Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0417%/8h= +45.6% APRpaid last 24h −0.022%

Price spread now: Backpack against BloFin+0.041%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now +0.041%, 7d avg −0.033%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.074% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.033%. Mind the row above: over the last 7 days funding on this pair cost −0.060%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.060% in total (about -3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	805.62	0.0235	pay 0.0235% / 8h	2h 12m	$18.9M	$3.1M	75x
Short	Backpack BNB_USDC_PERP	805.95	0.0651	get 0.0081% / 1h	12m 22s	$3.0M	$5.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now +0.041%Rate

Funding earned: $87.47
Price spread: +0.041% → −0.033%: $7.43
Slippage, 4 orders: −$3.16
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $69.75
Costs to cover: 0.252%
Break-even: 1.4 days

Slippage from BloFin: live order book, 7 min ago; Backpack: 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 BloFin live order book, 7 min ago	0.62 bp	6.6 bp −$7	7.9 bp −$79	14.3 bp −$1,432	doesn't fit
Sell Backpack live order book, 2 min ago	0.06 bp	6.6 bp −$7	9.2 bp −$92	doesn't fit	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 −0.0195% / S +0.0371%	1h	804.70	−0.114%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.20	−0.052%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	807.11	+0.185%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.40	−0.027%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.50	−0.015%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.73	−0.111%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	805.10	−0.065%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0050%	8h	805.71	+0.012%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0054%	8h	804.82	−0.099%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0079%	8h	804.40	−0.151%	$139.6M	$81.7M	75x	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	+0.0088%	1h	805.15	−0.058%	$608K	$883K	50x	as long as short
Lighter BNB	+0.0096%	1h	805.01	−0.076%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0097%	8h	805.34	−0.034%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.55	−0.133%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.04	−0.072%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.60	−0.127%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.30	−0.040%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.55	−0.133%	$36.1M	$59.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.63	−0.123%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.27	−0.168%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.79	+0.146%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.36	+0.092%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.66	−0.119%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.77	−0.106%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.11	−0.063%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.69	+0.008%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.32	−0.037%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.39	−0.029%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.53	−0.012%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.48	−0.141%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.95	−0.084%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0114%	8h	805.70	+0.010%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0114%	8h	805.38	−0.030%	$520.6M	$806.5M	75x	as long as short
Phoenix BNB	+0.0125%	1h	806.89	+0.158%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0131%	8h	805.52	−0.012%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0194%	1h	804.90	−0.089%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.11	−0.064%	$1.1M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0214%	1h	805.43	−0.024%	$51.9M	$21.9M	10x	as long as short
Bulk BNB-USD	+0.0217%	1h	806.94	+0.164%	$652K	$11K	10x	as long as short
BloFin BNB-USDTlong	+0.0235%	8h	805.62	long leg	$18.9M	$3.1M	75x
dYdX BNB-USD	+0.0238%	1h	804.86	−0.094%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.19	−0.053%	$71K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.47	−0.142%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.67	+0.006%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.091%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERPshort	+0.0651%	1h	805.95	+0.041%	$3.0M	$5.5M	40x