Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.006%

Price spread now: Variational Omni against ApeX Omni−0.145%7-day average −0.097% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.145%, 7d avg −0.097%

Together, before fees−0.057%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.048% cheaper against ApeX Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	803.32	0.0100	pay 0.0013% / 1h	47m 32s	$158K	$437K	50x
Short	Variational Omni BNB	802.15	0.0063	get 0.0063% / 8h	2h 47m	$4.1M	$5.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.145%Rate

Funding earned: −$7.69
Price spread: −0.145% → −0.097%: −$4.83
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.52
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 40 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 40 min ago	5.28 bp	10.3 bp −$10	31.3 bp −$313	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.33 bp	doesn't fit	5.5 bp −$55	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 −0.0195% / S +0.0371%	1h	802.58	−0.092%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.06	−0.032%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.69	−0.078%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.30	−0.002%	$116K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.32	0.000%	$868K	$3.0M	30x	as long as short
Deribit BNB_USDC-PERPETUAL	0.0000%	1h	803.13	−0.024%	$1.6M	$167K	25x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.61	−0.089%	$9.7M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.89	−0.054%	$2.5M	$916K	50x	as long as short
Variational Omni BNBshort	+0.0063%	8h	802.15	−0.145%	$4.1M	$5.3M	—
BingX BNB-USDT	+0.0068%	8h	802.74	−0.072%	—	$34.5M	—	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0086%	8h	803.22	−0.013%	$6.4M	$18.9M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.083%	$608K	$890K	50x	as long as short
Bybit BNBUSDT	+0.0094%	8h	802.03	−0.161%	$138.7M	$82.6M	75x	as long as short
Lighter BNB	+0.0096%	1h	802.79	−0.066%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.43	−0.111%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.88	−0.055%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.102%	$54.9M	$115.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.70	−0.077%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.45	−0.108%	$35.9M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.55	−0.096%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.35	−0.121%	$78.9M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	802.91	−0.050%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	803.32	long leg	$158K	$437K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	802.58	−0.092%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.72	−0.075%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.85	−0.058%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.12	−0.025%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	802.70	−0.077%	$395K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.37	−0.118%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.45	+0.016%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0101%	8h	803.70	+0.047%	$84.3M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0102%	8h	803.32	0.000%	$518.2M	$804.3M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	802.36	−0.120%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.83	−0.061%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0121%	8h	803.10	−0.027%	$70.1M	$51.6M	50x	as long as short
Phoenix BNB	+0.0125%	1h	802.78	−0.067%	$173K	$35K	10x	as long as short
Bulk BNB-USD	+0.0161%	1h	803.45	+0.016%	$649K	$11K	10x	as long as short
Hyperliquid BNB	+0.0162%	1h	803.34	+0.002%	$51.6M	$21.3M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	803.05	−0.033%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0209%	1h	802.35	−0.121%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0222%	8h	802.79	−0.066%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.53	−0.099%	$71K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	803.48	+0.020%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	802.43	−0.111%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.199%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0698%	1h	803.87	+0.068%	$3.0M	$5.3M	40x	as long as short