Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Derive against Orderly+0.004%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	788.45	0.0100	pay 0.0100% / 8h	4h 03m	$265K	$492K	50x
Short	Derive BNB-PERP	788.48	0.0100	get 0.0013% / 1h	3m 55s	$31K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Orderly. 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 OrderlybpFee DerivebpOrdersPrice spread, now +0.004%Rate

Funding earned: $0.01
Price spread: +0.004% → 0.000%: $0.37
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Derive: 3 bp × 2 orders: −$6
Net: −$11.62
Costs to cover: 0.120%
Break-even: 7750.4 days

Slippage unknown: Orderly: no order-book sample; Derive: 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 Orderly no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

Orderly and Derive: 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 −0.0189% / S +0.0354%	1h	788.31	−0.018%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.30	−0.019%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.68	+0.029%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.39	−0.008%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	789.14	+0.087%	$6.1M	$18.7M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.110%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0046%	8h	788.69	+0.030%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	789.40	+0.120%	$80.1M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	789.14	+0.088%	$492.5M	$791.4M	75x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.19	+0.094%	$69.0M	$50.3M	50x	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	+0.0064%	1h	788.26	−0.024%	$579K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.78	+0.042%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	788.45	long leg	$265K	$492K	50x
Nado BNB-PERP	+0.0100%	1h	787.75	−0.089%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.10	+0.082%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.24	−0.027%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.006%	$138.7M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	−0.006%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	−0.019%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.45	0.000%	$35.5M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.41	−0.005%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.26	−0.024%	$76.3M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.95	+0.063%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.094%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.58	+0.017%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.72	+0.034%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.037%	$133K	$950K	10x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	788.48	+0.004%	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	788.71	+0.033%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.60	+0.019%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.52	+0.009%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.36	−0.011%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.18	−0.035%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.50	+0.007%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	788.48	+0.004%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0119%	1h	787.86	−0.075%	$159K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0154%	8h	788.72	+0.034%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	788.80	+0.044%	$132K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0177%	8h	788.55	+0.013%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	+0.015%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.67	+0.028%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.45	0.000%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.88	+0.054%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.05	−0.050%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0360%	1h	788.19	−0.033%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	788.44	−0.002%	$1.1M	$967K	20x	as long as short