Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0396%/8h= −43.4% APRpaid last 24h −0.104%

Price spread now: OKX against dYdX−0.098%7-day average −0.025% · 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−$58as in the Price arb table

costs, in and out, $10k−$510.510% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.466%−$47 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.098%, 7d avg −0.025%

Together, before fees−0.369%−$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and OKX is 0.073% cheaper against dYdX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	802.89	0.0496	pay 0.0062% / 1h	52m 06s	$162K	$62K	10x
Short	OKX BNB-USDT-SWAP	802.10	0.0100	get 0.0100% / 8h	52m 06s	$54.7M	$113.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$83.22
Price spread: −0.098% → −0.025%: −$7.34
Slippage, 4 orders: −$30.97
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$141.53
Costs to cover: 0.510%
Break-even: never at this rate

Slippage from dYdX: live order book, 27 min ago; OKX: 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, 27 min ago	14.76 bp	19.8 bp −$20	19.8 bp −$198	24.5 bp −$2,453	132.9 bp −$66.5K
Sell OKX live order book, 2 min ago	0.62 bp	5.6 bp −$6	7.0 bp −$70	19.3 bp −$1,930	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 −0.0201% / S +0.0372%	1h	802.37	−0.065%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.26	+0.046%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.34	−0.068%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.91	+0.002%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.129%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.30	−0.073%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.155%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.63	−0.032%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.10	−0.098%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.270%	$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	802.77	−0.015%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.10	−0.098%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.85	−0.005%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	802.10	−0.098%	$54.7M	$113.7M	50x
Arcus BNB-USD	+0.0100%	1h	803.00	+0.014%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.30	−0.073%	$35.8M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.34	−0.068%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.11	−0.097%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.03	+0.018%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.61	−0.035%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.36	−0.066%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.37	−0.064%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.55	−0.042%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.05	+0.020%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.58	−0.038%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.32	+0.054%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	801.94	−0.118%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.80	−0.011%	$386K	$40K	10x	as long as short
Aster BNBUSDT	+0.0104%	8h	802.95	+0.008%	$6.3M	$19.0M	200x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	803.20	+0.039%	$109K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0117%	8h	803.13	+0.030%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.40	+0.064%	$83.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.12	+0.029%	$502.4M	$818.4M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.21	+0.040%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0204%	1h	802.60	−0.036%	$395K	$1.0M	10x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.74	+0.106%	$18.2M	$2.6M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.88	−0.001%	$71K	$49K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.73	−0.020%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0289%	1h	803.23	+0.043%	$52.0M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.216%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	802.84	−0.006%	$1.6M	$165K	25x	as long as short
Backpack BNB_USDC_PERP	+0.0302%	1h	803.20	+0.039%	$2.7M	$5.7M	40x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.274%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.98	−0.113%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0424%	1h	803.18	+0.036%	$28K	$2K	10x	as long as short
dYdX BNB-USDlong	+0.0496%	1h	802.89	long leg	$162K	$62K	10x