Funding you earn now, next payment 00:00 UTC−0.0091%/8h= −10.0% APRnext payment −$0.11 per $10,000 · paid last 24h −0.036%
Price spread now: Deribit against Bulk−0.008%7-day average −0.054% · 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−$230.231% of the position
Funding, last 3 days (all we have)−0.208%−$21 on $10k
+Price spread, last 3 days (all we have)−0.029%−$3 · spread now −0.008%, 7d avg −0.054%
=The price spread pays, funding is against you. Deribit is 0.046% dearer against Bulk than usual: you sell high and buy low (spread −0.008% now, against its 7-day average of −0.054%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 3 days (−0.208% in total) that is about 18 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BNB-USD | 798.83 | 0.0191 | pay 0.0024% / 1h | 9m 04s | $649K | $17K | 10x |
| Short | Deribit BNB_USDC-PERPETUAL | 798.76 | 0.0100 | get 0.0013% / 1h | 9m 04s | $1.6M | $165K | 25x |
Bulk BNB-USD
Deribit BNB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bulk. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$19.11
- Price spread: −0.008% → −0.054%
- $4.63
- Slippage, 4 orders
- −$9.08
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$37.56
- Costs to cover
- 0.231%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 5 min ago; Deribit: live order book, 5 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, 5 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.9 bp −$488 | 11.1 bp −$5,571 |
| Sell Deribit live order book, 5 min ago | 1.38 bp | 10.8 bp −$11 | 16.5 bp −$165 | 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 −0.0201% / S +0.0372% | 1h | 798.38 | −0.055% | $47K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 798.89 | +0.008% | $4K | $1K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0074% | 1h | 798.07 | −0.095% | $2.5M | $974K | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 798.45 | −0.047% | $3.0M | $27.9M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 798.86 | +0.004% | $863K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 798.41 | −0.052% | $9.7M | — | 150x | as long as short |
| Variational Omni BNB | +0.0008% | 8h | 797.53 | −0.162% | $4.0M | $5.4M | — | as long as short |
| BingX BNB-USDC | +0.0033% | 8h | 798.34 | −0.061% | — | $13.4M | — | as long as short |
| Bybit BNBUSDT | +0.0037% | 8h | 798.00 | −0.103% | $138.5M | $76.8M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0072% | 1h | 798.14 | −0.086% | $601K | $984K | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDC
Bybit BNBUSDT
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BNBUSDT | +0.0082% | 8h | 798.79 | −0.004% | $6.2M | $19.1M | 200x | as long as short |
| Lighter BNB | +0.0096% | 1h | 798.38 | −0.056% | $2.8M | $4.1M | 20x | as long as short |
| Phemex BNBUSDT | +0.0098% | 8h | 798.74 | −0.011% | $69.9M | $50.6M | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 797.87 | −0.119% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 798.36 | −0.059% | $1.2M | $925K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 798.00 | −0.103% | $54.3M | $112.6M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 798.40 | −0.053% | $52K | $133K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 798.00 | −0.103% | $35.7M | $58.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 798.12 | −0.088% | $28.0M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 797.99 | −0.105% | $79.0M | $27.5M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 798.97 | +0.018% | $4.1M | $76.2M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 799.19 | +0.046% | $161K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 798.20 | −0.078% | $116K | $874K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 798.24 | −0.073% | $386K | $494K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 798.45 | −0.047% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 798.72 | −0.014% | $13K | $1.7M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 798.40 | −0.053% | $393K | $1.0M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUALshort | +0.0100% | 1h | 798.76 | −0.008% | $1.6M | $165K | 25x | |
| HTX BNB-USDT | +0.0100% | 8h | 798.55 | −0.034% | $8.2M | $8.0M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 798.68 | −0.018% | $78K | $19K | 50x | as long as short |
| Binance BNBUSDT | +0.0103% | 8h | 798.80 | −0.003% | $497.6M | $818.0M | 75x | as long as short |
| MEXC BNB_USDT | +0.0103% | 8h | 799.10 | +0.034% | $83.0M | $13.6M | 200x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 797.86 | −0.121% | $1.7M | $6.5M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 798.44 | −0.048% | $384K | $40K | 10x | as long as short |
| Phoenix BNB | +0.0127% | 1h | 799.20 | +0.047% | $172K | $36K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0145% | 8h | 798.90 | +0.009% | $90K | $2.9M | 4.8x | as long as short |
| Hibachi BNB/USDT-P | +0.0160% | 1h | 798.59 | −0.030% | $70K | $43K | 12x | as long as short |
| Bulk BNB-USDlong | +0.0191% | 1h | 798.83 | long leg | $649K | $17K | 10x | |
| BloFin BNB-USDT | +0.0223% | 8h | 798.84 | +0.002% | $18.1M | $2.5M | 75x | as long as short |
| Hyperliquid BNB | +0.0232% | 1h | 799.07 | +0.031% | $52.5M | $20.8M | 10x | as long as short |
| RISEx BNB/USDC | +0.0258% | 1h | 798.15 | −0.084% | $1.1M | $1.4M | 20x | as long as short |
| 01 Exchange BNBUSD | +0.0272% | 1h | 798.61 | −0.027% | $28K | $1K | 10x | as long as short |
| Injective BNB/USDC PERP | +0.0306% | 1h | 805.09 | +0.784% | $19K | $789K | 30x | as long as short |
| Reya BNBRUSDPERP | +0.0331% | 1h | 797.79 | −0.129% | $6K | $3K | 40x | as long as short |
| dYdX BNB-USD | +0.0342% | 1h | 798.04 | −0.099% | $161K | $63K | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0343% | 1h | 798.98 | +0.019% | $2.7M | $5.7M | 40x | as long as short |
Aster BNBUSDT
Lighter BNB
Phemex BNBUSDT
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Binance BNBUSDT
MEXC BNB_USDT
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Kalshi KXBNBPERP
Hibachi BNB/USDT-P
BloFin BNB-USDT
Hyperliquid BNB
RISEx BNB/USDC
01 Exchange BNBUSD
Injective BNB/USDC PERP
Reya BNBRUSDPERP
dYdX BNB-USD
Backpack BNB_USDC_PERP