Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0144%/8h= −15.7% APRpaid last 24h −0.039%

Price spread now: Injective against BloFin+2.540%7-day average −0.284% · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.323%−$32 on $10k

Price spread, last 4 days (all we have)−3.087%−$309 · spread now +2.540%, 7d avg −0.284%

Together, before fees−3.410%−$341 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.824% dearer against BloFin than usual: you sell high and buy low (spread +2.540% now, against its 7-day average of −0.284%): +$282 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	785.15	0.0177	pay 0.0177% / 8h	2h 22m	$17.7M	$2.2M	75x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	22m 00s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +2.540%Rate

Funding earned: −$30.18
Price spread: +2.540% → −0.284%: $282.4
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $240.2
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 7 min ago; Injective: 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 BloFin live order book, 7 min ago	0.13 bp	6.1 bp −$6	6.8 bp −$68	15.8 bp −$1,576	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0192% / S +0.0356%	1h	785.14	−0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.08	−0.009%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.20	+0.006%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.23	+0.010%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	786.64	+0.190%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+2.540%	$19K	$789K	30x
BingX BNB-USDT	+0.0042%	8h	786.17	+0.130%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0053%	8h	786.36	+0.154%	$68.8M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0057%	8h	786.30	+0.146%	$80.4M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0058%	8h	786.71	+0.199%	$490.2M	$811.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	785.80	+0.082%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.62	−0.068%	$567K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.80	+0.082%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.57	+0.053%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.85	−0.038%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.62	+0.187%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.07	−0.010%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.98	+0.106%	$138.0M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.90	+0.096%	$53.4M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.20	+0.006%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.90	+0.096%	$36.5M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.62	+0.060%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.89	+0.094%	$76.0M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.28	+0.144%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	783.72	−0.182%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.31	−0.107%	$4.1M	$75.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.92	−0.029%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.24	+0.011%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.93	+0.099%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.03	+0.112%	$13K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.09	−0.007%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.15	0.000%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.44	+0.036%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.75	+0.076%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	784.35	−0.102%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0112%	1h	785.90	+0.096%	$386K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0149%	8h	785.40	+0.032%	$161K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0167%	1h	784.36	−0.101%	$159K	$62K	10x	as long as short
BloFin BNB-USDTlong	+0.0177%	8h	785.15	long leg	$17.7M	$2.2M	75x
GRVT BNB_USDT_Perp	+0.0210%	8h	785.65	+0.064%	$2.9M	$29.2M	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	785.92	+0.098%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.18	+0.131%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	785.11	−0.005%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	+0.031%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.35	+0.025%	$1.1M	$903K	20x	as long as short
Hibachi BNB/USDT-P	+0.0520%	1h	784.71	−0.056%	$67K	$39K	12x	as long as short