Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.106%

Price spread now: dYdX against Bybit+0.001%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.530%+$53 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.001%, 7d avg +0.029%

Together, before fees+0.533%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.028% cheaper against Bybit than usual: you would sell low and buy high (spread +0.001% now, against its 7-day average of +0.029%). If the spread goes back, that is −$3 on $10k: about 6.6 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.530% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	788.40	0.0100	pay 0.0100% / 8h	4h 47m	$138.7M	$74.9M	75x
Short	dYdX BNB-USD	788.41	0.0114	get 0.0014% / 1h	47m 37s	$159K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $2.91
Price spread: +0.001% → +0.029%: −$2.75
Slippage, 4 orders: −$26.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$47.84
Costs to cover: 0.480%
Break-even: 122.3 days

Slippage from Bybit: live order book, 1 min ago; dYdX: live order book, 11 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	7.1 bp −$7	9.2 bp −$92	25.8 bp −$2,581	164.1 bp −$82.1K
Sell dYdX live order book, 11 min ago	11.42 bp	17.6 bp −$18	44.4 bp −$444	55.7 bp −$5,566	166.8 bp −$83.4K

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 −0.0183% / S +0.0348%	1h	788.36	−0.006%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.72	+0.041%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.37	+0.123%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.41	+0.002%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.117%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	788.79	+0.049%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	788.72	+0.041%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.284%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	789.30	+0.114%	$80.1M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	789.24	+0.107%	$492.4M	$789.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0071%	8h	788.95	+0.070%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.49	+0.012%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	+0.006%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	−0.051%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.87	+0.059%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.67	+0.034%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	788.40	long leg	$138.7M	$74.9M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	0.000%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	+0.076%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.65	+0.032%	$35.3M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.16	−0.030%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.39	−0.001%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.87	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	+0.090%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.39	+0.126%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.41	+0.128%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.43	+0.004%	$133K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.51	+0.014%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.02	+0.079%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.40	0.000%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.96	+0.071%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.37	+0.124%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.21	−0.024%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.51	+0.014%	$379K	$110K	10x	as long as short
dYdX BNB-USDshort	+0.0114%	1h	788.41	+0.001%	$159K	$64K	10x
Phoenix BNB	+0.0117%	1h	790.37	+0.250%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0134%	8h	789.57	+0.148%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.20	+0.101%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0188%	8h	789.53	+0.143%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.48	+0.137%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.14	−0.033%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.411%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.69	+0.037%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.10	−0.038%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.17	+0.098%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	789.02	+0.079%	$67K	$38K	12x	as long as short