Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.038%

Price spread now: Polymarket Perps against BloFin−0.167%105s7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as 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−$260.258% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.167%, 7d avg −0.088%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Polymarket Perps is 0.079% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.088%). Swap the legs. The two prices were read 105 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	789.97	0.0188	pay 0.0188% / 8h	4h 49m	$18.2M	$2.2M	75x
Short	Polymarket Perps BNB-USD	788.65	0.0100	get 0.0013% / 1h	49m 32s	$133K	$952K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$18.51
Price spread: −0.167% → −0.088%: −$7.9
Slippage, 4 orders: −$5.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$52.21
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Polymarket Perps: live order book, 9 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, 4 min ago	0.19 bp	6.2 bp −$6	8.2 bp −$82	17.1 bp −$1,705	doesn't fit
Sell Polymarket Perps live order book, 9 min ago	1.58 bp	7.1 bp −$7	8.5 bp −$85	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 −0.0183% / S +0.0348%	1h	789.31	−0.084%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.46	+0.062%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.15	+0.023%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.29	−0.086%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.914%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	789.41	−0.071%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0056%	8h	789.01	−0.122%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.085%	$583K	$1.9M	50x	as long as short
Binance BNBUSDT	+0.0068%	8h	789.42	−0.070%	$492.5M	$789.4M	75x	as long as short
MEXC BNB_USDT	+0.0068%	8h	789.70	−0.034%	$80.1M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0071%	8h	789.95	−0.003%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.24	−0.093%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.27	−0.089%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.85	−0.142%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.60	−0.047%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.23	−0.094%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.60	−0.173%	$138.7M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.60	−0.173%	$53.3M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.10	−0.110%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.85	−0.142%	$35.4M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.06	−0.115%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.42	−0.196%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.49	−0.061%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	−0.109%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.98	+0.128%	$4.1M	$74.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.75	−0.028%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USDshort	+0.0100%	1h	788.65	−0.167%	$133K	$952K	10x
Derive BNB-PERP	+0.0100%	1h	789.37	−0.076%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.90	−0.008%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.40	−0.072%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.95	−0.003%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.77	−0.025%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.44	−0.194%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.32	−0.082%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0114%	1h	789.06	−0.115%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.37	+0.051%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0138%	8h	791.19	+0.154%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	790.30	+0.042%	$113K	$2.7M	4.8x	as long as short
BloFin BNB-USDTlong	+0.0188%	8h	789.97	long leg	$18.2M	$2.2M	75x
01 Exchange BNBUSD	+0.0224%	1h	789.28	−0.087%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.06	−0.115%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.211%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.74	−0.029%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.40	−0.198%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.23	−0.094%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	789.84	−0.016%	$67K	$38K	12x	as long as short