Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.004%

Price spread now: Polymarket Perps against Phemex−0.073%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.311%+$31 · spread now −0.073%, 7d avg −0.072%

Together, before fees+0.389%+$39 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.072%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	789.21	0.0075	pay 0.0075% / 8h	5h 40m	$69.1M	$51.0M	50x
Short	Polymarket Perps BNB-USD	788.63	0.0100	get 0.0013% / 1h	40m 14s	$137K	$946K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.073%Rate

Funding earned: $5.21
Price spread: −0.073% → −0.072%: −$0.15
Slippage, 4 orders: −$11.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$26.85
Costs to cover: 0.319%
Break-even: 43.1 days

Slippage from Phemex: live order book, 4 min ago; Polymarket Perps: live order book, 23 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, 4 min ago	2.22 bp	9.2 bp −$9	11.1 bp −$111	15.4 bp −$1,540	doesn't fit
Sell Polymarket Perps live order book, 23 min ago	2.03 bp	6.0 bp −$6	6.3 bp −$63	14.1 bp −$1,413	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 −0.0167% / S +0.0335%	1h	788.49	−0.091%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.97	−0.030%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.22	+0.128%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.59	−0.079%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.012%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	789.11	−0.013%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.09	−0.015%	$618K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	788.74	−0.060%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0074%	8h	789.50	+0.037%	$80.3M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0074%	8h	789.23	+0.003%	$493.5M	$806.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDTlong	+0.0075%	8h	789.21	long leg	$69.1M	$51.0M	50x
Variational Omni BNB	+0.0086%	8h	787.60	−0.204%	$4.1M	$4.6M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.52	−0.087%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.85	−0.046%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.64	−0.072%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.65	−0.071%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.15	−0.008%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.88	−0.042%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.50	−0.090%	$138.6M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.50	−0.090%	$53.5M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.90	−0.039%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.60	−0.077%	$35.3M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.48	−0.092%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.39	−0.104%	$76.9M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.95	−0.033%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.32	+0.014%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.87	−0.043%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USDshort	+0.0100%	1h	788.63	−0.073%	$137K	$946K	10x
Derive BNB-PERP	+0.0100%	1h	788.88	−0.042%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.42	+0.026%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.73	−0.061%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.45	+0.030%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.33	−0.112%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.61	−0.076%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	789.13	−0.010%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0132%	8h	789.50	+0.037%	$2.9M	$28.2M	10x	as long as short
SoDEX BNB-USD	+0.0151%	1h	788.70	−0.065%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0186%	8h	789.30	+0.011%	$95K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	788.40	−0.103%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0237%	1h	788.16	−0.133%	$159K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.08	−0.017%	$1.5M	$152K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	789.47	+0.033%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.45	−0.097%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.12	−0.012%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.147%	$638K	$13K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	789.66	+0.057%	$67K	$38K	12x	as long as short