Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h +0.048%

Price spread now: Variational Omni against Hotstuff−0.174%7-day average — · you buy dearer than you sell

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

Long on Hotstuff 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 airdropHotstuff: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.174% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.174% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 5.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	801.44	−0.0080	get 0.0010% / 1h	59m 52s	$4K	$1K	25x
Short	Variational Omni BNB	800.04	0.0031	get 0.0031% / 8h	59m 52s	$4.2M	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hotstuff. 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 HotstuffbpFee Variational OmnibpOrdersPrice spread, now −0.174%Rate

Funding earned: $23.29
Price spread: −0.174% → 0.000%: −$17.44
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.85
Costs to cover: 0.050%
Break-even: 6.7 days

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 4 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	3.33 bp	doesn't fit	7.3 bp −$73	doesn't fit	doesn't fit

Hotstuff: 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	801.21	−0.029%	$48K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	801.44	long leg	$4K	$1K	25x
GRVT BNB_USDT_Perp	0.0000%	8h	800.22	−0.152%	$3.0M	$28.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	801.41	−0.004%	$866K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.25	−0.024%	$9.8M	—	150x	as long as short
Variational Omni BNBshort	+0.0031%	8h	800.04	−0.174%	$4.2M	$5.4M	—
BingX BNB-USDT	+0.0052%	8h	801.29	−0.019%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	800.90	−0.067%	$139.2M	$78.8M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.56	+0.015%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	800.72	−0.090%	$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
Aster BNBUSDT	+0.0099%	8h	801.92	+0.060%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.87	−0.071%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.29	−0.019%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.00	−0.055%	$54.8M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.50	+0.007%	$53K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.90	−0.067%	$35.8M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.16	−0.035%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.02	−0.052%	$80.9M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.55	−0.111%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	−0.110%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.15	−0.036%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.16	−0.035%	$387K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.40	−0.005%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.92	+0.060%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.80	−0.079%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.63	+0.024%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.81	−0.078%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.52	+0.010%	$385K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0108%	1h	801.30	−0.017%	$394K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	801.50	+0.007%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0114%	8h	801.76	+0.040%	$70.1M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0118%	8h	802.30	+0.107%	$83.3M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0120%	8h	801.98	+0.067%	$501.9M	$818.7M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.084%	$172K	$35K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.15	−0.036%	$2.6M	$970K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.23	−0.026%	$18.3M	$2.5M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	800.59	−0.106%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.036%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.70	+0.033%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.455%	$19K	$789K	30x	as long as short
Hyperliquid BNB	+0.0317%	1h	802.01	+0.071%	$51.9M	$21.6M	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.24	−0.025%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	802.05	+0.076%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	800.83	−0.076%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0368%	1h	800.88	−0.070%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0556%	1h	802.04	+0.075%	$2.7M	$5.7M	40x	as long as short