Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0225%/8h= +24.6% APRpaid last 24h +0.067%

Price spread now: Reya against Paradex−0.108%47s7-day average — · you buy dearer than you sell

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

Long on Paradex 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 airdropParadex: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.108% cheaper against Paradex than usual: you would sell low and buy high (spread −0.108% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 38 hours of funding at the current rate (+$7 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BNB-USD-PERP	790.65	0.0100	pay 0.0100% / 8h	3h 52m	$77K	$17K	50x
Short	Reya BNBRUSDPERP	789.80	0.0325	get 0.0041% / 1h	52m 35s	$6K	$3K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Paradex. 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 ParadexbpFee ReyabpOrdersPrice spread, now −0.108%Rate

Funding earned: $47.21
Price spread: −0.108% → 0.000%: −$10.76
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $26.46
Costs to cover: 0.100%
Break-even: 3.1 days

Slippage unknown: Paradex: 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 Paradex no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Paradex 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 −0.0191% / S +0.0355%	1h	789.96	−0.088%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	790.15	−0.064%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.37	−0.036%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.94	−0.090%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.99	−0.083%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.826%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	790.77	+0.015%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	790.41	−0.031%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	791.10	+0.056%	$80.2M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	790.82	+0.022%	$493.9M	$795.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0061%	8h	790.66	+0.001%	$69.1M	$50.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	789.35	−0.165%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	−0.032%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	790.41	−0.031%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.09	−0.071%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.50	−0.146%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.72	+0.008%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.43	−0.028%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.20	−0.057%	$139.0M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.10	−0.070%	$53.5M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.40	−0.032%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.25	−0.051%	$35.7M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.07	−0.074%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.99	−0.084%	$76.5M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.56	−0.012%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.170%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.17	−0.061%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.54	−0.014%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.80	−0.108%	$130K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.19	−0.058%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.58	−0.009%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.20	−0.057%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.89	−0.097%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERPlong	+0.0100%	8h	790.65	long leg	$77K	$17K	50x
Extended BNB-USD	+0.0104%	1h	789.93	−0.091%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.02	−0.080%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	789.80	−0.108%	$135K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.96	−0.088%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0163%	8h	789.64	−0.129%	$2.9M	$28.5M	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	790.49	−0.021%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	790.66	+0.001%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	790.89	+0.030%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.57	−0.011%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERPshort	+0.0325%	1h	789.80	−0.108%	$6K	$3K	40x
Hibachi BNB/USDT-P	+0.0376%	1h	790.06	−0.075%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	790.63	−0.002%	$1.1M	$892K	20x	as long as short