Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.046%

Price spread now: Bulk against Binance−0.001%7-day average +0.015% · 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−$180.176% of the position

Long on Binance Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.241%+$24 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now −0.001%, 7d avg +0.015%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	805.56	0.0118	pay 0.0118% / 8h	1h 51m	$520.5M	$805.6M	75x
Short	Bulk BNB-USD	805.55	0.0274	get 0.0034% / 1h	51m 30s	$651K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Binance. 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 BinancebpFee BulkbpOrdersPrice spread, now −0.001%Rate

Funding earned: $32.86
Price spread: −0.001% → +0.015%: −$1.64
Slippage, 4 orders: −$0.62
Fee Binance: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $13.6
Costs to cover: 0.176%
Break-even: 4.1 days

Slippage from Binance: live order book, 7 min ago; Bulk: live order book, 33 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 Binance live order book, 7 min ago	0.06 bp	5.3 bp −$5	7.1 bp −$71	16.9 bp −$1,694	doesn't fit
Sell Bulk live order book, 33 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	7.4 bp −$741	16.5 bp −$8,254

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	804.97	−0.073%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.32	−0.029%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.78	+0.152%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.70	+0.018%	$107K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.28	−0.034%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.01	−0.068%	$9.8M	—	150x	as long as short
Hibachi BNB/USDT-P	+0.0040%	1h	805.13	−0.054%	$71K	$48K	12x	as long as short
Variational Omni BNB	+0.0044%	8h	805.28	−0.034%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0057%	8h	804.97	−0.073%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	804.62	−0.116%	$139.3M	$82.0M	75x	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	805.09	−0.058%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	+0.025%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.45	−0.138%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.12	−0.054%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.50	−0.131%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.20	−0.044%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.70	−0.106%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.69	−0.108%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.28	−0.159%	$78.6M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.71	+0.019%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	+0.005%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.65	−0.113%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.93	−0.078%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.18	−0.047%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.54	−0.003%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.17	−0.048%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.53	−0.003%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0101%	8h	805.48	−0.009%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.38	−0.146%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.25	−0.038%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	805.60	+0.005%	$84.5M	$13.3M	200x	as long as short
Binance BNBUSDTlong	+0.0118%	8h	805.56	long leg	$520.5M	$805.6M	75x
Phemex BNBUSDT	+0.0137%	8h	805.63	+0.009%	$70.3M	$51.8M	50x	as long as short
Hyperliquid BNB	+0.0141%	1h	805.31	−0.030%	$51.8M	$22.0M	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.39	−0.021%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0155%	1h	805.10	−0.057%	$396K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0166%	1h	805.13	−0.053%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.03	−0.065%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.07	−0.060%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USDshort	+0.0274%	1h	805.55	−0.001%	$651K	$14K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.53	−0.004%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.058%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.05	−0.063%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.28	−0.159%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.56	0.000%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0716%	1h	806.12	+0.070%	$3.0M	$5.5M	40x	as long as short