Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.010%

Price spread now: Bybit against Aevo−0.048%7-day average −0.041% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.048%, 7d avg −0.041%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BNB-PERP	794.03	0.0104	pay 0.0013% / 1h	32m 08s	$381K	$110K	10x
Short	Bybit BNBUSDT	793.65	0.0100	get 0.0100% / 8h	6h 32m	$138.4M	$76.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. 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 AevobpFee BybitbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$0.84
Price spread: −0.048% → −0.041%: −$0.71
Slippage, 4 orders: −$16.04
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.59
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from Aevo: live order book, 37 min ago; Bybit: live order book, 2 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 Aevo live order book, 37 min ago	3.13 bp	15.7 bp −$16	19.7 bp −$197	23.2 bp −$2,321	doesn't fit
Sell Bybit live order book, 2 min ago	0.63 bp	6.7 bp −$7	9.6 bp −$96	25.2 bp −$2,520	107.2 bp −$53.6K

BNB on 45 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 −0.0167% / S +0.0335%	1h	794.00	−0.004%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.86	−0.021%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.90	−0.017%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	793.56	−0.059%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.93	−0.013%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0021%	8h	792.33	−0.215%	$4.0M	$4.9M	—	as long as short
Gate BNB_USDT	+0.0026%	8h	793.70	−0.042%	$35.4M	$55.8M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.393%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	794.65	+0.078%	$6.1M	$19.8M	200x	as long as short
GRVT BNB_USDT_Perp	+0.0045%	8h	793.31	−0.091%	$3.0M	$28.8M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDC	+0.0049%	8h	793.92	−0.014%	—	$13.3M	—	as long as short
Phemex BNBUSDT	+0.0054%	8h	794.45	+0.053%	$69.5M	$50.7M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.360%	$607K	$1.1M	50x	as long as short
dYdX BNB-USD	+0.0063%	1h	793.27	−0.096%	$160K	$63K	10x	as long as short
MEXC BNB_USDT	+0.0063%	8h	794.60	+0.072%	$82.4M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	794.37	+0.043%	$494.2M	$813.1M	75x	as long as short
Phoenix BNB	+0.0088%	1h	792.22	−0.228%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.94	−0.011%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.98	−0.007%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.30	−0.092%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.18	+0.019%	$52.0M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	794.05	+0.003%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	793.65	−0.048%	$138.4M	$76.2M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	793.60	−0.054%	$53.2M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	794.10	+0.009%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.52	−0.064%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.58	−0.057%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.22	−0.103%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.21	−0.104%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.04	+0.001%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.15	+0.014%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.60	+0.071%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	794.10	+0.009%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.11	−0.117%	$8.1M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	794.11	+0.010%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.59	−0.055%	$1.7M	$5.9M	50x	as long as short
Aevo BNB-PERPlong	+0.0104%	1h	794.03	long leg	$381K	$110K	10x
RISEx BNB/USDC	+0.0131%	1h	794.12	+0.011%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	793.90	−0.017%	$111K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0175%	1h	792.60	−0.180%	$642K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	794.57	+0.068%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.81	−0.028%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0397%	1h	794.38	+0.044%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	794.48	+0.056%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	793.29	−0.093%	$68K	$38K	12x	as long as short