Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.047%

Price spread now: Backpack against Bitget+0.177%7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

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

costs, in and out, $10k−$240.241% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 7 days−0.248%−$25 · spread now +0.177%, 7d avg +0.165%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BNBUSDT	789.09	0.0100	pay 0.0100% / 8h	4h 57m	$76.4M	$30.3M	75x
Short	Backpack BNB_USDC_PERP	790.49	0.0100	get 0.0013% / 1h	57m 37s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.177%Rate

Funding earned: $0
Price spread: +0.177% → +0.165%: $1.22
Slippage, 4 orders: −$2.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$22.9
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Backpack: 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 Bitget live order book, 1 min ago	0.06 bp	7.1 bp −$7	10.2 bp −$102	18.4 bp −$1,844	doesn't fit
Sell Backpack live order book, 1 min ago	0.06 bp	5.3 bp −$5	10.0 bp −$100	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 −0.0182% / S +0.0347%	1h	790.36	+0.161%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.41	+0.167%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.67	+0.327%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.42	+0.169%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.028%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	790.05	+0.122%	$6.1M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0055%	8h	790.83	+0.221%	$69.2M	$50.2M	50x	as long as short
BingX BNB-USDT	+0.0056%	8h	789.51	+0.053%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.196%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0071%	8h	790.40	+0.166%	$80.3M	$12.1M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0071%	8h	790.06	+0.122%	$493.2M	$790.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	789.82	+0.093%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.35	+0.160%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.35	+0.033%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.21	+0.142%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.79	+0.088%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.52	+0.054%	$138.9M	$75.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.60	+0.065%	$53.3M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.80	+0.090%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.40	+0.039%	$35.4M	$56.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.71	+0.079%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDTlong	+0.0100%	8h	789.09	long leg	$76.4M	$30.3M	75x
Backpack BNB_USDC_PERPshort	+0.0100%	1h	790.49	+0.177%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	789.99	+0.114%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.75	+0.211%	$4.1M	$74.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.94	+0.234%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.58	+0.189%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.45	+0.173%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.23	+0.272%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.50	+0.179%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.46	+0.173%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.19	+0.139%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.97	−0.015%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.29	+0.153%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.69	+0.203%	$170K	$34K	10x	as long as short
dYdX BNB-USD	+0.0122%	1h	789.82	+0.093%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0139%	8h	791.07	+0.251%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0182%	8h	791.40	+0.293%	$113K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0191%	8h	791.18	+0.265%	$18.2M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	790.72	+0.206%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	790.11	+0.129%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	790.14	+0.133%	$2.5M	$1.2M	50x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.26	+0.148%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0338%	1h	790.78	+0.214%	$640K	$9K	10x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.92	+0.105%	$1.1M	$979K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	790.73	+0.207%	$68K	$38K	12x	as long as short