Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h −0.039%

Price spread now: Hotstuff against Variational Omni+0.071%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 Hotstuff

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 · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.071% dearer against Variational Omni than usual: you sell high and buy low (spread +0.071% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	788.61	0.0050	pay 0.0050% / 8h	6h 10m	$4.1M	$4.9M	—
Short	Hotstuff BNB-PERP	789.17	−0.0080	pay 0.0010% / 1h	10m 34s	$4K	$239	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$27.23
Price spread: +0.071% → 0.000%: $7.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$25.15
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Hotstuff: 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	3.34 bp	doesn't fit	6.5 bp −$65	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 45 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 −0.0167% / S +0.0335%	1h	788.59	−0.003%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	788.97	+0.045%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	789.17	+0.071%	$4K	$239	25x
StandX BNB-USD	0.0000%	1h	789.55	+0.119%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.59	−0.002%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	789.56	+0.120%	$6.2M	$20.1M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.089%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0047%	8h	788.50	−0.014%	$35.1M	$57.4M	75x	as long as short
Variational Omni BNBlong	+0.0050%	8h	788.61	long leg	$4.1M	$4.9M	—
BingX BNB-USDC	+0.0050%	8h	788.67	+0.007%	—	$13.4M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	788.82	+0.026%	$619K	$1.9M	50x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.61	+0.127%	$69.0M	$50.7M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	789.50	+0.113%	$80.2M	$13.1M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	789.25	+0.080%	$494.2M	$824.5M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0072%	8h	788.72	+0.013%	$2.9M	$28.6M	10x	as long as short
dYdX BNB-USD	+0.0083%	1h	788.84	+0.029%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	788.56	−0.007%	$169K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.74	+0.016%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.00	+0.049%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.40	−0.027%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.18	+0.072%	$51.7M	$19.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.85	+0.030%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.52	−0.012%	$139.0M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.50	−0.014%	$53.4M	$113.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.90	+0.037%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.46	−0.019%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.41	−0.026%	$77.7M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.20	−0.052%	$4.1M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.71	+0.012%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.50	−0.014%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.08	+0.059%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.33	+0.092%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.10	+0.062%	$388K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.64	+0.004%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.27	+0.084%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.25	−0.046%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.02	+0.052%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	788.95	+0.043%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	789.10	+0.062%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.685%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.20	+0.075%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.30	−0.040%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0391%	1h	789.71	+0.139%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.50	+0.112%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	788.77	+0.020%	$68K	$39K	12x	as long as short