Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h −0.100%

Price spread now: Bitget against dYdX+0.024%7-day average −0.041% · 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−$51as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.459%−$46 on $10k

Price spread, last 4 days (all we have)−0.204%−$20 · spread now +0.024%, 7d avg −0.041%

Together, before fees−0.663%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.065% dearer against dYdX than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.041%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	788.96	0.0244	pay 0.0031% / 1h	43m 01s	$160K	$63K	10x
Short	Bitget BNBUSDT	789.15	0.0100	get 0.0100% / 8h	5h 43m	$76.9M	$30.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$30.34
Price spread: +0.024% → −0.041%: $6.51
Slippage, 4 orders: −$35.01
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.85
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from dYdX: live order book, 21 min ago; Bitget: live order book, 1 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, 21 min ago	16.57 bp	21.7 bp −$22	36.4 bp −$364	71.0 bp −$7,100	395.5 bp −$197.8K
Sell Bitget live order book, 1 min ago	0.06 bp	7.1 bp −$7	8.7 bp −$87	doesn't fit	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 −0.0167% / S +0.0335%	1h	788.74	−0.028%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.72	−0.030%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.10	+0.018%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.84	−0.015%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.045%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	789.79	+0.105%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.09	+0.017%	$618K	$1.8M	50x	as long as short
BingX BNB-USDC	+0.0055%	8h	788.70	−0.033%	—	$13.3M	—	as long as short
Phemex BNBUSDT	+0.0071%	8h	789.40	+0.056%	$69.1M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0072%	8h	790.10	+0.145%	$80.4M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0073%	8h	790.01	+0.133%	$494.3M	$806.6M	75x	as long as short
Variational Omni BNB	+0.0078%	8h	787.81	−0.145%	$4.1M	$4.7M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.23	+0.034%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.47	+0.065%	$2.8M	$3.9M	20x	as long as short
Gate BNB_USDT	+0.0096%	8h	789.05	+0.012%	$35.3M	$56.8M	75x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.95	−0.001%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.85	−0.014%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.76	+0.102%	$51.8M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.18	+0.028%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.27	+0.040%	$138.8M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.20	+0.031%	$53.5M	$112.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.20	+0.031%	$52K	$130K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.02	+0.008%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDTshort	+0.0100%	8h	789.15	+0.024%	$76.9M	$30.0M	75x
Backpack BNB_USDC_PERP	+0.0100%	1h	789.48	+0.066%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.50	−0.058%	$4.1M	$77.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.65	−0.039%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.68	−0.035%	$137K	$944K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.32	+0.045%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.33	+0.047%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.07	+0.014%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.71	+0.096%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.04	+0.011%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.22	+0.033%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.34	−0.078%	$169K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0122%	8h	788.59	−0.046%	$2.9M	$28.3M	10x	as long as short
SoDEX BNB-USD	+0.0167%	1h	789.30	+0.043%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.50	+0.069%	$95K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0193%	8h	789.60	+0.081%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USDlong	+0.0244%	1h	788.96	long leg	$160K	$63K	10x
01 Exchange BNBUSD	+0.0304%	1h	789.59	+0.080%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.60	−0.045%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.17	+0.028%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.115%	$638K	$13K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0500%	1h	789.68	+0.092%	$1.5M	$152K	25x	as long as short
Hibachi BNB/USDT-P	+0.0576%	1h	788.44	−0.066%	$67K	$38K	12x	as long as short