Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h +0.006%

Price spread now: Deribit against Binance−0.022%7-day average −0.040% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 3 days (all we have)−0.116%−$12 · spread now −0.022%, 7d avg −0.040%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.176%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	803.30	0.0102	pay 0.0102% / 8h	2h 47m	$518.1M	$806.7M	75x
Short	Deribit BNB_USDC-PERPETUAL	803.13	0	get 0.0000% / 1h	47m 59s	$1.6M	$167K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$21.39
Price spread: −0.022% → −0.040%: $1.82
Slippage, 4 orders: −$7.39
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$43.97
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Deribit: live order book, 1 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, 11 min ago	0.06 bp	5.1 bp −$5	5.4 bp −$54	14.6 bp −$1,460	42.2 bp −$21.1K
Sell Deribit live order book, 1 min ago	0.69 bp	7.4 bp −$7	14.4 bp −$144	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 −0.0195% / S +0.0371%	1h	802.58	−0.090%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.66	−0.080%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.08	−0.027%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.30	0.000%	$116K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.05	−0.031%	$868K	$3.0M	30x	as long as short
Deribit BNB_USDC-PERPETUALshort	0.0000%	1h	803.13	−0.022%	$1.6M	$167K	25x
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.61	−0.087%	$9.7M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.89	−0.051%	$2.5M	$916K	50x	as long as short
Variational Omni BNB	+0.0063%	8h	802.15	−0.143%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0070%	8h	802.53	−0.096%	—	$13.3M	—	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0085%	8h	803.19	−0.013%	$6.4M	$18.9M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.086%	$608K	$890K	50x	as long as short
Bybit BNBUSDT	+0.0096%	8h	802.10	−0.149%	$138.8M	$82.8M	75x	as long as short
Lighter BNB	+0.0096%	1h	802.91	−0.049%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.25	−0.131%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.65	−0.081%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.100%	$54.9M	$115.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.70	−0.075%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.45	−0.106%	$35.9M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.51	−0.098%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.35	−0.118%	$78.9M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.76	+0.057%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.32	+0.002%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.45	−0.106%	$118K	$869K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.72	−0.072%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.85	−0.056%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.12	−0.023%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	802.70	−0.075%	$395K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.37	−0.116%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.09	−0.027%	$78K	$19K	50x	as long as short
Binance BNBUSDTlong	+0.0102%	8h	803.30	long leg	$518.1M	$806.7M	75x
MEXC BNB_USDT	+0.0102%	8h	803.80	+0.062%	$84.3M	$13.5M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.31	−0.124%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.83	−0.058%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0121%	8h	803.10	−0.025%	$70.1M	$51.6M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.11	−0.024%	$173K	$35K	10x	as long as short
Bulk BNB-USD	+0.0161%	1h	803.45	+0.019%	$649K	$11K	10x	as long as short
Hyperliquid BNB	+0.0162%	1h	803.32	+0.002%	$51.6M	$21.3M	10x	as long as short
dYdX BNB-USD	+0.0207%	1h	802.35	−0.118%	$170K	$55K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	802.86	−0.055%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0222%	8h	802.79	−0.063%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.53	−0.096%	$71K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	803.23	−0.009%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	802.26	−0.129%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.202%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0698%	1h	803.87	+0.071%	$3.0M	$5.3M	40x	as long as short