BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.018%

Price spread now: Deribit against Polymarket Perps−0.028%48s7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.320% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.028%, 7d avg +0.047%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.075% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.047%). If the spread goes back, that is −$7 on $10k: about 2.5 days of funding at the current rate (+$3 a day). The two prices were read 48 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	Polymarket Perps BNB-USD	798.67	0.0100	pay 0.0013% / 1h	16m 26s	$113K	$884K	10x
Short	Deribit BNB_USDC-PERPETUAL	798.45	0.0200	get 0.0025% / 1h	16m 26s	$1.6M	$161K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Polymarket Perps. 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 Polymarket PerpsbpFee DeribitbpOrdersPrice spread, now −0.028%Rate

Funding earned: $21
Price spread: −0.028% → +0.047%: −$7.45
Slippage, 4 orders: −$17.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.47
Costs to cover: 0.320%
Break-even: 13.2 days

Slippage from Polymarket Perps: live order book, 57 min ago; Deribit: live order book, 3 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 Polymarket Perps live order book, 57 min ago	2.38 bp	6.8 bp −$7	7.6 bp −$76	13.8 bp −$1,383	doesn't fit
Sell Deribit live order book, 3 min ago	3.01 bp	10.4 bp −$10	17.8 bp −$178	doesn't fit	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 −0.0159% / S +0.0335%	1h	798.65	−0.003%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.97	−0.088%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.43	−0.030%	$4K	$239	25x	as long as short
Gate BNB_USDT	0.0000%	8h	798.50	−0.021%	$35.9M	$56.8M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.85	+0.023%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.98	+0.039%	$863K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0004%	8h	797.72	−0.119%	$4.1M	$5.0M	—	as long as short
BingX BNB-USDC	+0.0007%	8h	797.66	−0.126%	—	$13.3M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.65	−0.003%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0028%	8h	798.75	+0.010%	$69.7M	$50.2M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BNBUSDT	+0.0030%	8h	798.50	−0.021%	$138.6M	$76.3M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.804%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.050%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0052%	8h	799.35	+0.086%	$6.1M	$19.4M	200x	as long as short
MEXC BNB_USDT	+0.0074%	8h	799.70	+0.129%	$83.2M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	799.28	+0.076%	$496.3M	$811.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	798.88	+0.027%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.13	+0.058%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.45	−0.028%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.98	+0.039%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.50	−0.021%	$54.2M	$110.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	+0.054%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.68	+0.001%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.45	−0.028%	$78.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.91	+0.030%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.95	+0.035%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USDlong	+0.0100%	1h	798.67	long leg	$113K	$884K	10x
Orderly PERP_BNB_USDC	+0.0100%	8h	798.73	+0.008%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.16	−0.064%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.71	+0.005%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.20	−0.059%	$392K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.76	−0.114%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.39	+0.090%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.43	−0.030%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.82	+0.019%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.109%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.90	+0.029%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0158%	8h	798.70	+0.004%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	798.84	+0.021%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0198%	1h	798.51	−0.020%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.33	+0.083%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	798.45	−0.028%	$1.6M	$161K	25x
Hibachi BNB/USDT-P	+0.0280%	1h	797.79	−0.111%	$68K	$38K	12x	as long as short
Hyperliquid BNB	+0.0293%	1h	799.60	+0.116%	$53.1M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.46	−0.026%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	799.14	+0.059%	$2.7M	$5.7M	40x	as long as short