Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.013%

Price spread now: Bybit against SoDEX−0.063%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now −0.063%, 7d avg −0.045%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, 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	SoDEX BNB-USD	787.60	0.0100	pay 0.0013% / 1h	57m 35s	$387K	$926K	10x
Short	Bybit BNBUSDT	787.10	0.0052	get 0.0052% / 8h	5h 57m	$138.5M	$67.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$10.13
Price spread: −0.063% → −0.045%: −$1.83
Slippage, 4 orders: −$4.11
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.08
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from SoDEX: live order book, 54 min ago; Bybit: live order book, 5 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 SoDEX live order book, 54 min ago	0.64 bp	4.6 bp −$5	8.3 bp −$83	81.2 bp −$8,123	doesn't fit
Sell Bybit live order book, 5 min ago	0.63 bp	6.1 bp −$6	8.3 bp −$83	22.5 bp −$2,249	125.0 bp −$62.5K

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	787.50	−0.012%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0085%	1h	787.40	−0.026%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.09	+0.062%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.95	+0.044%	$5.9M	$17.1M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.97	+0.047%	$2.9M	$26.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.00	+0.051%	$139K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.28	+0.086%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.41	−0.024%	$9.5M	—	150x	as long as short
Binance BNBUSDT	+0.0017%	8h	787.93	+0.042%	$481.7M	$767.2M	75x	as long as short
MEXC BNB_USDT	+0.0017%	8h	789.00	+0.178%	$83.4M	$11.7M	200x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.221%	$19K	$789K	30x	as long as short
Bybit BNBUSDTshort	+0.0052%	8h	787.10	−0.063%	$138.5M	$67.3M	75x
BloFin BNB-USDT	+0.0070%	8h	788.17	+0.072%	$18.4M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0089%	8h	788.09	+0.062%	$68.5M	$51.1M	50x	as long as short
Phoenix BNB	+0.0094%	1h	787.98	+0.048%	$158K	$44K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.47	−0.017%	$2.7M	$3.3M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.40	−0.025%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.00	+0.051%	$51.9M	$16.9M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.66	+0.007%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.038%	$53.3M	$102.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	0.000%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.35	−0.032%	$41.1M	$53.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.17	−0.055%	$28.2M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.05	−0.070%	$75.6M	$30.8M	75x	as long as short
BingX BNB-USDC	+0.0100%	8h	787.47	−0.017%	—	$13.4M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.91	+0.039%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.17	−0.055%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.96	+0.046%	$4.1M	$75.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.98	+0.048%	$159K	$444K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.54	−0.008%	$130K	$905K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.51	−0.011%	$265K	$297K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.09	+0.063%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USDlong	+0.0100%	1h	787.60	long leg	$387K	$926K	10x
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.79	+0.024%	$1.5M	$157K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.86	+0.033%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.85	+0.031%	$78K	$356K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.92	−0.087%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.50	−0.012%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	788.03	+0.055%	$545K	$1.9M	50x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.88	+0.036%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0277%	1h	788.58	+0.124%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	787.04	−0.071%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	787.86	+0.033%	$67K	$37K	12x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.84	+0.031%	$1.1M	$901K	20x	as long as short
dYdX BNB-USD	+0.1122%	1h	787.47	−0.016%	$158K	$34K	10x	as long as short