Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.025%

Price spread now: Deribit against Variational Omni+0.045%7-day average +0.080% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 3 days (all we have)+0.054%+$5 · spread now +0.045%, 7d avg +0.080%

Together, before fees+0.138%+ Points / potential airdropVariational Omni: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.035% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.045% now, against its 7-day average of +0.080%). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.084% in total) that is about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	799.96	0.0021	pay 0.0021% / 8h	31m 41s	$4.1M	$5.4M	—
Short	Deribit BNB_USDC-PERPETUAL	800.32	0.0200	get 0.0025% / 1h	31m 41s	$1.6M	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee DeribitbpOrdersPrice spread, now +0.045%Rate

Funding earned: $37.55
Price spread: +0.045% → +0.080%: −$3.5
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $27.05
Costs to cover: 0.070%
Break-even: 2.0 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: live order book, 2 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 2 min ago	3.33 bp	doesn't fit	5.4 bp −$54	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	2.94 bp	9.0 bp −$9	13.6 bp −$136	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 −0.0201% / S +0.0372%	1h	799.88	−0.010%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.08	+0.015%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.66	−0.037%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	+0.129%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.76	+0.100%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.89	−0.009%	$9.7M	—	150x	as long as short
Variational Omni BNBlong	+0.0021%	8h	799.96	long leg	$4.1M	$5.4M	—
BingX BNB-USDT	+0.0043%	8h	799.76	−0.025%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0049%	8h	799.40	−0.070%	$138.7M	$77.8M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	−0.009%	$606K	$993K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0094%	8h	800.36	+0.050%	$6.3M	$19.0M	200x	as long as short
Lighter BNB	+0.0096%	1h	800.03	+0.009%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.66	−0.038%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.92	−0.005%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.40	−0.070%	$54.5M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.20	+0.030%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.55	−0.051%	$35.8M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.60	−0.045%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.39	−0.071%	$79.3M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.06	+0.138%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.03	+0.134%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.87	−0.011%	$117K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.79	−0.021%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.05	+0.012%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.44	+0.061%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.90	−0.007%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.02	+0.008%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.27	+0.038%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.28	−0.085%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.93	−0.004%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0111%	8h	800.39	+0.054%	$69.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0115%	8h	800.70	+0.093%	$83.1M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0116%	8h	800.29	+0.042%	$499.7M	$815.8M	75x	as long as short
Kalshi KXBNBPERP	+0.0116%	8h	800.60	+0.080%	$110K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	800.57	+0.077%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0184%	1h	800.06	+0.012%	$70K	$44K	12x	as long as short
Hyperliquid BNB	+0.0186%	1h	800.41	+0.057%	$51.9M	$21.1M	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	800.32	+0.045%	$1.6M	$165K	25x
BloFin BNB-USDT	+0.0237%	8h	800.43	+0.059%	$18.2M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.95	−0.002%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0305%	1h	801.82	+0.233%	$651K	$20K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.642%	$19K	$789K	30x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	800.68	+0.090%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.42	−0.067%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0393%	1h	800.10	+0.018%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0411%	1h	800.67	+0.089%	$2.7M	$5.7M	40x	as long as short