Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.003%

Price spread now: Bybit against ApeX Omni−0.078%69s7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.338% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 3 days (all we have)−0.055%−$5 · spread now −0.078%, 7d avg −0.096%

Together, before fees−0.165%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.096%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	799.22	0.0100	pay 0.0013% / 1h	22m 26s	$161K	$439K	50x
Short	Bybit BNBUSDT	798.60	0.0043	get 0.0043% / 8h	22m 26s	$138.6M	$77.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$11.92
Price spread: −0.078% → −0.096%: $1.81
Slippage, 4 orders: −$12.85
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.96
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 55 min ago; Bybit: live order book, 2 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 ApeX Omni live order book, 55 min ago	4.55 bp	9.6 bp −$10	38.4 bp −$384	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.63 bp	8.5 bp −$8	10.6 bp −$106	27.8 bp −$2,778	123.9 bp −$61.9K

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	798.98	−0.031%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.76	−0.058%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.27	−0.119%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.10	−0.015%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.96	−0.033%	$863K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.09	−0.017%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0013%	8h	798.06	−0.145%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0035%	8h	799.08	−0.018%	—	$34.7M	—	as long as short
Bybit BNBUSDTshort	+0.0043%	8h	798.60	−0.078%	$138.6M	$77.0M	75x
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	+0.084%	$606K	$986K	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	+0.0089%	8h	799.51	+0.036%	$6.3M	$19.1M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.84	−0.048%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.83	−0.049%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.76	−0.058%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.70	−0.065%	$54.3M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.20	−0.003%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.85	−0.046%	$35.8M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.85	−0.046%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.57	−0.081%	$79.1M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.56	−0.082%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	799.22	long leg	$161K	$439K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	798.94	−0.035%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.82	−0.050%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.02	−0.025%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.79	−0.054%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	−0.090%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.17	−0.006%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.73	−0.186%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.21	−0.002%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.53	−0.087%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.95	−0.034%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0110%	8h	798.71	−0.064%	$69.8M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0110%	8h	799.50	+0.035%	$83.0M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0110%	8h	799.52	+0.038%	$499.2M	$818.2M	75x	as long as short
Kalshi KXBNBPERP	+0.0126%	8h	798.80	−0.053%	$89K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	798.51	−0.089%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	798.02	−0.151%	$70K	$43K	12x	as long as short
Hyperliquid BNB	+0.0210%	1h	800.02	+0.100%	$52.5M	$21.2M	10x	as long as short
BloFin BNB-USDT	+0.0231%	8h	798.87	−0.044%	$18.2M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0239%	1h	800.03	+0.102%	$650K	$19K	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.09	−0.016%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	799.66	+0.055%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.734%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.63	−0.074%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0375%	1h	798.70	−0.066%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0395%	1h	799.15	−0.009%	$2.7M	$5.7M	40x	as long as short