Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0251%/8h= +27.5% APRpaid last 24h +0.055%

Price spread now: Reya against Aster−0.083%46s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.083% cheaper against Aster than usual: you would sell low and buy high (spread −0.083% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 26 hours of funding at the current rate (+$8 a day). 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	Aster BNBUSDT	798.77	0.0080	pay 0.0080% / 8h	7m 49s	$6.2M	$19.1M	200x
Short	Reya BNBRUSDPERP	798.11	0.0331	get 0.0041% / 1h	7m 49s	$6K	$3K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.083%Rate

Funding earned: $52.71
Price spread: −0.083% → 0.000%: −$8.3
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $30.41
Costs to cover: 0.140%
Break-even: 3.0 days

Slippage unknown: Aster: live order book, 1 min ago; Reya: no order-book sample. 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 Aster live order book, 1 min ago	0.56 bp	4.7 bp −$5	6.4 bp −$64	19.0 bp −$1,901	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	798.59	−0.022%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.54	−0.029%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.47	−0.037%	$2.5M	$974K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.45	−0.040%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.90	+0.016%	$863K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.56	−0.026%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0008%	8h	797.53	−0.155%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0033%	8h	798.39	−0.048%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0037%	8h	798.10	−0.084%	$138.5M	$76.8M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.14	−0.079%	$601K	$984K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDTlong	+0.0080%	8h	798.77	long leg	$6.2M	$19.1M	200x
Lighter BNB	+0.0096%	1h	798.51	−0.033%	$2.8M	$4.1M	20x	as long as short
Phemex BNBUSDT	+0.0097%	8h	799.03	+0.033%	$69.9M	$50.6M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.15	−0.078%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.40	−0.047%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.10	−0.084%	$54.3M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.50	−0.034%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.15	−0.078%	$35.7M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.48	−0.036%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.25	−0.065%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.97	+0.025%	$4.1M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.19	+0.053%	$161K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.38	−0.049%	$116K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.41	−0.045%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.67	−0.013%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.08	+0.038%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.80	+0.004%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.97	+0.025%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.43	−0.043%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.79	+0.002%	$78K	$19K	50x	as long as short
Binance BNBUSDT	+0.0101%	8h	798.76	−0.001%	$497.5M	$817.7M	75x	as long as short
MEXC BNB_USDT	+0.0102%	8h	799.20	+0.054%	$83.0M	$13.6M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	798.14	−0.078%	$1.7M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.73	−0.005%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	799.20	+0.054%	$172K	$36K	10x	as long as short
Kalshi KXBNBPERP	+0.0145%	8h	799.00	+0.029%	$90K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	798.58	−0.024%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	+0.007%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0223%	8h	798.84	+0.009%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0234%	1h	799.11	+0.043%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.28	−0.061%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	799.01	+0.030%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.791%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERPshort	+0.0331%	1h	798.11	−0.083%	$6K	$3K	40x
dYdX BNB-USD	+0.0338%	1h	798.04	−0.092%	$161K	$63K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0343%	1h	799.36	+0.074%	$2.7M	$5.7M	40x	as long as short