Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.001%

Price spread now: Aevo against Phemex−0.040%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$760.760% of the position

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now −0.040%, 7d avg −0.059%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.059%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.118%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	803.38	0.0114	pay 0.0114% / 8h	53m 49s	$70.2M	$51.0M	50x
Short	Aevo BNB-PERP	803.06	0.0104	get 0.0013% / 1h	53m 49s	$386K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.040%Rate

Funding earned: −$2.15
Price spread: −0.040% → −0.059%: $1.9
Slippage, 4 orders: −$48.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$76.29
Costs to cover: 0.760%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Aevo: live order book, 25 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 Phemex live order book, 5 min ago	0.25 bp	6.8 bp −$7	7.1 bp −$71	12.8 bp −$1,283	doesn't fit
Sell Aevo live order book, 25 min ago	11.55 bp	24.9 bp −$25	26.8 bp −$268	46.4 bp −$4,638	doesn't fit

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	802.65	−0.090%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.20	−0.022%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.80	−0.072%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.50	−0.110%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.25	−0.016%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.61	−0.096%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.216%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0053%	8h	802.65	−0.091%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.19	−0.148%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.331%	$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	803.10	−0.035%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.40	−0.122%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.93	−0.056%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.30	−0.134%	$54.8M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.10	−0.035%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.40	−0.122%	$35.8M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.49	−0.111%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.30	−0.134%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	802.60	−0.097%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.61	−0.096%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.67	−0.088%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.74	−0.080%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.91	−0.058%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.21	−0.021%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.90	−0.060%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.29	−0.011%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	803.29	−0.011%	$6.4M	$18.9M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.01	−0.171%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERPshort	+0.0104%	1h	803.06	−0.040%	$386K	$40K	10x
Phemex BNBUSDTlong	+0.0114%	8h	803.38	long leg	$70.2M	$51.0M	50x
Kalshi KXBNBPERP	+0.0115%	8h	802.20	−0.147%	$109K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0122%	8h	803.50	+0.015%	$83.6M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0124%	8h	803.25	−0.016%	$502.5M	$818.4M	75x	as long as short
Phoenix BNB	+0.0155%	1h	802.36	−0.127%	$172K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0234%	1h	802.90	−0.060%	$395K	$1.0M	10x	as long as short
BloFin BNB-USDT	+0.0243%	8h	803.22	−0.020%	$18.2M	$2.6M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.63	−0.094%	$71K	$49K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.92	−0.057%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.278%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	803.21	−0.021%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.213%	$19K	$789K	30x	as long as short
Hyperliquid BNB	+0.0310%	1h	803.26	−0.015%	$52.0M	$21.3M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0314%	1h	803.58	+0.025%	$2.7M	$5.7M	40x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	802.25	−0.140%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0432%	1h	803.81	+0.054%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0497%	1h	802.23	−0.143%	$162K	$62K	10x	as long as short