Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.010%

Price spread now: BloFin against Bulk−0.024%7-day average −0.013% · 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−$21as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on Bulk Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.129%−$13 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now −0.024%, 7d avg −0.013%

Together, before fees−0.233%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	805.26	0.0273	pay 0.0034% / 1h	53m 22s	$650K	$14K	10x
Short	BloFin BNB-USDT	805.07	0.0238	get 0.0238% / 8h	1h 53m	$18.8M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bulk. 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 BulkbpFee BloFinbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$7.38
Price spread: −0.024% → −0.013%: −$1.09
Slippage, 4 orders: −$1.03
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$28.5
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from Bulk: live order book, 31 min ago; BloFin: live order book, 6 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 Bulk live order book, 31 min ago	0.06 bp	3.6 bp −$4	3.7 bp −$37	6.0 bp −$597	13.9 bp −$6,931
Sell BloFin live order book, 6 min ago	0.25 bp	6.2 bp −$6	8.2 bp −$82	14.1 bp −$1,408	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	804.57	−0.085%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.41	+0.143%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.78	+0.189%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.50	+0.154%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.22	+0.119%	$871K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.68	−0.072%	$9.8M	—	150x	as long as short
Hibachi BNB/USDT-P	+0.0024%	1h	806.08	+0.101%	$71K	$48K	12x	as long as short
Variational Omni BNB	+0.0044%	8h	805.28	+0.003%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0056%	8h	804.72	−0.067%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	804.27	−0.123%	$139.2M	$82.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.59	+0.041%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	+0.062%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.15	−0.014%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.63	+0.046%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.30	−0.119%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.50	+0.030%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.65	−0.076%	$36.2M	$57.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.92	−0.042%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.29	−0.120%	$78.9M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.63	+0.170%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.32	+0.132%	$162K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.87	−0.048%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.40	−0.107%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.65	−0.075%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.09	−0.022%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.82	−0.055%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.07	+0.101%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	805.35	+0.011%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.02	−0.154%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.63	−0.079%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	805.70	+0.055%	$84.5M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.18	−0.010%	$519.9M	$805.9M	75x	as long as short
Hyperliquid BNB	+0.0129%	1h	805.53	+0.034%	$51.8M	$22.0M	10x	as long as short
Phemex BNBUSDT	+0.0140%	8h	805.02	−0.030%	$70.2M	$51.9M	50x	as long as short
SoDEX BNB-USD	+0.0145%	1h	804.50	−0.094%	$396K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0153%	1h	805.74	+0.060%	$162K	$63K	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.95	+0.086%	$173K	$35K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	804.84	−0.052%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	804.45	−0.101%	$2.5M	$933K	50x	as long as short
BloFin BNB-USDTshort	+0.0238%	8h	805.07	−0.024%	$18.8M	$3.1M	75x
Bulk BNB-USDlong	+0.0273%	1h	805.26	long leg	$650K	$14K	10x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.021%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.18	−0.009%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.39	−0.109%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0360%	1h	805.66	+0.050%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0721%	1h	806.58	+0.164%	$3.0M	$5.5M	40x	as long as short