Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.056%

Price spread now: Bulk against Bitget+0.889%7-day average +0.140% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$55as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Bitget Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.229%+$23 on $10k

Price spread, last 4 days (all we have)−0.793%−$79 · spread now +0.889%, 7d avg +0.140%

Together, before fees−0.564%−$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Bulk is 0.749% dearer against Bitget than usual: you sell high and buy low: +$75 more if the spread goes back to its 7-day average of +0.140%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BNBUSDT	800.54	0.0100	pay 0.0100% / 8h	1h 30m	$81.0M	$26.8M	75x
Short	Bulk BNB-USD	807.66	0.0295	get 0.0037% / 1h	30m 51s	$652K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bitget. 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 BitgetbpFee BulkbpOrdersPrice spread, now +0.889%Rate

Funding earned: $40.89
Price spread: +0.889% → +0.140%: $74.93
Slippage, 4 orders: −$1.37
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $95.45
Costs to cover: 0.204%
Break-even: from the start

Slippage from Bitget: live order book, 3 min ago; Bulk: live order book, 53 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 Bitget live order book, 3 min ago	0.06 bp	7.2 bp −$7	14.8 bp −$148	doesn't fit	doesn't fit
Sell Bulk live order book, 53 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	7.4 bp −$741	16.5 bp −$8,254

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	801.16	+0.077%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.96	+0.177%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.39	+0.606%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.90	+0.170%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.23	+0.211%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.15	+0.076%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0041%	8h	805.56	+0.627%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0058%	8h	801.05	+0.064%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	800.50	−0.005%	$139.5M	$83.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.11	+0.071%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.19	+0.081%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	801.20	+0.083%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.30	+0.095%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.67	+0.141%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.40	−0.017%	$54.8M	$117.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.80	+0.157%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.65	+0.014%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.49	−0.006%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDTlong	+0.0100%	8h	800.54	long leg	$81.0M	$26.8M	75x
edgeX BNBUSDC	+0.0100%	4h	802.78	+0.280%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	+0.240%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.32	+0.097%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.85	+0.039%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.16	+0.077%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.87	+0.166%	$11K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.56	+0.127%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.04	+0.187%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.32	−0.028%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.21	+0.083%	$385K	$40K	10x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.35	+0.101%	$516.8M	$829.1M	75x	as long as short
MEXC BNB_USDT	+0.0120%	8h	801.80	+0.157%	$83.3M	$13.8M	200x	as long as short
Phemex BNBUSDT	+0.0129%	8h	801.43	+0.111%	$70.0M	$51.7M	50x	as long as short
SoDEX BNB-USD	+0.0139%	1h	801.10	+0.070%	$394K	$1.0M	10x	as long as short
Hibachi BNB/USDT-P	+0.0144%	1h	801.75	+0.151%	$71K	$48K	12x	as long as short
Phoenix BNB	+0.0155%	1h	804.78	+0.530%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0173%	1h	801.39	+0.106%	$162K	$64K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.34	+0.100%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	800.73	+0.024%	$2.6M	$983K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.60	+0.132%	$18.8M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0262%	1h	801.78	+0.155%	$51.9M	$22.2M	10x	as long as short
Bulk BNB-USDshort	+0.0295%	1h	807.66	+0.889%	$652K	$14K	10x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.568%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.64	+0.137%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.90	+0.045%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	802.20	+0.207%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0669%	1h	801.73	+0.149%	$3.0M	$5.5M	40x	as long as short