BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0300%/8h= +32.8% APRnext payment +$0.37 per $10,000 · paid last 24h +0.023%

Price spread now: Deribit against SoDEX+0.051%7-day average +0.025% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on SoDEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.051%, 7d avg +0.025%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.026% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.025%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.013% in total (about 1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	786.00	0.0100	pay 0.0013% / 1h	33m 48s	$386K	$983K	10x
Short	Deribit BNB_USDC-PERPETUAL	786.40	0.0400	get 0.0050% / 1h	33m 48s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $63
Price spread: +0.051% → +0.025%: $2.58
Slippage, 4 orders: −$10.3
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $40.28
Costs to cover: 0.253%
Break-even: 2.5 days

Slippage from SoDEX: live order book, 20 min ago; Deribit: live order book, just now.

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, 20 min ago	0.63 bp	4.6 bp −$5	8.6 bp −$86	75.0 bp −$7,497	doesn't fit
Sell Deribit live order book, just now	2.61 bp	7.4 bp −$7	13.0 bp −$130	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 −0.0170% / S +0.0337%	1h	785.92	−0.010%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.27	+0.034%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.66	+0.084%	$848K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.83	−0.022%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.429%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0049%	8h	786.51	+0.065%	$6.0M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0052%	8h	786.05	+0.006%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.20	+0.153%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	786.49	+0.062%	$490.0M	$814.7M	75x	as long as short
dYdX BNB-USD	+0.0067%	1h	785.68	−0.041%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0076%	8h	786.47	+0.060%	$68.8M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.112%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.06	+0.007%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.75	−0.032%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.64	+0.081%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.10	+0.013%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.80	−0.025%	$138.3M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.80	−0.025%	$53.4M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.10	+0.013%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.00	0.000%	$37.3M	$59.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.70	−0.038%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.86	−0.018%	$76.1M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.50	+0.064%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.51	−0.062%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.54	+0.069%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.24	+0.031%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.70	−0.038%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.91	−0.011%	$264K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	+0.004%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.41	+0.053%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USDlong	+0.0100%	1h	786.00	long leg	$386K	$983K	10x
HTX BNB-USDT	+0.0100%	8h	786.03	+0.004%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.44	+0.056%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.57	−0.055%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.93	−0.008%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.29	+0.037%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0135%	8h	786.50	+0.064%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0184%	8h	786.45	+0.057%	$17.7M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	785.71	−0.037%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0228%	8h	786.80	+0.102%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	786.40	+0.051%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.138%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	785.51	−0.063%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0400%	1h	786.40	+0.051%	$1.5M	$143K	25x
RISEx BNB/USDC	+0.0438%	1h	786.18	+0.022%	$1.1M	$913K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	786.11	+0.014%	$67K	$39K	12x	as long as short