Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h −0.088%

Price spread now: Variational Omni against Hibachi+0.047%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.047% dearer against Hibachi than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$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 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BNB/USDT-P	805.18	0.0128	pay 0.0016% / 1h	33m 09s	$71K	$48K	12x
Short	Variational Omni BNB	805.56	0.0041	get 0.0041% / 8h	1h 33m	$4.1M	$5.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HibachibpFee Variational OmnibpOrdersPrice spread, now +0.047%Rate

Funding earned: −$18.27
Price spread: +0.047% → 0.000%: $4.68
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.59
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	3.33 bp	doesn't fit	6.7 bp −$67	doesn't fit	doesn't fit

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	802.19	−0.371%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.61	−0.319%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.39	+0.026%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	802.90	−0.283%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.11	−0.009%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.24	−0.365%	$9.7M	—	150x	as long as short
Variational Omni BNBshort	+0.0041%	8h	805.56	+0.047%	$4.1M	$5.3M	—
BingX BNB-USDC	+0.0058%	8h	801.26	−0.487%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0082%	8h	801.50	−0.457%	$139.7M	$82.9M	75x	as long as short
Lighter BNB	+0.0096%	1h	802.36	−0.350%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	799.92	−0.653%	$603K	$963K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.30	−0.357%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.57	−0.324%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.70	−0.432%	$55.0M	$117.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.70	−0.308%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	801.85	−0.414%	$35.8M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.63	−0.441%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.92	−0.405%	$81.1M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.46	+0.034%	$4.2M	$77.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.51	+0.041%	$162K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.06	−0.388%	$121K	$879K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.11	−0.381%	$388K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.36	−0.350%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	802.66	−0.313%	$11K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.44	−0.340%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.76	−0.300%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0101%	8h	802.36	−0.350%	$6.4M	$19.2M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	801.51	−0.456%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.03	−0.268%	$386K	$40K	10x	as long as short
Binance BNBUSDT	+0.0120%	8h	802.38	−0.348%	$517.5M	$827.9M	75x	as long as short
MEXC BNB_USDT	+0.0122%	8h	802.90	−0.283%	$83.4M	$13.8M	200x	as long as short
Hibachi BNB/USDT-Plong	+0.0128%	1h	805.18	long leg	$71K	$48K	12x
Phemex BNBUSDT	+0.0129%	8h	802.58	−0.323%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	804.78	−0.050%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0157%	1h	802.20	−0.370%	$395K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0186%	1h	802.20	−0.371%	$162K	$64K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	802.06	−0.388%	$2.6M	$983K	50x	as long as short
BloFin BNB-USDT	+0.0240%	8h	802.70	−0.308%	$18.8M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0247%	1h	803.00	−0.271%	$51.9M	$22.2M	10x	as long as short
Bulk BNB-USD	+0.0295%	1h	807.66	+0.308%	$652K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	802.66	−0.313%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.011%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	802.55	−0.326%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	801.82	−0.417%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	802.90	−0.283%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0677%	1h	803.05	−0.265%	$3.0M	$5.5M	40x	as long as short