Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.004%

Price spread now: Bybit against Extended−0.010%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.010%, 7d avg +0.023%

Together, before fees−0.107%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.032% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BNB-USD	800.79	0.0104	pay 0.0013% / 1h	18m 52s	$1.8M	$6.1M	50x
Short	Bybit BNBUSDT	800.71	0.0074	get 0.0074% / 8h	1h 18m	$139.4M	$81.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$6.39
Price spread: −0.010% → +0.023%: −$3.24
Slippage, 4 orders: −$3.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.54
Costs to cover: 0.199%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Bybit: live order book, 5 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 Extended live order book, 5 min ago	0.06 bp	3.8 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.62 bp	6.3 bp −$6	8.8 bp −$88	24.4 bp −$2,438	128.6 bp −$64.3K

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	801.49	+0.088%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.91	+0.140%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.84	+0.256%	$3.0M	$29.6M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.70	+0.114%	$158K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.75	+0.245%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.45	+0.083%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0038%	8h	801.85	+0.133%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0062%	8h	801.24	+0.057%	—	$35.0M	—	as long as short
Bybit BNBUSDTshort	+0.0074%	8h	800.71	−0.010%	$139.4M	$81.6M	75x
Lighter BNB	+0.0096%	1h	801.60	+0.101%	$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	801.17	+0.048%	$610K	$998K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.24	+0.057%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.50	+0.089%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.80	+0.002%	$54.7M	$115.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.70	+0.114%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.95	+0.020%	$35.8M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.05	+0.033%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.88	+0.012%	$81.0M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.01	+0.278%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.69	+0.238%	$162K	$443K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.29	+0.063%	$121K	$878K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.28	+0.062%	$387K	$568K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.48	+0.086%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.80	+0.127%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	801.40	+0.077%	$394K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.38	+0.074%	$8.2M	$7.9M	75x	as long as short
Aster BNBUSDT	+0.0100%	8h	801.79	+0.125%	$6.3M	$19.0M	200x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.93	+0.143%	$78K	$19K	50x	as long as short
Extended BNB-USDlong	+0.0104%	1h	800.79	long leg	$1.8M	$6.1M	50x
Aevo BNB-PERP	+0.0104%	1h	801.51	+0.091%	$385K	$40K	10x	as long as short
Binance BNBUSDT	+0.0118%	8h	801.80	+0.127%	$503.8M	$821.6M	75x	as long as short
MEXC BNB_USDT	+0.0119%	8h	802.20	+0.177%	$83.4M	$13.8M	200x	as long as short
Phemex BNBUSDT	+0.0121%	8h	801.80	+0.127%	$70.1M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	802.83	+0.255%	$173K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	802.63	+0.230%	$71K	$48K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.76	+0.121%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.20	+0.052%	$2.6M	$977K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	802.00	+0.152%	$18.3M	$2.5M	75x	as long as short
dYdX BNB-USD	+0.0276%	1h	801.29	+0.063%	$162K	$62K	10x	as long as short
Hyperliquid BNB	+0.0310%	1h	802.15	+0.170%	$51.9M	$21.9M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.537%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0314%	1h	802.70	+0.239%	$652K	$21K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.52	+0.092%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	802.02	+0.154%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	801.12	+0.042%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0603%	1h	802.05	+0.158%	$2.7M	$5.7M	40x	as long as short