Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0196%/8h= −21.4% APRpaid last 24h −0.048%

Price spread now: Orderly against Bulk−0.120%7-day average −0.070% · you buy dearer than you sell

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

Long on Bulk Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.234%−$23 · spread now −0.120%, 7d avg −0.070%

Together, before fees−0.459%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Orderly is 0.050% cheaper against Bulk than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	791.64	0.0296	pay 0.0037% / 1h	52m 55s	$641K	$9K	10x
Short	Orderly PERP_BNB_USDC	790.69	0.0100	get 0.0100% / 8h	4h 52m	$266K	$498K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.120%Rate

Funding earned: −$41.07
Price spread: −0.120% → −0.070%: −$4.96
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$59.03
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 6 min ago; Orderly: 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 Bulk live order book, 6 min ago	0.06 bp	3.7 bp −$4	4.7 bp −$47	9.3 bp −$926	18.0 bp −$9,016
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0182% / S +0.0348%	1h	790.57	−0.135%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.07	−0.072%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.78	+0.018%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.63	−0.128%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.699%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0047%	8h	790.83	−0.102%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0057%	8h	790.51	−0.143%	—	$34.3M	—	as long as short
Phemex BNBUSDT	+0.0064%	8h	791.26	−0.048%	$69.3M	$49.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	−0.126%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0070%	8h	791.10	−0.068%	$80.3M	$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
Binance BNBUSDT	+0.0070%	8h	790.74	−0.113%	$493.5M	$789.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	790.70	−0.118%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	790.69	−0.120%	$266K	$498K	50x
Nado BNB-PERP	+0.0100%	1h	790.30	−0.169%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.05	−0.075%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.71	−0.117%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.10	−0.195%	$139.0M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.00	−0.207%	$53.4M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.70	−0.119%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.45	−0.150%	$35.5M	$56.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.37	−0.160%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	790.03	−0.203%	$76.5M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.93	−0.090%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	790.82	−0.104%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.43	−0.027%	$4.1M	$74.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.18	−0.184%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.37	−0.160%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.80	−0.107%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.91	−0.092%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.80	−0.106%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.76	−0.111%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	791.13	−0.065%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.94	−0.215%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.62	−0.129%	$380K	$110K	10x	as long as short
dYdX BNB-USD	+0.0111%	1h	791.17	−0.060%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	791.15	−0.062%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	790.47	−0.148%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0184%	8h	791.00	−0.081%	$113K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0190%	8h	791.19	−0.057%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	791.04	−0.076%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	790.53	−0.140%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USDlong	+0.0296%	1h	791.64	long leg	$641K	$9K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.16	−0.061%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.05	−0.201%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	790.81	−0.105%	$1.1M	$976K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	791.01	−0.079%	$68K	$38K	12x	as long as short