Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0231%/8h= +25.3% APRpaid last 24h +0.065%

Price spread now: Reya against Orderly−0.039%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Reya

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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.039% cheaper against Orderly than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	798.90	0.0100	pay 0.0100% / 8h	1m 38s	$386K	$494K	50x
Short	Reya BNBRUSDPERP	798.59	0.0331	get 0.0041% / 1h	1m 38s	$6K	$3K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.039%Rate

Funding earned: $48.48
Price spread: −0.039% → 0.000%: −$3.92
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: $32.56
Costs to cover: 0.120%
Break-even: 2.3 days

Slippage unknown: Orderly: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Orderly and Reya: 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	799.01	+0.014%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.26	+0.045%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.00	+0.012%	$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	800.01	+0.139%	$865K	$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	799.00	+0.012%	$9.7M	—	150x	as long as short
BingX BNB-USDT	+0.0030%	8h	799.40	+0.063%	—	$35.2M	—	as long as short
Bybit BNBUSDT	+0.0040%	8h	799.20	+0.038%	$138.8M	$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	+0.0077%	8h	799.87	+0.122%	$6.2M	$19.2M	200x	as long as short
Phemex BNBUSDT	+0.0093%	8h	799.47	+0.071%	$69.9M	$50.7M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.56	+0.082%	$2.8M	$4.1M	20x	as long as short
Binance BNBUSDT	+0.0097%	8h	799.84	+0.118%	$497.9M	$818.6M	75x	as long as short
MEXC BNB_USDT	+0.0098%	8h	800.20	+0.163%	$83.2M	$13.6M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.72	−0.022%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.51	+0.076%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.10	+0.025%	$54.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.40	+0.063%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.00	+0.013%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.28	+0.048%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.12	+0.028%	$78.9M	$27.6M	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	798.92	+0.003%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	798.90	long leg	$386K	$494K	50x
Derive BNB-PERP	+0.0100%	1h	799.06	+0.020%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.51	+0.077%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.20	+0.038%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.37	+0.058%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.24	+0.042%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.92	+0.128%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.99	+0.012%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.05	+0.019%	$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	799.50	+0.075%	$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	+0.0248%	1h	800.15	+0.156%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.34	+0.054%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.52	+0.078%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.775%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0321%	1h	799.74	+0.105%	$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 BNBRUSDPERPshort	+0.0331%	1h	798.59	−0.039%	$6K	$3K	40x