Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.043%

Price spread now: OKX against Bulk−0.068%7-day average −0.122% · 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−$14as in the Price arb table

costs, in and out, $10k−$200.195% of the position

Long on Bulk Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.246%−$25 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.068%, 7d avg −0.122%

Together, before fees−0.279%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.054% dearer against Bulk than usual: you sell high and buy low (spread −0.068% now, against its 7-day average of −0.122%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	784.93	0.0231	pay 0.0029% / 1h	15m 05s	$636K	$831	10x
Short	OKX BNB-USDT-SWAP	784.40	0.0100	get 0.0100% / 8h	15m 05s	$53.3M	$111.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$27.59
Price spread: −0.068% → −0.122%: $5.43
Slippage, 4 orders: −$2.53
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$41.68
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from Bulk: live order book, 24 min ago; OKX: 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 Bulk live order book, 24 min ago	0.06 bp	3.6 bp −$4	3.9 bp −$39	7.9 bp −$790	16.5 bp −$8,229
Sell OKX live order book, 4 min ago	0.64 bp	6.8 bp −$7	8.0 bp −$80	20.7 bp −$2,068	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 −0.0168% / S +0.0337%	1h	784.52	−0.053%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.94	+0.001%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.49	−0.057%	$2.5M	$1.2M	50x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	785.00	+0.009%	$170K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.56	+0.080%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.53	−0.051%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	785.18	+0.032%	$6.0M	$18.7M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.568%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0038%	8h	784.64	−0.037%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	785.70	+0.098%	$80.8M	$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	+0.0048%	8h	785.19	+0.033%	$488.0M	$814.5M	75x	as long as short
Phemex BNBUSDT	+0.0076%	8h	785.15	+0.028%	$68.5M	$51.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.65	−0.036%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	785.13	+0.025%	$159K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	−0.061%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.14	+0.027%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.87	−0.008%	$1.2M	$938K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.50	−0.055%	$138.1M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	784.40	−0.068%	$53.3M	$111.7M	50x
Arcus BNB-USD	+0.0100%	1h	784.80	−0.017%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.65	−0.036%	$38.3M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.23	−0.089%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.42	−0.065%	$75.3M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.01	+0.010%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	−0.064%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.96	+0.004%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.42	+0.062%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.42	−0.065%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.55	−0.048%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.56	−0.048%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.15	+0.028%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.70	−0.029%	$386K	$964K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.05	+0.015%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.18	+0.032%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.17	−0.097%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.61	−0.040%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.48	−0.057%	$546K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0113%	1h	784.27	−0.085%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0168%	8h	785.06	+0.017%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.98	+0.007%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	785.43	+0.064%	$2.9M	$28.3M	10x	as long as short
Bulk BNB-USDlong	+0.0231%	1h	784.93	long leg	$636K	$831	10x
01 Exchange BNBUSD	+0.0248%	1h	785.34	+0.052%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.22	−0.090%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.92	−0.001%	$1.1M	$904K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	784.96	+0.004%	$67K	$39K	12x	as long as short