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: dYdX against OKX+0.086%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

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

Long on OKX Short on dYdX

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)−0.085%−$9 · spread now +0.086%, 7d avg +0.025%

Together, before fees+0.381%+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and dYdX is 0.061% dearer against OKX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	802.20	0.0100	pay 0.0100% / 8h	52m 28s	$54.8M	$113.7M	50x
Short	dYdX BNB-USD	802.89	0.0496	get 0.0062% / 1h	52m 28s	$162K	$62K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.086%Rate

Funding earned: $83.22
Price spread: +0.086% → +0.025%: $6.1
Slippage, 4 orders: −$30.97
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $38.35
Costs to cover: 0.510%
Break-even: 3.8 days

Slippage from OKX: live order book, 2 min ago; dYdX: live order book, 26 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, 2 min ago	0.62 bp	5.6 bp −$6	8.1 bp −$81	21.0 bp −$2,104	doesn't fit
Sell dYdX live order book, 26 min ago	14.76 bp	20.0 bp −$20	46.2 bp −$462	63.2 bp −$6,320	126.0 bp −$63.0K

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	802.98	+0.097%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.26	+0.132%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	803.00	+0.100%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.91	+0.088%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.214%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.05	+0.106%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.070%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.61	+0.051%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.04	−0.020%	$139.3M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.184%	$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	802.79	+0.073%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.10	−0.012%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.85	+0.081%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	802.20	long leg	$54.8M	$113.7M	50x
Arcus BNB-USD	+0.0100%	1h	803.00	+0.100%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.40	+0.025%	$35.8M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.39	+0.024%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.06	−0.017%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.03	+0.104%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.61	+0.051%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.36	+0.020%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	803.05	+0.106%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.18	+0.122%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.86	+0.207%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.90	+0.087%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.32	+0.139%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	802.09	−0.013%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.36	+0.145%	$386K	$40K	10x	as long as short
Aster BNBUSDT	+0.0104%	8h	803.16	+0.120%	$6.4M	$19.0M	200x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	803.50	+0.162%	$109K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0115%	8h	803.64	+0.180%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.40	+0.150%	$83.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.07	+0.109%	$502.3M	$818.3M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.21	+0.126%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0231%	1h	803.10	+0.112%	$395K	$1.0M	10x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.74	+0.192%	$18.2M	$2.6M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.88	+0.084%	$71K	$49K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.73	+0.066%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.131%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	803.47	+0.158%	$1.6M	$165K	25x	as long as short
Hyperliquid BNB	+0.0300%	1h	803.53	+0.166%	$52.0M	$21.3M	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.360%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0320%	1h	803.68	+0.184%	$2.7M	$5.7M	40x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.98	−0.028%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0424%	1h	803.18	+0.122%	$28K	$2K	10x	as long as short
dYdX BNB-USDshort	+0.0496%	1h	802.89	+0.086%	$162K	$62K	10x