Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h −0.011%

Price spread now: Deribit against BloFin−0.012%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.012%, 7d avg −0.041%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.029% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.041%. Mind the row above: over the last 7 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	787.52	0.0187	pay 0.0187% / 8h	1h 44m	$17.8M	$2.2M	75x
Short	Deribit BNB_USDC-PERPETUAL	787.42	0.0300	get 0.0037% / 1h	44m 49s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.012%Rate

Funding earned: $23.8
Price spread: −0.012% → −0.041%: $2.86
Slippage, 4 orders: −$12.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$4.88
Costs to cover: 0.315%
Break-even: 8.4 days

Slippage from BloFin: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago	1.52 bp	7.7 bp −$8	8.9 bp −$89	15.7 bp −$1,572	doesn't fit
Sell Deribit live order book, 4 min ago	2.86 bp	7.8 bp −$8	10.9 bp −$109	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 −0.0170% / S +0.0337%	1h	786.89	−0.080%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.54	−0.124%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.82	−0.089%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.89	−0.079%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.231%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	787.19	−0.042%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.79	−0.093%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0067%	8h	787.22	−0.038%	$490.4M	$816.6M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.70	+0.023%	$81.0M	$12.0M	200x	as long as short
dYdX BNB-USD	+0.0069%	1h	786.47	−0.134%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	787.02	−0.063%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	−0.081%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.02	−0.063%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.05	−0.187%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.36	−0.147%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.59	−0.118%	$138.5M	$75.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.130%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.40	−0.142%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.70	−0.104%	$37.1M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.68	−0.107%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.36	−0.147%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.204%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.94	−0.074%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.08	−0.056%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.67	−0.108%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.96	−0.071%	$265K	$471K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.19	−0.042%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.47	−0.006%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	−0.066%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.86	−0.084%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.80	−0.091%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.37	−0.145%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.00	−0.067%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0123%	1h	787.47	−0.006%	$51.5M	$17.6M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0123%	1h	787.37	−0.019%	$2.2M	$6.1M	40x	as long as short
Phoenix BNB	+0.0135%	1h	786.68	−0.107%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0141%	8h	787.00	−0.066%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDTlong	+0.0187%	8h	787.52	long leg	$17.8M	$2.2M	75x
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.99	−0.067%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.04	−0.061%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.74	−0.099%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0300%	1h	787.42	−0.012%	$1.5M	$143K	25x
Reya BNBRUSDPERP	+0.0322%	1h	786.56	−0.122%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	−0.040%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.39	−0.144%	$1.1M	$913K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	786.45	−0.136%	$67K	$39K	12x	as long as short