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: Coinbase International against Paradex−0.006%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−$23as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Paradex Short on Coinbase International

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)−0.221%−$22 · spread now −0.006%, 7d avg −0.076%

Together, before fees−0.289%+ Points / potential airdropParadex: Active · farm board−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.069% dearer against Paradex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.076%. Mind the row above: over the last 4 days funding on this pair cost −0.069%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BNB-USD-PERP	787.69	0.0100	pay 0.0100% / 8h	5h 07m	$78K	$1.3M	50x
Short	Coinbase International BNB-PERP-INTX	787.64	0.0120	get 0.0015% / 1h	7m 47s	$545K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now −0.006%Rate

Funding earned: $4.2
Price spread: −0.006% → −0.076%: $6.93
Slippage, 4 orders: −$15.67
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$18.54
Costs to cover: 0.297%
Break-even: 37.9 days

Slippage from Paradex: 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 Paradex live order book, 4 min ago	4.70 bp	6.7 bp −$7	131.7 bp −$1,317	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	1.52 bp	6.6 bp −$7	12.0 bp −$120	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	786.81	−0.112%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0085%	1h	787.10	−0.074%	$2.7M	$1.4M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.94	+0.032%	$4K	—	25x	as long as short
Bybit BNBUSDT	−0.0031%	8h	786.62	−0.136%	$138.6M	$65.6M	75x	as long as short
BingX BNB-USDT	−0.0027%	8h	787.21	−0.061%	—	$50.3M	—	as long as short
Aster BNBUSDT	0.0000%	8h	787.70	+0.002%	$6.0M	$16.8M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.40	−0.037%	$2.9M	$26.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.60	−0.011%	$155K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.96	+0.034%	$850K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.09	−0.077%	$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	788.50	+0.103%	$83.5M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0011%	8h	787.66	−0.003%	$480.9M	$756.4M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.209%	$19K	$789K	30x	as long as short
BloFin BNB-USDT	+0.0045%	8h	787.51	−0.023%	$18.5M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0089%	8h	787.78	+0.011%	$68.4M	$50.5M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.24	−0.057%	$2.7M	$3.4M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.95	−0.094%	$1.4M	$2.3M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.69	0.000%	$51.9M	$16.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.43	−0.033%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.100%	$53.4M	$101.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	−0.037%	$57K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.10	−0.075%	$42.0M	$54.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.82	−0.110%	$28.1M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.76	−0.118%	$75.8M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.47	−0.028%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.26	−0.182%	$4.3M	$4.4M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.55	−0.018%	$4.1M	$71.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.30	−0.050%	$158K	$459K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.02	−0.085%	$128K	$905K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.18	−0.065%	$264K	$297K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.20	−0.062%	$31K	$10K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.70	+0.001%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.050%	$387K	$926K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.44	−0.032%	$1.5M	$126K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.19	−0.063%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERPlong	+0.0100%	8h	787.69	long leg	$78K	$1.3M	50x
Extended BNB-USD	+0.0104%	1h	786.51	−0.150%	$1.8M	$5.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.01	−0.086%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0120%	1h	787.78	+0.011%	$158K	$45K	10x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0120%	1h	787.64	−0.006%	$545K	$1.9M	50x
01 Exchange BNBUSD	+0.0224%	1h	787.67	−0.003%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0289%	1h	787.73	+0.005%	$638K	$10K	10x	as long as short
Hibachi BNB/USDT-P	+0.0304%	1h	787.14	−0.070%	$67K	$37K	12x	as long as short
Reya BNBRUSDPERP	+0.0316%	1h	786.63	−0.135%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.36	−0.042%	$1.1M	$888K	20x	as long as short
dYdX BNB-USD	+0.0910%	1h	786.85	−0.106%	$158K	$34K	10x	as long as short