Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.043%

Price spread now: Bulk against Aster−0.012%7-day average +0.017% · 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−$19as in the Price arb table

costs, in and out, $10k−$160.157% of the position

Long on Aster Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.259%+$26 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.012%, 7d avg +0.017%

Together, before fees+0.258%+ Points / potential airdropAster: Stage 5 · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.029% cheaper against Aster than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.017%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	787.94	0.0050	pay 0.0050% / 8h	1h 08m	$6.1M	$18.8M	200x
Short	Bulk BNB-USD	787.85	0.0222	get 0.0028% / 1h	8m 46s	$639K	$831	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.012%Rate

Funding earned: $36.12
Price spread: −0.012% → +0.017%: −$2.89
Slippage, 4 orders: −$0.68
Fee Aster: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $17.55
Costs to cover: 0.157%
Break-even: 3.6 days

Slippage from Aster: live order book, 5 min ago; Bulk: live order book, 35 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, 5 min ago	0.13 bp	4.2 bp −$4	4.7 bp −$47	15.5 bp −$1,553	doesn't fit
Sell Bulk live order book, 35 min ago	0.06 bp	3.6 bp −$4	4.5 bp −$45	7.1 bp −$714	14.2 bp −$7,112

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 −0.0170% / S +0.0337%	1h	787.20	−0.094%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.52	−0.054%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.08	+0.017%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.27	−0.085%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.176%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0049%	8h	787.51	−0.055%	—	$13.4M	—	as long as short
Aster BNBUSDTlong	+0.0050%	8h	787.94	long leg	$6.1M	$18.8M	200x
Binance BNBUSDT	+0.0060%	8h	787.91	−0.004%	$490.4M	$819.8M	75x	as long as short
MEXC BNB_USDT	+0.0060%	8h	788.50	+0.071%	$81.1M	$12.1M	200x	as long as short
dYdX BNB-USD	+0.0064%	1h	787.28	−0.084%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	787.81	−0.017%	$68.8M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	−0.061%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.52	−0.053%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.00	−0.120%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.04	+0.012%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.60	−0.044%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.082%	$138.6M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.20	−0.094%	$53.6M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.044%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.35	−0.075%	$37.8M	$59.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.05	−0.113%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.08	−0.110%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.72	−0.028%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	−0.119%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.81	−0.016%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.40	−0.069%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.20	−0.094%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.26	−0.087%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.69	−0.032%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	−0.069%	$387K	$978K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.54	−0.051%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.04	+0.013%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.03	−0.116%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.25	−0.088%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	787.70	−0.031%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.80	−0.018%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0180%	8h	787.81	−0.017%	$17.7M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.23	−0.090%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USDshort	+0.0222%	1h	787.85	−0.012%	$639K	$831	10x
GRVT BNB_USDT_Perp	+0.0228%	8h	788.01	+0.008%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.73	−0.027%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.67	−0.035%	$1.5M	$145K	25x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	787.00	−0.120%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.57	−0.047%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0480%	1h	787.60	−0.043%	$67K	$39K	12x	as long as short