Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h −0.039%

Price spread now: Injective against BloFin+2.121%7-day average −0.314% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.335%−$34 on $10k

Price spread, last 4 days (all we have)−2.651%−$265 · spread now +2.121%, 7d avg −0.314%

Together, before fees−2.986%−$299 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.435% dearer against BloFin than usual: you sell high and buy low (spread +2.121% now, against its 7-day average of −0.314%): +$244 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	788.37	0.0164	pay 0.0164% / 8h	3h 21m	$17.7M	$2.2M	75x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	21m 35s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +2.121%Rate

Funding earned: −$27.38
Price spread: +2.121% → −0.314%: $243.53
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $204.13
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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, 2 min ago	0.06 bp	6.1 bp −$6	7.1 bp −$71	11.8 bp −$1,183	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0192% / S +0.0356%	1h	787.11	−0.160%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.06	−0.167%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.00	−0.047%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.90	−0.060%	$126K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.54	+0.022%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.15	−0.154%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0024%	8h	788.32	−0.007%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+2.121%	$19K	$789K	30x
BingX BNB-USDT	+0.0036%	8h	787.92	−0.057%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0043%	8h	788.70	+0.042%	$80.0M	$12.0M	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	+0.0043%	8h	788.42	+0.006%	$491.5M	$800.6M	75x	as long as short
Phemex BNBUSDT	+0.0051%	8h	787.62	−0.095%	$68.9M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.23	−0.145%	$589K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	788.22	−0.019%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0096%	1h	787.16	−0.154%	$159K	$63K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.77	−0.076%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.20	−0.148%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.40	−0.123%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.26	−0.014%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.98	−0.049%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.60	−0.098%	$138.6M	$73.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.50	−0.110%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.90	−0.060%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.60	−0.098%	$35.9M	$57.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.25	−0.142%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.42	−0.121%	$76.2M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.46	−0.115%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.50	−0.110%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.22	−0.020%	$4.1M	$74.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.44	+0.009%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.61	−0.096%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.25	−0.143%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.66	−0.090%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.136%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.21	−0.147%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.10	−0.034%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.33	−0.131%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.16	−0.153%	$378K	$110K	10x	as long as short
BloFin BNB-USDTlong	+0.0164%	8h	788.37	long leg	$17.7M	$2.2M	75x
GRVT BNB_USDT_Perp	+0.0174%	8h	788.49	+0.015%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0193%	1h	788.28	−0.011%	$638K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.41	+0.005%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.63	−0.094%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.34	−0.130%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	787.20	−0.149%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.09	−0.035%	$1.1M	$893K	20x	as long as short