Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0206%/8h= +22.6% APRpaid last 24h −0.008%

Price spread now: Injective against OKX+0.775%7-day average −0.315% · you sell dearer than you buy

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$20 on $10k

Price spread, last 3 days (all we have)−1.275%−$127 · spread now +0.775%, 7d avg −0.315%

Together, before fees−1.470%−$147 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 Injective is 1.090% dearer against OKX than usual: you sell high and buy low: +$109 more if the spread goes back to its 7-day average of −0.315%. Mind the row above: over the last 7 days funding on this pair cost −0.195%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	798.90	0.0100	pay 0.0100% / 8h	3m 10s	$54.4M	$112.8M	50x
Short	Injective BNB/USDC PERP	805.09	0.0306	get 0.0038% / 1h	3m 10s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.775%Rate

Funding earned: $43.29
Price spread: +0.775% → −0.315%: $108.99
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $142.26
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 6 min ago; Injective: no order-book sample. 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 OKX live order book, 6 min ago	0.63 bp	5.6 bp −$6	7.0 bp −$70	16.9 bp −$1,685	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	799.10	+0.025%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.45	+0.069%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.16	+0.033%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.022%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.91	+0.126%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0007%	8h	797.54	−0.170%	$4.1M	$5.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.20	+0.038%	$9.7M	—	150x	as long as short
BingX BNB-USDT	+0.0030%	8h	799.15	+0.031%	—	$35.2M	—	as long as short
Bybit BNBUSDT	+0.0038%	8h	798.90	0.000%	$138.7M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.028%	$602K	$986K	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	+0.0078%	8h	799.71	+0.101%	$6.2M	$19.2M	200x	as long as short
Phemex BNBUSDT	+0.0094%	8h	799.57	+0.084%	$69.9M	$50.6M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.34	+0.055%	$2.8M	$4.1M	20x	as long as short
MEXC BNB_USDT	+0.0099%	8h	799.90	+0.125%	$83.1M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0099%	8h	799.49	+0.074%	$497.7M	$818.2M	75x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.95	+0.006%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.38	+0.060%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	798.90	long leg	$54.4M	$112.8M	50x
Arcus BNB-USD	+0.0100%	1h	799.40	+0.063%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.75	−0.019%	$35.7M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.06	+0.020%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.79	−0.014%	$78.9M	$27.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.64	−0.032%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.21	+0.039%	$161K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.16	+0.033%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.04	+0.018%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.23	+0.042%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.79	+0.111%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	+0.050%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.56	+0.083%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.54	+0.081%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.80	+0.113%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.80	−0.012%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.23	+0.041%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.066%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.44	+0.067%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERP	+0.0153%	8h	799.70	+0.100%	$90K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	−0.009%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0219%	8h	799.70	+0.100%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0246%	1h	799.85	+0.119%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.24	+0.043%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.73	+0.104%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERPshort	+0.0306%	1h	805.09	+0.775%	$19K	$789K	30x
Backpack BNB_USDC_PERP	+0.0328%	1h	799.43	+0.066%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0329%	1h	798.88	−0.003%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.92	+0.002%	$6K	$3K	40x	as long as short