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: Bitget against Bulk−0.901%48s7-day average −0.140% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on Bulk Short on Bitget

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)+0.805%+$81 · spread now −0.901%, 7d avg −0.140%

Together, before fees+0.576%+$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bitget is 0.761% cheaper against Bulk than usual: you would sell low and buy high (−$76 if the spread goes back to its 7-day average of −0.140%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	807.66	0.0295	pay 0.0037% / 1h	30m 48s	$652K	$14K	10x
Short	Bitget BNBUSDT	800.38	0.0100	get 0.0100% / 8h	1h 30m	$80.9M	$26.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bulk. 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 BulkbpFee BitgetbpOrdersPrice spread, now −0.901%Rate

Funding earned: −$40.89
Price spread: −0.901% → −0.140%: −$76.13
Slippage, 4 orders: −$1.37
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$137.39
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Bulk: live order book, 53 min ago; Bitget: live order book, 3 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 Bulk live order book, 53 min ago	0.06 bp	3.6 bp −$4	3.7 bp −$37	6.0 bp −$597	13.9 bp −$6,931
Sell Bitget live order book, 3 min ago	0.06 bp	6.1 bp −$6	10.7 bp −$107	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 −0.0201% / S +0.0372%	1h	801.16	−0.805%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.96	−0.706%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.39	−0.281%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.90	−0.713%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.23	−0.672%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.15	−0.806%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0041%	8h	805.56	−0.260%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0058%	8h	801.05	−0.818%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	800.41	−0.898%	$139.5M	$83.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.01	−0.823%	$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	−0.801%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	801.21	−0.799%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.30	−0.787%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.91	−0.836%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.70	−0.862%	$54.9M	$117.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.80	−0.726%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.65	−0.868%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.59	−0.875%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDTshort	+0.0100%	8h	800.38	−0.901%	$80.9M	$26.8M	75x
edgeX BNBUSDC	+0.0100%	4h	802.78	−0.604%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	−0.644%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.32	−0.785%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.85	−0.843%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.16	−0.805%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.87	−0.717%	$11K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.56	−0.755%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.52	−0.760%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.32	−0.909%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.21	−0.799%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.80	−0.726%	$83.3M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.33	−0.784%	$516.8M	$829.1M	75x	as long as short
Phemex BNBUSDT	+0.0129%	8h	801.43	−0.771%	$70.0M	$51.7M	50x	as long as short
SoDEX BNB-USD	+0.0139%	1h	801.10	−0.812%	$394K	$1.0M	10x	as long as short
Hibachi BNB/USDT-P	+0.0144%	1h	801.75	−0.732%	$71K	$48K	12x	as long as short
Phoenix BNB	+0.0155%	1h	804.78	−0.357%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0167%	1h	800.67	−0.866%	$161K	$62K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.34	−0.782%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	800.73	−0.857%	$2.6M	$983K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.60	−0.750%	$18.8M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0264%	1h	801.71	−0.737%	$51.9M	$22.2M	10x	as long as short
Bulk BNB-USDlong	+0.0295%	1h	807.66	long leg	$652K	$14K	10x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.318%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.64	−0.745%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.90	−0.837%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	802.20	−0.676%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0669%	1h	801.73	−0.734%	$3.0M	$5.5M	40x	as long as short