Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.099%

Price spread now: Aster against dYdX+0.041%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$530.533% of the position

Long on dYdX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.492%−$49 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.041%, 7d avg +0.082%

Together, before fees−0.430%+ Points / potential airdropAster: Stage 5 · farm board−$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.041% cheaper against dYdX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	793.98	0.0064	pay 0.0008% / 1h	31m 33s	$161K	$63K	10x
Short	Aster BNBUSDT	794.31	0.0034	get 0.0034% / 8h	6h 31m	$6.1M	$19.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against dYdX. 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 dYdXbpFee AsterbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$6.34
Price spread: +0.041% → +0.082%: −$4.11
Slippage, 4 orders: −$35.33
Fee dYdX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$63.78
Costs to cover: 0.533%
Break-even: never at this rate

Slippage from dYdX: live order book, 37 min ago; Aster: live order book, 2 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 dYdX live order book, 37 min ago	14.44 bp	19.5 bp −$19	37.4 bp −$374	83.1 bp −$8,309	123.3 bp −$61.7K
Sell Aster live order book, 2 min ago	0.38 bp	4.4 bp −$4	5.3 bp −$53	19.7 bp −$1,973	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	794.00	+0.002%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.86	−0.015%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.96	−0.003%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	793.56	−0.053%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.93	−0.006%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0021%	8h	792.33	−0.208%	$4.0M	$4.9M	—	as long as short
Gate BNB_USDT	+0.0029%	8h	793.45	−0.067%	$35.3M	$55.8M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.399%	$19K	$789K	30x	as long as short
Aster BNBUSDTshort	+0.0034%	8h	794.31	+0.041%	$6.1M	$19.8M	200x
GRVT BNB_USDT_Perp	+0.0044%	8h	793.45	−0.067%	$3.0M	$28.8M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDC	+0.0049%	8h	793.80	−0.023%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0054%	8h	794.45	+0.059%	$69.5M	$50.7M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.354%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	794.30	+0.040%	$82.4M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	794.37	+0.049%	$494.2M	$811.9M	75x	as long as short
dYdX BNB-USDlong	+0.0064%	1h	793.98	long leg	$161K	$63K	10x
Phoenix BNB	+0.0088%	1h	792.22	−0.222%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.87	−0.015%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.98	0.000%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.30	−0.086%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.09	+0.014%	$52.0M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	793.88	−0.013%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.70	−0.035%	$138.4M	$76.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.40	−0.073%	$53.2M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.90	−0.010%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.37	−0.077%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.42	−0.071%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.22	−0.096%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.21	−0.097%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.04	+0.007%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.15	+0.021%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.60	+0.078%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	794.10	+0.015%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.11	−0.110%	$8.1M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.90	−0.011%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.29	−0.087%	$1.7M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	794.03	+0.006%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.85	−0.017%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	793.90	−0.010%	$111K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0175%	1h	792.60	−0.174%	$642K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	794.30	+0.040%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.81	−0.022%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0397%	1h	794.38	+0.050%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	794.48	+0.062%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	793.29	−0.086%	$68K	$38K	12x	as long as short