Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.047%

Price spread now: Backpack against Aster+0.010%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.192%+$19 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.010%, 7d avg +0.039%

Together, before fees+0.124%+ Points / potential airdropAster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.029% cheaper against Aster than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.039%). If the spread goes back, that is −$3 on $10k: about 36 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	788.42	0.0034	pay 0.0034% / 8h	4h 06m	$6.1M	$18.7M	200x
Short	Backpack BNB_USDC_PERP	788.50	0.0100	get 0.0013% / 1h	6m 09s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.010%Rate

Funding earned: $13.76
Price spread: +0.010% → +0.039%: −$2.93
Slippage, 4 orders: −$7.29
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.46
Costs to cover: 0.253%
Break-even: 14.4 days

Slippage from Aster: live order book, 3 min ago; Backpack: live order book, 3 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 Aster live order book, 3 min ago	0.70 bp	4.9 bp −$5	6.4 bp −$64	18.7 bp −$1,870	doesn't fit
Sell Backpack live order book, 3 min ago	0.06 bp	10.6 bp −$11	13.1 bp −$131	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 −0.0189% / S +0.0353%	1h	787.85	−0.072%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	−0.039%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.82	+0.051%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.90	−0.066%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.114%	$19K	$789K	30x	as long as short
Aster BNBUSDTlong	+0.0034%	8h	788.42	long leg	$6.1M	$18.7M	200x
BingX BNB-USDT	+0.0047%	8h	788.10	−0.041%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0056%	8h	788.58	+0.020%	$69.0M	$50.2M	50x	as long as short
MEXC BNB_USDT	+0.0057%	8h	788.90	+0.061%	$80.0M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0058%	8h	788.61	+0.024%	$492.2M	$790.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.131%	$582K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.20	−0.028%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.07	−0.044%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.60	−0.104%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.57	+0.019%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.11	−0.039%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.84	−0.074%	$138.6M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.80	−0.079%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.10	−0.041%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.95	−0.060%	$35.5M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.86	−0.071%	$28.0M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.70	−0.091%	$76.2M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	788.50	+0.010%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	787.71	−0.090%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.53	+0.140%	$4.1M	$73.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.35	+0.118%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.72	−0.089%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.11	−0.039%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.56	+0.018%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.10	−0.041%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.04	−0.048%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.32	−0.013%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.63	−0.101%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.07	−0.044%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.06	+0.081%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0118%	1h	787.86	−0.071%	$159K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0154%	8h	789.71	+0.164%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0177%	8h	788.40	−0.003%	$132K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0178%	8h	788.59	+0.022%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	789.05	+0.080%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.43	+0.001%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	787.88	−0.069%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.47	+0.006%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	787.55	−0.110%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0368%	1h	788.26	−0.020%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	788.18	−0.030%	$1.1M	$967K	20x	as long as short