Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0023%/8h= −2.6% APRpaid last 24h −0.006%

Price spread now: Aster against Injective−2.060%7-day average +0.180% · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)+2.875%+$288 · spread now −2.060%, 7d avg +0.180%

Together, before fees+2.914%+ Points / potential airdropAster: Stage 5 · farm board+$291 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 Aster is 2.240% cheaper against Injective than usual: you would sell low and buy high (−$224 if the spread goes back to its 7-day average of +0.180%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0033	pay 0.0004% / 1h	3m 10s	$19K	$789K	30x
Short	Aster BNBUSDT	788.50	0.0010	get 0.0010% / 8h	7h 03m	$6.0M	$17.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −2.060%Rate

Funding earned: −$4.9
Price spread: −2.060% → +0.180%: −$224.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$236.96
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Aster: live order book, 6 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 6 min ago	0.32 bp	4.3 bp −$4	4.7 bp −$47	18.4 bp −$1,841	doesn't fit

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 45 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 −0.0166% / S +0.0336%	1h	787.87	−2.139%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.61	−2.047%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	787.89	−2.136%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	788.32	−2.083%	$2.9M	$26.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	789.07	−1.990%	$851K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.10	−2.110%	$9.5M	—	150x	as long as short
Aster BNBUSDTshort	+0.0010%	8h	788.50	−2.060%	$6.0M	$17.7M	200x
BingX BNB-USDT	+0.0025%	8h	788.13	−2.107%	—	$22.2M	—	as long as short
MEXC BNB_USDT	+0.0029%	8h	789.80	−1.899%	$83.1M	$12.5M	200x	as long as short
Binance BNBUSDT	+0.0029%	8h	788.43	−2.069%	$484.2M	$798.0M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERPlong	+0.0033%	1h	805.09	long leg	$19K	$789K	30x
Phemex BNBUSDT	+0.0085%	8h	788.58	−2.051%	$68.6M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.10	−2.111%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.10	−2.110%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.70	−2.036%	$51.8M	$17.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.43	−2.069%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.80	−2.148%	$138.9M	$70.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.90	−2.135%	$53.7M	$107.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	−2.073%	$52K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.95	−2.129%	$40.0M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.72	−2.158%	$27.9M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.55	−2.179%	$75.7M	$32.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.37	−2.077%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.82	−2.145%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.37	−2.076%	$4.1M	$77.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.39	−2.074%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.94	−2.130%	$130K	$917K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.03	−2.119%	$265K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.48	−2.063%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.10	−2.110%	$387K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.20	−2.098%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.71	−2.034%	$88K	$167K	50x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	788.70	−2.036%	$161K	$2.6M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	787.70	−2.161%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.90	−2.135%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0117%	8h	788.60	−2.048%	$17.6M	$2.3M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	788.70	−2.036%	$551K	$2.0M	50x	as long as short
Phoenix BNB	+0.0120%	1h	788.52	−2.058%	$158K	$38K	10x	as long as short
Bulk BNB-USD	+0.0150%	1h	788.74	−2.031%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.41	−2.072%	$1.5M	$138K	25x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	788.51	−2.059%	$28K	$3K	10x	as long as short
dYdX BNB-USD	+0.0284%	1h	788.17	−2.102%	$158K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	787.80	−2.147%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	788.38	−2.076%	$1.1M	$890K	20x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	788.33	−2.082%	$67K	$39K	12x	as long as short