Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0002%/8h= +0.3% APRpaid last 24h −0.006%

Price spread now: Binance against Deribit+0.033%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

Price spread, last 3 days (all we have)+0.215%+$22 · spread now +0.033%, 7d avg +0.039%

Together, before fees+0.039%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	803.23	0.0100	pay 0.0013% / 1h	50m 58s	$1.6M	$162K	25x
Short	Binance BNBUSDT	803.49	0.0102	get 0.0102% / 8h	2h 50m	$518.3M	$807.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.033%Rate

Funding earned: $0.5
Price spread: +0.033% → +0.039%: −$0.66
Slippage, 4 orders: −$11.65
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$28.81
Costs to cover: 0.286%
Break-even: 410.5 days

Slippage from Deribit: live order book, 3 min ago; Binance: live order book, 8 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 Deribit live order book, 3 min ago	1.37 bp	7.7 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.06 bp	5.5 bp −$5	7.8 bp −$78	15.6 bp −$1,561	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	802.72	−0.063%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.20	−0.003%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.43	+0.150%	$3.0M	$30.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.10	−0.016%	$109K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.50	+0.034%	$868K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.73	−0.062%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.74	−0.061%	$2.5M	$916K	50x	as long as short
Variational Omni BNB	+0.0068%	8h	803.35	+0.015%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0070%	8h	802.93	−0.037%	—	$34.5M	—	as long as short
Aster BNBUSDT	+0.0087%	8h	803.26	+0.005%	$6.4M	$18.9M	200x	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	+0.0088%	1h	803.99	+0.095%	$608K	$899K	50x	as long as short
Lighter BNB	+0.0096%	1h	802.79	−0.054%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.02	−0.150%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.57	−0.082%	$1.2M	$923K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	802.40	−0.103%	$138.9M	$83.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.70	−0.066%	$55.0M	$115.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.60	−0.078%	$52K	$191K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.65	−0.072%	$36.0M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.71	−0.064%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.42	−0.100%	$79.0M	$24.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.76	+0.066%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.49	+0.033%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.66	−0.070%	$118K	$869K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.73	−0.062%	$388K	$595K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.92	−0.038%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.38	+0.019%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	802.70	−0.066%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0100%	1h	803.23	long leg	$1.6M	$162K	25x
HTX BNB-USDT	+0.0100%	8h	802.61	−0.077%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.08	−0.018%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	803.90	+0.084%	$84.3M	$13.5M	200x	as long as short
Binance BNBUSDTshort	+0.0102%	8h	803.49	+0.033%	$518.3M	$807.5M	75x
Extended BNB-USD	+0.0104%	1h	802.55	−0.085%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.83	−0.049%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0125%	8h	803.28	+0.007%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.11	−0.014%	$173K	$35K	10x	as long as short
Bulk BNB-USD	+0.0161%	1h	803.45	+0.028%	$649K	$11K	10x	as long as short
Hyperliquid BNB	+0.0170%	1h	803.33	+0.013%	$51.6M	$21.3M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	802.71	−0.065%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0210%	1h	803.01	−0.027%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0222%	8h	803.27	+0.005%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.57	+0.043%	$71K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	802.40	−0.103%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	803.01	−0.027%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.211%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0665%	1h	803.76	+0.066%	$3.0M	$5.3M	40x	as long as short