BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0220%/8h= −24.1% APRnext payment −$0.27 per $10,000 · paid last 24h −0.032%

Price spread now: Coinbase International against Deribit+0.173%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 4 days (all we have)−0.316%−$32 · spread now +0.173%, 7d avg −0.057%

Together, before fees−0.528%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.230% dearer against Deribit than usual: you sell high and buy low (spread +0.173% now, against its 7-day average of −0.057%): +$23 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.212% in total) that is about 7.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	787.02	0.0300	pay 0.0037% / 1h	55m 07s	$1.5M	$143K	25x
Short	Coinbase International BNB-PERP-INTX	788.38	0.0080	get 0.0010% / 1h	55m 07s	$569K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.173%Rate

Funding earned: −$46.2
Price spread: +0.173% → −0.057%: $22.99
Slippage, 4 orders: −$16.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$56.58
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Coinbase International: live order book, 4 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 Deribit live order book, 4 min ago	3.43 bp	10.6 bp −$11	13.4 bp −$134	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.29 bp	7.3 bp −$7	13.3 bp −$133	doesn't fit	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 −0.0192% / S +0.0356%	1h	786.51	−0.065%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	+0.139%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.66	+0.082%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.56	−0.058%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.297%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	787.25	+0.030%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	786.76	−0.033%	—	$22.2M	—	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.60	+0.074%	$80.9M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	787.16	+0.018%	$490.1M	$815.9M	75x	as long as short
Phemex BNBUSDT	+0.0069%	8h	787.24	+0.028%	$68.9M	$51.0M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0072%	1h	787.10	+0.011%	$159K	$62K	10x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0080%	1h	788.38	+0.173%	$569K	$1.9M	50x
Lighter BNB	+0.0096%	1h	786.71	−0.039%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.64	−0.048%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	−0.046%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.98	−0.005%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.60	−0.053%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.066%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.90	−0.015%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.65	−0.046%	$37.0M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.33	−0.087%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.43	−0.074%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.71	−0.039%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.097%	$4.1M	$75.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	+0.018%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.50	−0.066%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.80	−0.028%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.14	+0.016%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	−0.040%	$387K	$986K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.77	−0.031%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.15	+0.017%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.35	−0.085%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.68	−0.043%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.80	+0.100%	$169K	$35K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0134%	1h	787.43	+0.053%	$2.2M	$6.1M	40x	as long as short
Kalshi KXBNBPERP	+0.0135%	8h	787.30	+0.036%	$169K	$2.7M	4.8x	as long as short
Hyperliquid BNB	+0.0152%	1h	787.35	+0.042%	$51.5M	$17.7M	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.35	+0.042%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.60	−0.052%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.46	+0.056%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	787.12	+0.013%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0300%	1h	787.02	long leg	$1.5M	$143K	25x
Reya BNBRUSDPERP	+0.0322%	1h	786.41	−0.077%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.197%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.98	−0.005%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	787.15	+0.017%	$67K	$39K	12x	as long as short