Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against Deribit−0.008%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

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

costs, in and out, $10k−$370.369% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.008%, 7d avg −0.058%

Together, before fees−0.146%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.050% dearer against Deribit than usual: you sell high and buy low (spread −0.008% now, against its 7-day average of −0.058%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.170% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	801.56	0.0300	pay 0.0037% / 1h	58m 30s	$1.6M	$165K	25x
Short	Gate BNB_USDT	801.50	0.0100	get 0.0100% / 8h	58m 30s	$35.8M	$57.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.008%Rate

Funding earned: −$42
Price spread: −0.008% → −0.058%: $5.02
Slippage, 4 orders: −$14.95
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$73.93
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Gate: 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, 1 min ago	2.56 bp	7.7 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.63 bp	9.3 bp −$9	11.4 bp −$114	25.9 bp −$2,591	55.7 bp −$27.9K

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	−0.078%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.08	+0.065%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	801.15	−0.052%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	−0.072%	$3.0M	$28.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	802.01	+0.056%	$867K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.92	−0.080%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	800.04	−0.190%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0052%	8h	802.15	+0.073%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	801.81	+0.031%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.105%	$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
Lighter BNB	+0.0096%	1h	802.05	+0.061%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.96	+0.050%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.00	+0.054%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.10	+0.067%	$54.8M	$113.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.50	+0.117%	$53K	$134K	10x	as long as short
Gate BNB_USDTshort	+0.0100%	8h	801.50	−0.008%	$35.8M	$57.3M	75x
KuCoin BNBUSDTM	+0.0100%	8h	801.72	+0.020%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.91	+0.043%	$79.8M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.55	−0.126%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	−0.125%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.24	+0.085%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.99	−0.071%	$387K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.18	−0.048%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.40	−0.020%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.97	−0.074%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.56	+0.125%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	802.62	+0.132%	$6.4M	$18.9M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	801.64	+0.010%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.34	−0.028%	$385K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0114%	8h	801.43	−0.016%	$70.1M	$51.0M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	801.10	−0.058%	$109K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0120%	8h	802.70	+0.142%	$83.4M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0121%	8h	802.84	+0.159%	$502.4M	$818.9M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.099%	$172K	$34K	10x	as long as short
BloFin BNB-USDT	+0.0241%	8h	801.83	+0.033%	$18.2M	$2.5M	75x	as long as short
SoDEX BNB-USD	+0.0247%	1h	801.30	−0.033%	$394K	$1.0M	10x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	801.14	−0.053%	$71K	$48K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.33	+0.096%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.051%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0300%	1h	801.56	long leg	$1.6M	$165K	25x
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.440%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.83	+0.033%	$6K	$3K	40x	as long as short
Hyperliquid BNB	+0.0366%	1h	803.02	+0.182%	$52.0M	$21.6M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0412%	1h	802.31	+0.093%	$2.7M	$5.7M	40x	as long as short
01 Exchange BNBUSD	+0.0432%	1h	803.13	+0.196%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0465%	1h	801.56	−0.001%	$162K	$62K	10x	as long as short