Funding you earn now, next payment 03:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.027%
Price spread now: Bybit against Deribit−0.010%45s7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$300.297% of the position
Funding, last 7 days−0.215%−$21 on $10k
+Price spread, last 4 days (all we have)+0.138%+$14 · spread now −0.010%, 7d avg −0.074%
=The price spread pays, funding is against you. Bybit is 0.064% dearer against Deribit than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.074%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 26 hours. The two prices were read 45 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 | Deribit BNB_USDC-PERPETUAL | 791.56 | 0.0300 | pay 0.0037% / 1h | 11m 37s | $1.5M | $143K | 25x |
| Short | Bybit BNBUSDT | 791.48 | 0.0100 | get 0.0100% / 8h | 5h 11m | $139.3M | $76.5M | 75x |
Deribit BNB_USDC-PERPETUAL
Bybit BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$42
- Price spread: −0.010% → −0.074%
- $6.42
- Slippage, 4 orders
- −$11.73
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$65.31
- Costs to cover
- 0.297%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 2 min ago; Bybit: 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 Deribit live order book, 2 min ago | 2.72 bp | 8.7 bp −$9 | 13.9 bp −$139 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.63 bp | 7.4 bp −$7 | 10.3 bp −$103 | 23.3 bp −$2,332 | 103.4 bp −$51.7K |
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 −0.0167% / S +0.0335% | 1h | 790.99 | −0.072% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 791.68 | +0.016% | $4K | $239 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 792.14 | +0.074% | $856K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 791.09 | −0.058% | $9.7M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.710% | $19K | $789K | 30x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0048% | 1h | 792.03 | +0.060% | $615K | $1.8M | 50x | as long as short |
| Aster BNBUSDT | +0.0050% | 8h | 791.72 | +0.020% | $6.2M | $18.6M | 200x | as long as short |
| Phemex BNBUSDT | +0.0052% | 8h | 791.59 | +0.004% | $69.3M | $50.5M | 50x | as long as short |
| BingX BNB-USDT | +0.0060% | 8h | 791.53 | −0.003% | — | $34.3M | — | as long as short |
| MEXC BNB_USDT | +0.0072% | 8h | 792.30 | +0.094% | $80.5M | $12.5M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Coinbase International BNB-PERP-INTX
Aster BNBUSDT
Phemex BNBUSDT
BingX BNB-USDT
MEXC BNB_USDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BNBUSDT | +0.0072% | 8h | 792.19 | +0.080% | $494.9M | $791.2M | 75x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0091% | 1h | 790.94 | −0.078% | $2.5M | $1.2M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 791.58 | +0.003% | $2.8M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 791.09 | −0.059% | $266K | $498K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 791.00 | −0.070% | $1.4M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 791.76 | +0.026% | $52.0M | $17.7M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 791.53 | −0.003% | $1.2M | $908K | 20x | as long as short |
| Bybit BNBUSDTshort | +0.0100% | 8h | 791.48 | −0.010% | $139.3M | $76.5M | 75x | |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 791.50 | −0.007% | $53.7M | $111.5M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 791.70 | +0.018% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 791.30 | −0.032% | $35.4M | $57.3M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 791.26 | −0.037% | $27.8M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 791.13 | −0.054% | $77.0M | $29.8M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 791.33 | −0.029% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 791.90 | +0.043% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 791.77 | +0.027% | $4.1M | $74.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 791.88 | +0.041% | $159K | $441K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 790.94 | −0.078% | $134K | $949K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 791.24 | −0.040% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 791.64 | +0.011% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 791.30 | −0.032% | $389K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 791.36 | −0.024% | $8.1M | $9.2M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0102% | 8h | 791.90 | +0.043% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 791.05 | −0.064% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 791.10 | −0.058% | $380K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0107% | 1h | 792.24 | +0.086% | $170K | $35K | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0143% | 8h | 791.96 | +0.051% | $2.9M | $28.0M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0187% | 8h | 791.60 | +0.006% | $83K | $2.8M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0194% | 8h | 791.97 | +0.052% | $18.2M | $2.2M | 75x | as long as short |
| dYdX BNB-USD | +0.0200% | 1h | 791.15 | −0.051% | $160K | $63K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0288% | 1h | 792.14 | +0.074% | $28K | $4K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUALlong | +0.0300% | 1h | 791.56 | long leg | $1.5M | $143K | 25x | |
| Reya BNBRUSDPERP | +0.0327% | 1h | 790.74 | −0.103% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0361% | 1h | 791.89 | +0.043% | $1.1M | $982K | 20x | as long as short |
| Bulk BNB-USD | +0.0366% | 1h | 792.18 | +0.079% | $641K | $9K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0584% | 1h | 791.61 | +0.007% | $68K | $38K | 12x | as long as short |
Binance BNBUSDT
Kraken Futures PF_BNBUSD
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
BloFin BNB-USDT
dYdX BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Bulk BNB-USD
Hibachi BNB/USDT-P