Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0034%/8h= +3.8% APRpaid last 24h +0.047%

Price spread now: Backpack against KuCoin+0.156%7-day average +0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 7 days+0.041%+$4 · spread now +0.156%, 7d avg +0.146%

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

The price spread sits at its 7-day average of +0.146%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	786.20	0.0100	pay 0.0100% / 8h	1h 54m	$27.7M	$10.2M	75x
Short	Backpack BNB_USDC_PERP	787.43	0.0134	get 0.0017% / 1h	54m 40s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.156%Rate

Funding earned: $7.24
Price spread: +0.156% → +0.146%: $1
Slippage, 4 orders: −$11.06
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$24.82
Costs to cover: 0.331%
Break-even: 31.0 days

Slippage from KuCoin: live order book, 4 min ago; Backpack: 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 KuCoin live order book, 4 min ago	0.82 bp	9.5 bp −$10	17.3 bp −$173	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.06 bp	5.1 bp −$5	8.2 bp −$82	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	+0.039%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	+0.243%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.66	+0.186%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.56	+0.046%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.403%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	787.09	+0.114%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.97	+0.098%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.30	+0.140%	$80.9M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	786.96	+0.097%	$490.0M	$815.9M	75x	as long as short
Phemex BNBUSDT	+0.0069%	8h	787.24	+0.132%	$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	+0.0074%	1h	786.44	+0.031%	$159K	$62K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.277%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.58	+0.048%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.64	+0.056%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	+0.057%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.69	+0.062%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	+0.025%	$138.3M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.20	0.000%	$53.5M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.064%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	+0.045%	$37.0M	$58.6M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	786.20	long leg	$27.7M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	786.25	+0.006%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.71	+0.065%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.201%	$4.1M	$75.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	+0.122%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.50	+0.038%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.80	+0.076%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.14	+0.120%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	+0.064%	$387K	$986K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.77	+0.073%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.75	+0.070%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.25	+0.006%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.68	+0.061%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.80	+0.204%	$169K	$35K	10x	as long as short
Backpack BNB_USDC_PERPshort	+0.0134%	1h	787.43	+0.156%	$2.2M	$6.1M	40x
Kalshi KXBNBPERP	+0.0135%	8h	787.30	+0.140%	$169K	$2.7M	4.8x	as long as short
Hyperliquid BNB	+0.0143%	1h	787.08	+0.112%	$51.5M	$17.6M	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.35	+0.146%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.60	+0.051%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.46	+0.160%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	787.12	+0.117%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.02	+0.104%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.41	+0.026%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.301%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.98	+0.099%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	787.15	+0.121%	$67K	$39K	12x	as long as short