Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0077%/8h= −8.4% APRpaid last 24h −0.034%

Price spread now: SoDEX against BloFin−0.029%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on BloFin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.085%−$9 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.029%, 7d avg −0.064%

Together, before fees−0.095%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.035% dearer against BloFin than usual: you sell high and buy low (spread −0.029% now, against its 7-day average of −0.064%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	789.73	0.0177	pay 0.0177% / 8h	3h 51m	$18.1M	$2.2M	75x
Short	SoDEX BNB-USD	789.50	0.0100	get 0.0013% / 1h	51m 06s	$388K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$16.16
Price spread: −0.029% → −0.064%: $3.52
Slippage, 4 orders: −$1.56
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$34.2
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; SoDEX: live order book, 3 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, 3 min ago	0.13 bp	6.1 bp −$6	6.1 bp −$61	8.9 bp −$888	doesn't fit
Sell SoDEX live order book, 3 min ago	0.63 bp	4.6 bp −$5	8.8 bp −$88	77.5 bp −$7,754	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 −0.0191% / S +0.0355%	1h	789.42	−0.040%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.98	−0.094%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.66	−0.009%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	789.80	+0.009%	$135K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	790.39	+0.084%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.43	−0.038%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.945%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	789.72	−0.001%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	789.72	−0.001%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0057%	8h	789.72	−0.001%	$493.2M	$795.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0057%	8h	790.10	+0.047%	$80.1M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.84	+0.014%	$69.1M	$50.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.067%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	+0.085%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.38	−0.044%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.42	−0.039%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.15	−0.073%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.76	+0.004%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.48	−0.032%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.10	−0.080%	$138.8M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	−0.080%	$53.4M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.40	−0.042%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.15	−0.073%	$35.8M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.09	−0.081%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.83	−0.114%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.55	−0.023%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.053%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.26	+0.067%	$4.1M	$73.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.15	+0.053%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.19	−0.068%	$130K	$956K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.48	−0.031%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.04	+0.040%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USDshort	+0.0100%	1h	789.50	−0.029%	$388K	$1.0M	10x
HTX BNB-USDT	+0.0100%	8h	789.05	−0.086%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.64	−0.012%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.08	−0.083%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.39	−0.043%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0125%	1h	789.96	+0.029%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0169%	8h	790.73	+0.127%	$3.0M	$28.6M	10x	as long as short
BloFin BNB-USDTlong	+0.0177%	8h	789.73	long leg	$18.1M	$2.2M	75x
Bulk BNB-USD	+0.0234%	1h	790.66	+0.118%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.87	+0.018%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.81	+0.010%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.25	−0.060%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	790.16	+0.054%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	789.61	−0.015%	$1.1M	$892K	20x	as long as short