Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.047%

Price spread now: Backpack against ApeX Omni−0.024%84s7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.338% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.268%−$27 · spread now −0.024%, 7d avg −0.013%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	792.28	0.0100	pay 0.0013% / 1h	18m 16s	$159K	$440K	50x
Short	Backpack BNB_USDC_PERP	792.09	0.0100	get 0.0013% / 1h	18m 16s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.013%: −$1.14
Slippage, 4 orders: −$13.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.94
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 44 min ago; Backpack: live order book, 1 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 ApeX Omni live order book, 44 min ago	6.20 bp	11.2 bp −$11	35.1 bp −$351	doesn't fit	doesn't fit
Sell Backpack live order book, 1 min ago	0.06 bp	5.1 bp −$5	8.9 bp −$89	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 −0.0167% / S +0.0335%	1h	791.22	−0.134%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.73	−0.069%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.12	−0.020%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.25	−0.130%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.617%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	−0.032%	$615K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0051%	8h	791.98	−0.038%	$6.2M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0053%	8h	792.05	−0.029%	$69.4M	$50.6M	50x	as long as short
BingX BNB-USDT	+0.0061%	8h	791.95	−0.042%	—	$34.3M	—	as long as short
Binance BNBUSDT	+0.0076%	8h	792.18	−0.013%	$494.9M	$794.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0076%	8h	792.50	+0.028%	$80.5M	$12.5M	200x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.45	−0.105%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.81	−0.059%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.36	−0.116%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.30	−0.124%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	792.39	+0.014%	$52.0M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.64	−0.081%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.55	−0.092%	$139.3M	$77.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.60	−0.086%	$53.7M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.60	−0.086%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.60	−0.086%	$35.4M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.55	−0.092%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.56	−0.091%	$77.0M	$29.9M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	792.09	−0.024%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	791.30	−0.123%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	792.18	−0.013%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	792.28	long leg	$159K	$440K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	791.33	−0.120%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.55	−0.092%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.98	−0.038%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.60	−0.086%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.71	−0.072%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.15	−0.017%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.04	−0.156%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.34	−0.119%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	792.03	−0.032%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0144%	8h	791.54	−0.094%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	792.00	−0.035%	$83K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0196%	8h	791.81	−0.059%	$18.1M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0216%	1h	791.12	−0.146%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	792.02	−0.033%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.75	−0.067%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.14	−0.144%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.75	−0.068%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0403%	1h	790.49	−0.226%	$640K	$6K	10x	as long as short
Hibachi BNB/USDT-P	+0.0600%	1h	791.67	−0.077%	$68K	$38K	12x	as long as short