	8h	788.70	+0.135%	$83.5M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0011%	8h	787.86	+0.028%	$481.0M	$756.3M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.215%	$19K	$789K	30x	as long as short
BloFin BNB-USDT	+0.0044%	8h	787.75	+0.014%	$18.5M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0087%	8h	787.77	+0.017%	$68.4M	$50.5M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.29	−0.045%	$2.7M	$3.4M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.83	−0.103%	$1.4M	$2.3M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.69	+0.006%	$51.9M	$16.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.32	−0.041%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.094%	$53.4M	$101.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	−0.030%	$57K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.10	−0.069%	$42.0M	$54.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.91	−0.093%	$28.1M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.82	−0.104%	$75.8M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.62	−0.003%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.26	−0.176%	$4.3M	$4.4M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.37	−0.034%	$4.1M	$71.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.35	−0.037%	$158K	$459K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.98	−0.084%	$128K	$905K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.05	−0.075%	$264K	$297K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.20	−0.056%	$31K	$10K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.70	+0.007%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.043%	$387K	$925K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.39	−0.032%	$1.5M	$126K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.19	−0.057%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERPshort	+0.0100%	8h	787.54	−0.012%	$78K	$1.3M	50x
Extended BNB-USD	+0.0104%	1h	786.60	−0.133%	$1.8M	$5.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.00	−0.082%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0120%	1h	787.71	+0.009%	$158K	$45K	10x	as long as short
Coinbase International BNB-PERP-INTXlong	+0.0120%	1h	787.64	long leg	$545K	$1.9M	50x
01 Exchange BNBUSD	+0.0224%	1h	787.68	+0.005%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0289%	1h	787.73	+0.011%	$638K	$10K	10x	as long as short
Hibachi BNB/USDT-P	+0.0304%	1h	787.14	−0.063%	$67K	$37K	12x	as long as short
Reya BNBRUSDPERP	+0.0316%	1h	786.63	−0.129%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.34	−0.038%	$1.1M	$888K	20x	as long as short
dYdX BNB-USD	+0.0910%	1h	786.85	−0.100%	$158K	$34K	10x	as long as short