Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%

Price spread now: Deribit against KuCoin+0.053%7-day average +0.055% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$13 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.053%, 7d avg +0.055%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, so right now this pair is about funding alone: +$3 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	788.62	0.0100	pay 0.0100% / 8h	2h 05m	$27.8M	$10.2M	75x
Short	Deribit BNB_USDC-PERPETUAL	789.04	0.0200	get 0.0025% / 1h	5m 50s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.053%Rate

Funding earned: $21
Price spread: +0.053% → +0.055%: −$0.16
Slippage, 4 orders: −$17.99
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$16.15
Costs to cover: 0.370%
Break-even: 12.4 days

Slippage from KuCoin: live order book, 3 min ago; Deribit: live order book, 3 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, 3 min ago	0.06 bp	9.8 bp −$10	19.6 bp −$196	52.2 bp −$5,223	doesn't fit
Sell Deribit live order book, 3 min ago	3.81 bp	7.6 bp −$8	12.6 bp −$126	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	788.50	−0.015%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.21	−0.052%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.92	+0.038%	$851K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.52	−0.012%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.088%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	789.46	+0.107%	$6.1M	$19.1M	200x	as long as short
BingX BNB-USDC	+0.0048%	8h	788.75	+0.016%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0061%	8h	789.26	+0.081%	$69.1M	$50.8M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	789.70	+0.137%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	789.39	+0.098%	$491.4M	$815.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	788.55	−0.009%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	−0.030%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.92	+0.038%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.67	+0.006%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.15	−0.060%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.43	+0.103%	$51.7M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.71	+0.011%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.70	+0.010%	$138.8M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.70	+0.010%	$53.6M	$113.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.80	+0.023%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.85	+0.029%	$36.9M	$59.5M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	788.62	long leg	$27.8M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	788.46	−0.020%	$76.3M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.09	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.41	−0.026%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.22	−0.051%	$4.1M	$75.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.81	−0.103%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.44	−0.023%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.88	+0.033%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.13	+0.064%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.22	−0.051%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.96	+0.043%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.53	−0.012%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.68	+0.008%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.87	−0.095%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0122%	1h	788.80	+0.023%	$388K	$989K	10x	as long as short
dYdX BNB-USD	+0.0138%	1h	788.46	−0.021%	$160K	$62K	10x	as long as short
Kalshi KXBNBPERP	+0.0140%	8h	789.00	+0.048%	$163K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	788.82	+0.025%	$17.6M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	789.04	+0.053%	$1.5M	$143K	25x
GRVT BNB_USDT_Perp	+0.0221%	8h	788.50	−0.015%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	789.20	+0.074%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	788.30	−0.040%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0378%	1h	788.15	−0.060%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	788.90	+0.036%	$1.1M	$902K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	788.09	−0.068%	$67K	$39K	12x	as long as short