Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.054%

Price spread now: Aster against Backpack+0.051%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 7 days−0.170%−$17 · spread now +0.051%, 7d avg −0.042%

Together, before fees−0.359%+ Points / potential airdropAster: Stage 5 · farm board−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.093% dearer against Backpack than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.042%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	787.04	0.0100	pay 0.0013% / 1h	22m 33s	$2.2M	$6.1M	40x
Short	Aster BNBUSDT	787.44	0.0018	get 0.0018% / 8h	7h 22m	$6.0M	$18.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$17.28
Price spread: +0.051% → −0.042%: $9.32
Slippage, 4 orders: −$4.62
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$30.57
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; Aster: live order book, 1 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 Backpack live order book, 2 min ago	0.06 bp	7.6 bp −$8	10.1 bp −$101	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	0.13 bp	4.1 bp −$4	4.4 bp −$44	21.6 bp −$2,156	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 −0.0166% / S +0.0337%	1h	786.72	−0.041%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.07	+0.004%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	786.69	−0.044%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	785.24	−0.229%	$3.0M	$27.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.15	−0.113%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.57	−0.059%	$9.5M	—	150x	as long as short
Aster BNBUSDTshort	+0.0018%	8h	787.44	+0.051%	$6.0M	$18.2M	200x
BingX BNB-USDT	+0.0029%	8h	787.05	+0.001%	—	$22.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.293%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0035%	8h	788.40	+0.173%	$82.8M	$12.3M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0036%	8h	787.42	+0.048%	$488.9M	$805.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	787.05	+0.002%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.30	−0.094%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.51	+0.060%	$51.6M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.14	+0.012%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.90	−0.018%	$138.6M	$72.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.70	−0.043%	$53.5M	$110.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.10	+0.008%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.00	−0.005%	$39.7M	$56.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.60	−0.056%	$27.8M	$9.9M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.63	−0.052%	$75.4M	$32.3M	75x	as long as short
Backpack BNB_USDC_PERPlong	+0.0100%	1h	787.04	long leg	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	783.60	−0.437%	$4.3M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.05	−0.253%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.89	−0.273%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.05	+0.001%	$132K	$922K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.71	−0.042%	$264K	$357K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.27	−0.353%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.30	−0.094%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.90	−0.018%	$387K	$940K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.44	−0.076%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.35	+0.039%	$78K	$47K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.60	−0.056%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.59	−0.057%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0109%	8h	787.30	+0.033%	$160K	$2.6M	4.8x	as long as short
Phemex BNBUSDT	+0.0114%	8h	787.24	+0.025%	$68.5M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.14	+0.013%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	785.71	−0.169%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0141%	8h	787.11	+0.009%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.13	+0.011%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0200%	1h	784.80	−0.285%	$636K	$630	10x	as long as short
dYdX BNB-USD	+0.0216%	1h	786.78	−0.033%	$158K	$65K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	787.43	+0.050%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	786.66	−0.048%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.27	+0.029%	$1.1M	$887K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	786.60	−0.056%	$67K	$39K	12x	as long as short