Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.085%

Price spread now: Bybit against dYdX−0.037%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.519%−$52 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.037%, 7d avg −0.028%

Together, before fees−0.495%−$50 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	785.69	0.0111	pay 0.0014% / 1h	39m 59s	$157K	$64K	10x
Short	Bybit BNBUSDT	785.40	0.0100	get 0.0100% / 8h	7h 39m	$138.3M	$73.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$2.22
Price spread: −0.037% → −0.028%: −$0.95
Slippage, 4 orders: −$25.35
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.53
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from dYdX: live order book, 59 min ago; Bybit: live order book, 4 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, 59 min ago	10.36 bp	15.4 bp −$15	24.5 bp −$245	38.6 bp −$3,856	249.0 bp −$124.5K
Sell Bybit live order book, 4 min ago	0.64 bp	7.4 bp −$7	10.0 bp −$100	24.9 bp −$2,490	118.8 bp −$59.4K

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 −0.0168% / S +0.0337%	1h	786.16	+0.060%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.87	+0.022%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.75	+0.007%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.60	+0.115%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	787.05	+0.173%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.45	−0.031%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0025%	8h	786.16	+0.059%	$6.0M	$18.5M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.469%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0035%	8h	785.93	+0.030%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0040%	8h	787.30	+0.204%	$82.4M	$12.2M	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	+0.0041%	8h	786.17	+0.060%	$489.1M	$812.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	785.72	+0.003%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.60	−0.012%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.31	+0.078%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.05	+0.046%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	785.40	−0.037%	$138.3M	$73.2M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	785.30	−0.050%	$53.4M	$110.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.90	+0.026%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.65	−0.006%	$39.3M	$55.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.15	−0.069%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.17	−0.067%	$75.3M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.12	+0.054%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.22	−0.060%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.34	+0.210%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	+0.187%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.71	+0.002%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.56	−0.017%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.66	−0.004%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.73	+0.005%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.80	+0.013%	$386K	$945K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	785.91	+0.027%	$1.5M	$141K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.86	+0.021%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.28	+0.074%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.19	−0.064%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.41	−0.037%	$377K	$110K	10x	as long as short
dYdX BNB-USDlong	+0.0111%	1h	785.69	long leg	$157K	$64K	10x
Kalshi KXBNBPERP	+0.0113%	8h	786.10	+0.052%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	+0.114%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.53	+0.106%	$158K	$38K	10x	as long as short
Phemex BNBUSDT	+0.0149%	8h	786.02	+0.041%	$68.5M	$51.2M	50x	as long as short
BloFin BNB-USDT	+0.0161%	8h	786.06	+0.047%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0215%	1h	787.68	+0.253%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	786.20	+0.064%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.16	−0.068%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	785.88	+0.024%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	785.98	+0.037%	$67K	$39K	12x	as long as short