Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.017%

Price spread now: Deribit against OKX+0.111%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now +0.111%, 7d avg +0.069%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.042% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	806.00	0.0100	pay 0.0100% / 8h	1h 37m	$55.1M	$116.0M	50x
Short	Deribit BNB_USDC-PERPETUAL	806.89	0.0300	get 0.0037% / 1h	37m 40s	$1.6M	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.111%Rate

Funding earned: $42
Price spread: +0.111% → +0.069%: $4.18
Slippage, 4 orders: −$11.78
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $17.41
Costs to cover: 0.288%
Break-even: 4.1 days

Slippage from OKX: live order book, 1 min ago; Deribit: live order book, 1 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 OKX live order book, 1 min ago	0.62 bp	6.1 bp −$6	7.6 bp −$76	20.1 bp −$2,006	doesn't fit
Sell Deribit live order book, 1 min ago	5.02 bp	8.5 bp −$9	14.2 bp −$142	doesn't fit	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	806.68	+0.085%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.83	+0.103%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	807.25	+0.155%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	807.00	+0.124%	$106K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.95	+0.118%	$872K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.75	+0.094%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0044%	8h	806.56	+0.069%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0059%	8h	806.24	+0.030%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	805.80	−0.025%	$139.6M	$81.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	806.41	+0.050%	$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
Hibachi BNB/USDT-P	+0.0096%	1h	807.09	+0.135%	$72K	$48K	12x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	−0.057%	$608K	$881K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.25	+0.031%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	806.35	+0.043%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	806.00	long leg	$55.1M	$116.0M	50x
Arcus BNB-USD	+0.0100%	1h	806.60	+0.074%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	806.00	0.000%	$36.1M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.94	−0.007%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.80	−0.025%	$78.8M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	807.43	+0.178%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	807.11	+0.138%	$162K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.62	+0.077%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.68	+0.084%	$390K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.94	+0.117%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	807.39	+0.173%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.40	+0.050%	$8.2M	$7.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.77	+0.096%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	805.71	−0.036%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.52	+0.064%	$387K	$40K	10x	as long as short
Aster BNBUSDT	+0.0107%	8h	806.82	+0.102%	$6.4M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0122%	8h	807.10	+0.136%	$84.8M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0123%	8h	806.82	+0.102%	$520.9M	$804.0M	75x	as long as short
Phemex BNBUSDT	+0.0135%	8h	807.03	+0.128%	$70.4M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	807.20	+0.149%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0184%	1h	806.60	+0.074%	$397K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0201%	1h	806.57	+0.071%	$163K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	806.38	+0.047%	$2.5M	$929K	50x	as long as short
Hyperliquid BNB	+0.0229%	1h	807.17	+0.146%	$52.0M	$21.8M	10x	as long as short
BloFin BNB-USDT	+0.0242%	8h	806.92	+0.114%	$18.8M	$2.6M	75x	as long as short
Bulk BNB-USD	+0.0295%	1h	807.66	+0.206%	$652K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0300%	1h	806.89	+0.111%	$1.6M	$165K	25x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.113%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	806.35	+0.044%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	806.33	+0.041%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0360%	1h	807.29	+0.160%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0695%	1h	807.41	+0.175%	$3.0M	$5.5M	40x	as long as short