Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0025%/8h= −2.8% APRpaid last 24h −0.030%

Price spread now: Deribit against BloFin−0.019%57s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.304% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now −0.019%, 7d avg −0.043%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.025% dearer against BloFin than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.043%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days. The two prices were read 57 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	BloFin BNB-USDT	804.46	0.0225	pay 0.0225% / 8h	2h 31m	$18.8M	$3.1M	75x
Short	Deribit BNB_USDC-PERPETUAL	804.31	0.0200	get 0.0025% / 1h	31m 54s	$1.6M	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$5.35
Price spread: −0.019% → −0.043%: $2.48
Slippage, 4 orders: −$11.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.27
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Deribit: live order book, 2 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 BloFin live order book, 2 min ago	0.12 bp	6.1 bp −$6	7.1 bp −$71	12.3 bp −$1,228	doesn't fit
Sell Deribit live order book, 2 min ago	2.36 bp	10.1 bp −$10	16.2 bp −$162	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	803.75	−0.088%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.26	−0.025%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.90	−0.070%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.50	+0.005%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	−0.067%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.81	−0.081%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.94	−0.064%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0051%	8h	802.62	−0.228%	$4.0M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0054%	8h	803.83	−0.078%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0076%	8h	803.30	−0.144%	$139.3M	$82.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	804.19	−0.034%	$609K	$878K	50x	as long as short
Aster BNBUSDT	+0.0089%	8h	804.38	−0.010%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	804.02	−0.054%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.54	−0.114%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.06	−0.050%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.60	−0.107%	$55.1M	$115.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.10	−0.045%	$52K	$164K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	803.60	−0.107%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.59	−0.108%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.39	−0.133%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.01	−0.056%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.17	−0.036%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.68	−0.097%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	803.85	−0.076%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.97	−0.061%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.51	+0.006%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.84	−0.077%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.58	+0.015%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.36	−0.136%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.01	−0.056%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0105%	8h	804.70	+0.030%	$84.4M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0106%	8h	804.43	−0.004%	$519.0M	$803.0M	75x	as long as short
Phemex BNBUSDT	+0.0124%	8h	804.34	−0.015%	$70.2M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.93	−0.066%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0156%	1h	804.40	−0.007%	$51.7M	$21.3M	10x	as long as short
SoDEX BNB-USD	+0.0160%	1h	803.80	−0.082%	$395K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0194%	1h	803.61	−0.106%	$649K	$11K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	804.31	−0.019%	$1.6M	$165K	25x
RISEx BNB/USDC	+0.0209%	1h	804.18	−0.035%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDTlong	+0.0225%	8h	804.46	long leg	$18.8M	$3.1M	75x
Hibachi BNB/USDT-P	+0.0248%	1h	803.98	−0.060%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0268%	1h	804.28	−0.022%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	804.69	+0.029%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.52	−0.117%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.057%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0663%	1h	804.69	+0.029%	$3.0M	$5.4M	40x	as long as short