Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0069%/8h= +7.6% APRpaid last 24h +0.001%

Price spread now: Derive against Variational Omni+0.169%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Derive is 0.169% dearer against Variational Omni than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	800.04	0.0031	pay 0.0031% / 8h	1h 00m	$4.2M	$5.4M	—
Short	Derive BNB-PERP	801.40	0.0100	get 0.0013% / 1h	0m 15s	$32K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Variational Omni. 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 Variational OmnibpFee DerivebpOrdersPrice spread, now +0.169%Rate

Funding earned: $14.51
Price spread: +0.169% → 0.000%: $16.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: $25.44
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Derive: no order-book sample. 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, 4 min ago	3.33 bp	doesn't fit	5.4 bp −$54	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	801.21	+0.146%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.44	+0.175%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.22	+0.023%	$3.0M	$28.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	801.41	+0.171%	$866K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.25	+0.150%	$9.8M	—	150x	as long as short
Variational Omni BNBlong	+0.0031%	8h	800.04	long leg	$4.2M	$5.4M	—
BingX BNB-USDC	+0.0052%	8h	801.10	+0.132%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	800.84	+0.100%	$139.2M	$78.8M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.56	+0.189%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	800.72	+0.085%	$607K	$998K	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	+0.0099%	8h	801.83	+0.224%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.87	+0.103%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.29	+0.156%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.90	+0.107%	$54.8M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.50	+0.182%	$53K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.90	+0.107%	$35.8M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.01	+0.121%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.00	+0.120%	$80.8M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.55	+0.063%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	+0.065%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.15	+0.138%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.16	+0.140%	$387K	$489K	50x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	801.40	+0.169%	$32K	$5K	10x
SunX BNB-USDT	+0.0100%	8h	801.92	+0.235%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.80	+0.095%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.63	+0.199%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.81	+0.097%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.52	+0.185%	$385K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0108%	1h	801.30	+0.157%	$394K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	801.00	+0.120%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0114%	8h	801.76	+0.215%	$70.1M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0118%	8h	802.20	+0.270%	$83.3M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0120%	8h	801.96	+0.240%	$501.8M	$818.6M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	+0.091%	$172K	$35K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.15	+0.138%	$2.6M	$970K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.23	+0.148%	$18.3M	$2.5M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	800.59	+0.068%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	+0.138%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.70	+0.207%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.631%	$19K	$789K	30x	as long as short
Hyperliquid BNB	+0.0317%	1h	801.87	+0.228%	$51.9M	$21.6M	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.24	+0.150%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	802.05	+0.251%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	800.83	+0.099%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0368%	1h	800.88	+0.105%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0556%	1h	801.75	+0.213%	$2.7M	$5.7M	40x	as long as short