Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.007%

Price spread now: Coinbase International against edgeX−0.041%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now −0.041%, 7d avg −0.079%

Together, before fees−0.218%+ Points / potential airdropedgeX: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.038% dearer against edgeX than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.079%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.4 days. At the pace of the last 7 days (−0.109% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	787.75	0.0100	pay 0.0050% / 4h	1h 03m	$4.1M	$76.5M	30x
Short	Coinbase International BNB-PERP-INTX	787.43	0.0080	get 0.0010% / 1h	3m 38s	$564K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$4.2
Price spread: −0.041% → −0.079%: $3.84
Slippage, 4 orders: −$9.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$29.17
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from edgeX: live order book, just now; Coinbase International: live order book, 5 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 edgeX live order book, just now	2.54 bp	7.0 bp −$7	7.0 bp −$70	10.4 bp −$1,041	doesn't fit
Sell Coinbase International live order book, 5 min ago	1.84 bp	6.8 bp −$7	13.4 bp −$134	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 −0.0170% / S +0.0337%	1h	786.90	−0.109%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.39	−0.046%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.83	+0.010%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.93	−0.105%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.201%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0048%	8h	787.15	−0.077%	—	$22.3M	—	as long as short
Aster BNBUSDT	+0.0049%	8h	787.50	−0.032%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0058%	8h	788.40	+0.082%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0058%	8h	787.52	−0.030%	$489.5M	$820.8M	75x	as long as short
dYdX BNB-USD	+0.0061%	1h	787.30	−0.057%	$160K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	787.59	−0.021%	$68.8M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0080%	1h	787.43	−0.041%	$564K	$1.9M	50x
Lighter BNB	+0.0096%	1h	787.18	−0.073%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.90	−0.108%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.66	−0.012%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.30	−0.058%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.79	−0.122%	$138.4M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.80	−0.121%	$53.6M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.20	−0.070%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.00	−0.096%	$37.9M	$59.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.68	−0.136%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.80	−0.121%	$76.8M	$31.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.39	−0.046%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.51	−0.031%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	787.75	long leg	$4.1M	$76.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	787.69	−0.008%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.88	−0.111%	$132K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.98	−0.098%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.05	−0.089%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.54	−0.027%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.20	−0.070%	$387K	$978K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.39	−0.046%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.51	−0.030%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.68	−0.137%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.95	−0.103%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0118%	8h	787.60	−0.019%	$171K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.76	+0.001%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0179%	8h	787.77	+0.002%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.39	−0.047%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.86	−0.114%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0222%	1h	787.85	+0.012%	$639K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.98	+0.029%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.51	−0.031%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.75	−0.127%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.24	−0.065%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	787.88	+0.016%	$67K	$39K	12x	as long as short