Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.017%

Price spread now: Bitget against Deribit−0.147%48s7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.321% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.147%, 7d avg −0.085%

Together, before fees−0.027%−$3 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 Bitget is 0.063% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.085%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	801.70	0.0300	pay 0.0037% / 1h	59m 24s	$1.6M	$165K	25x
Short	Bitget BNBUSDT	800.52	0.0100	get 0.0100% / 8h	59m 24s	$80.8M	$26.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.147%Rate

Funding earned: −$42
Price spread: −0.147% → −0.085%: −$6.25
Slippage, 4 orders: −$13.14
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.39
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Bitget: 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 Deribit live order book, 5 min ago	2.43 bp	8.3 bp −$8	12.9 bp −$129	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.06 bp	6.4 bp −$6	8.7 bp −$87	20.7 bp −$2,070	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	800.94	−0.096%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.35	−0.044%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	−0.089%	$3.0M	$28.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	802.01	+0.039%	$867K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.92	−0.097%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	800.04	−0.207%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0052%	8h	801.11	−0.074%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	800.60	−0.137%	$139.2M	$78.6M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.34	−0.045%	$2.8M	$4.1M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	800.72	−0.122%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BNB-PERP	+0.0100%	1h	800.48	−0.153%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.21	−0.061%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.80	−0.112%	$54.7M	$113.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.40	−0.038%	$53K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.65	−0.131%	$35.8M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.70	−0.125%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDTshort	+0.0100%	8h	800.52	−0.147%	$80.8M	$26.7M	75x
edgeX BNBUSDC	+0.0100%	4h	800.55	−0.144%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	−0.142%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.78	−0.115%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.99	−0.089%	$387K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.40	−0.038%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.92	+0.027%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.80	−0.112%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.71	+0.001%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	801.58	−0.015%	$6.4M	$18.9M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	800.45	−0.155%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.52	−0.023%	$385K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0108%	1h	801.30	−0.050%	$394K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	801.50	−0.025%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0114%	8h	801.76	+0.007%	$70.1M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0119%	8h	801.80	+0.012%	$83.3M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0121%	8h	801.63	−0.009%	$501.6M	$818.9M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.116%	$172K	$34K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.15	−0.069%	$2.6M	$970K	50x	as long as short
Hyperliquid BNB	+0.0238%	1h	801.66	−0.005%	$51.9M	$21.6M	10x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.23	−0.059%	$18.3M	$2.5M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	800.59	−0.139%	$71K	$48K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	801.05	−0.081%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.069%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0300%	1h	801.70	long leg	$1.6M	$165K	25x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.423%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	800.45	−0.156%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0369%	1h	800.88	−0.102%	$161K	$62K	10x	as long as short
01 Exchange BNBUSD	+0.0448%	1h	801.71	+0.001%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0556%	1h	802.04	+0.042%	$2.7M	$5.7M	40x	as long as short