Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.012%

Price spread now: Bybit against Arcus−0.037%46s7-day average −0.129% · you buy dearer than you sell

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

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

costs, in and out, $10k−$350.345% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.107%−$11 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.037%, 7d avg −0.129%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.092% dearer against Arcus than usual: you sell high and buy low (spread −0.037% now, against its 7-day average of −0.129%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 3 days (−0.107% in total) that is about 2.8 days. The two prices were read 46 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	Arcus BNB-USD	805.30	0.0100	pay 0.0013% / 1h	10m 54s	$53K	$170K	10x
Short	Bybit BNBUSDT	805.00	0.0079	get 0.0079% / 8h	2h 10m	$139.7M	$81.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$4.41
Price spread: −0.037% → −0.129%: $9.2
Slippage, 4 orders: −$19.04
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.74
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Arcus: live order book, 12 min ago; Bybit: live order book, 8 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 Arcus live order book, 12 min ago	6.20 bp	9.6 bp −$10	24.6 bp −$246	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	0.62 bp	7.1 bp −$7	10.2 bp −$102	29.8 bp −$2,977	163.0 bp −$81.5K

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 −0.0195% / S +0.0371%	1h	804.89	−0.052%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.14	−0.020%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.48	+0.022%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.40	+0.012%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.50	+0.025%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.94	−0.044%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	805.12	−0.022%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0050%	8h	805.71	+0.051%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0054%	8h	805.21	−0.011%	—	$13.3M	—	as long as short
Bybit BNBUSDTshort	+0.0079%	8h	805.00	−0.037%	$139.7M	$81.7M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	−0.019%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	805.21	−0.011%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0097%	8h	805.66	+0.044%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.45	−0.106%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.95	−0.043%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.00	−0.037%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USDlong	+0.0100%	1h	805.30	long leg	$53K	$170K	10x
Gate BNB_USDT	+0.0100%	8h	805.15	−0.019%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.21	−0.011%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.96	−0.042%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.79	+0.185%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.36	+0.132%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.86	−0.055%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.94	−0.045%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.99	−0.039%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.43	+0.017%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.52	+0.027%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.95	−0.043%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.57	+0.034%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.90	−0.049%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.05	−0.030%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0114%	8h	806.20	+0.112%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0114%	8h	805.97	+0.083%	$520.9M	$806.5M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.040%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0134%	8h	805.65	+0.043%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0194%	1h	805.00	−0.037%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.05	−0.031%	$1.1M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0213%	1h	805.51	+0.026%	$51.9M	$21.9M	10x	as long as short
BloFin BNB-USDT	+0.0234%	8h	805.45	+0.019%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0240%	1h	804.86	−0.055%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.00	−0.037%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.009%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.69	−0.075%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.77	+0.058%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.051%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0651%	1h	806.00	+0.087%	$3.0M	$5.5M	40x	as long as short