Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.029%

Price spread now: Deribit against Bybit+0.069%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$22 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.069%, 7d avg +0.074%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	788.70	0.0100	pay 0.0100% / 8h	4h 03m	$138.8M	$74.0M	75x
Short	Deribit BNB_USDC-PERPETUAL	789.25	0.0300	get 0.0037% / 1h	3m 02s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.069%Rate

Funding earned: $42
Price spread: +0.069% → +0.074%: −$0.42
Slippage, 4 orders: −$13.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $10.25
Costs to cover: 0.313%
Break-even: 5.3 days

Slippage from Bybit: live order book, 1 min ago; Deribit: live order book, 1 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 Bybit live order book, 1 min ago	0.63 bp	8.4 bp −$8	9.9 bp −$99	26.6 bp −$2,661	176.4 bp −$88.2K
Sell Deribit live order book, 1 min ago	2.72 bp	9.3 bp −$9	15.1 bp −$151	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 −0.0190% / S +0.0354%	1h	788.71	+0.001%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.91	+0.027%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.88	+0.023%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.79	+0.011%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.078%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.42	+0.091%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0046%	8h	788.86	+0.020%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	789.70	+0.127%	$80.1M	$12.4M	200x	as long as short
Phemex BNBUSDT	+0.0057%	8h	789.36	+0.084%	$69.0M	$50.3M	50x	as long as short
Binance BNBUSDT	+0.0058%	8h	789.43	+0.092%	$492.7M	$791.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	788.26	−0.056%	$579K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.00	+0.038%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.85	+0.019%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.40	−0.038%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.38	+0.086%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.90	+0.025%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	788.70	long leg	$138.8M	$74.0M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	788.70	0.000%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.90	+0.025%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.75	+0.006%	$35.5M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.63	−0.009%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.55	−0.019%	$76.3M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.25	+0.070%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.125%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.39	−0.040%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.05	−0.082%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.70	0.000%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.88	+0.023%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.42	+0.092%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.90	+0.025%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.60	−0.013%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.14	+0.055%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.43	−0.034%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.85	+0.019%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	788.48	−0.028%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0121%	1h	788.57	−0.016%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0154%	8h	788.72	+0.003%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	789.30	+0.076%	$132K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0178%	8h	789.48	+0.099%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	−0.016%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.37	+0.085%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	788.80	+0.012%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0300%	1h	789.25	+0.069%	$1.5M	$143K	25x
Reya BNBRUSDPERP	+0.0325%	1h	788.50	−0.025%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0360%	1h	788.19	−0.065%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.04	+0.044%	$1.1M	$967K	20x	as long as short