Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.056%

Price spread now: BloFin against dYdX+0.134%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now +0.134%, 7d avg +0.086%

Together, before fees−0.370%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.048% dearer against dYdX than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of +0.086%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	799.29	0.0349	pay 0.0044% / 1h	8m 41s	$161K	$62K	10x
Short	BloFin BNB-USDT	800.36	0.0236	get 0.0236% / 8h	1h 08m	$18.3M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$23.61
Price spread: +0.134% → +0.086%: $4.8
Slippage, 4 orders: −$30.68
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$71.49
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from dYdX: live order book, 10 min ago; BloFin: 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 dYdX live order book, 10 min ago	14.76 bp	19.8 bp −$20	19.8 bp −$198	24.5 bp −$2,453	132.9 bp −$66.5K
Sell BloFin live order book, 5 min ago	0.06 bp	6.9 bp −$7	8.5 bp −$85	12.3 bp −$1,226	12.7 bp −$6,349

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	799.81	+0.065%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.02	+0.091%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.06	+0.096%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	799.80	+0.064%	$129K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	800.27	+0.123%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.78	+0.061%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0030%	8h	799.14	−0.019%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0055%	8h	799.69	+0.050%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0065%	8h	799.60	+0.039%	$139.2M	$78.6M	75x	as long as short
Aster BNBUSDT	+0.0096%	8h	800.54	+0.156%	$6.4M	$19.0M	200x	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	800.17	+0.109%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	799.73	+0.055%	$608K	$992K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.07	−0.027%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.07	+0.098%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.40	+0.014%	$54.6M	$113.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.00	+0.089%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.40	+0.014%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.70	+0.051%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.52	+0.029%	$80.7M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.16	+0.109%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.33	+0.130%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.82	+0.066%	$121K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.76	+0.059%	$386K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.95	+0.083%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.47	+0.148%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.00	+0.089%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.72	+0.053%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.39	+0.137%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.18	−0.014%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.92	+0.078%	$384K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0116%	8h	800.90	+0.201%	$83.2M	$13.8M	200x	as long as short
Phemex BNBUSDT	+0.0116%	8h	800.41	+0.140%	$70.0M	$51.5M	50x	as long as short
Binance BNBUSDT	+0.0116%	8h	800.52	+0.154%	$502.8M	$817.1M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.04	+0.094%	$172K	$35K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.74	+0.056%	$2.6M	$967K	50x	as long as short
Hibachi BNB/USDT-P	+0.0208%	1h	799.43	+0.018%	$71K	$49K	12x	as long as short
BloFin BNB-USDTshort	+0.0236%	8h	800.36	+0.134%	$18.3M	$2.5M	75x
Bulk BNB-USD	+0.0298%	1h	800.20	+0.114%	$650K	$21K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	800.32	+0.129%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.726%	$19K	$789K	30x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	800.41	+0.140%	$28K	$1K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	799.90	+0.076%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0321%	1h	800.64	+0.169%	$51.8M	$21.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.54	+0.031%	$6K	$3K	40x	as long as short
dYdX BNB-USDlong	+0.0349%	1h	799.29	long leg	$161K	$62K	10x
Backpack BNB_USDC_PERP	+0.0572%	1h	800.71	+0.178%	$2.7M	$5.7M	40x	as long as short