Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.010%

Price spread now: Bybit against Arcus−0.029%46s7-day average −0.129% · 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—prices read too far apart to compare

costs, in and out, $10k−$390.393% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.029%, 7d avg −0.129%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.100% dearer against Arcus than usual: you sell high and buy low (spread −0.029% now, against its 7-day average of −0.129%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.9 days. At the pace of the last 3 days (−0.109% in total) that is about 3.1 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BNB-USD	801.40	0.0100	pay 0.0013% / 1h	58m 48s	$53K	$134K	10x
Short	Bybit BNBUSDT	801.17	0.0066	get 0.0066% / 8h	58m 48s	$139.3M	$78.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$7.09
Price spread: −0.029% → −0.129%: $10.02
Slippage, 4 orders: −$23.81
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.37
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from Arcus: live order book, 19 min ago; Bybit: live order book, 5 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 Arcus live order book, 19 min ago	5.61 bp	13.4 bp −$13	27.6 bp −$276	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.63 bp	6.1 bp −$6	8.4 bp −$84	26.4 bp −$2,642	122.3 bp −$61.2K

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 −0.0201% / S +0.0372%	1h	800.94	−0.058%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.35	−0.006%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	801.15	−0.031%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	−0.051%	$3.0M	$28.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	802.01	+0.076%	$867K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.92	−0.060%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	800.04	−0.169%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0052%	8h	801.75	+0.044%	—	$13.3M	—	as long as short
Bybit BNBUSDTshort	+0.0066%	8h	801.17	−0.029%	$139.3M	$78.6M	75x
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.085%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	801.52	+0.015%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.48	−0.115%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.21	−0.024%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.40	0.000%	$54.7M	$113.9M	50x	as long as short
Arcus BNB-USDlong	+0.0100%	1h	801.40	long leg	$53K	$134K	10x
Gate BNB_USDT	+0.0100%	8h	801.15	−0.031%	$35.8M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.40	0.000%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.30	−0.012%	$80.9M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.55	−0.106%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	−0.105%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.78	−0.077%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.99	−0.051%	$387K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.18	−0.027%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.40	0.000%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.97	−0.054%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.71	+0.039%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	802.20	+0.100%	$6.4M	$18.9M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	801.08	−0.040%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.34	−0.008%	$385K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0114%	8h	801.43	+0.004%	$70.1M	$51.0M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	801.10	−0.037%	$109K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0119%	8h	802.60	+0.150%	$83.4M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0121%	8h	802.32	+0.115%	$502.1M	$819.0M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.079%	$172K	$34K	10x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	800.59	−0.101%	$71K	$48K	12x	as long as short
BloFin BNB-USDT	+0.0241%	8h	801.83	+0.054%	$18.2M	$2.5M	75x	as long as short
SoDEX BNB-USD	+0.0247%	1h	801.30	−0.012%	$394K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	801.05	−0.044%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.031%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.56	+0.020%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.460%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	800.45	−0.118%	$6K	$3K	40x	as long as short
Hyperliquid BNB	+0.0335%	1h	802.28	+0.110%	$51.9M	$21.6M	10x	as long as short
dYdX BNB-USD	+0.0369%	1h	800.88	−0.065%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0412%	1h	802.31	+0.114%	$2.7M	$5.7M	40x	as long as short
01 Exchange BNBUSD	+0.0448%	1h	801.71	+0.039%	$28K	$1K	10x	as long as short