Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.005%

Price spread now: Aevo against Phemex−0.065%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$750.748% of the position

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.065%, 7d avg −0.059%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.059%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	787.07	0.0075	pay 0.0075% / 8h	1h 48m	$68.9M	$51.1M	50x
Short	Aevo BNB-PERP	786.56	0.0104	get 0.0013% / 1h	48m 07s	$378K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.065%Rate

Funding earned: $6.13
Price spread: −0.065% → −0.059%: −$0.62
Slippage, 4 orders: −$46.83
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$69.32
Costs to cover: 0.748%
Break-even: 86.1 days

Slippage from Phemex: live order book, 6 min ago; Aevo: live order book, 61 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 Phemex live order book, 6 min ago	0.06 bp	6.7 bp −$7	8.1 bp −$81	12.7 bp −$1,273	doesn't fit
Sell Aevo live order book, 61 min ago	8.25 bp	32.1 bp −$32	37.8 bp −$378	58.2 bp −$5,821	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 −0.0170% / S +0.0337%	1h	786.42	−0.083%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.06	−0.001%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.44	+0.047%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.46	−0.078%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.290%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	787.16	+0.011%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.66	−0.052%	—	$13.4M	—	as long as short
dYdX BNB-USD	+0.0060%	1h	787.12	+0.007%	$159K	$62K	10x	as long as short
Binance BNBUSDT	+0.0067%	8h	787.06	−0.001%	$490.3M	$816.7M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.50	+0.055%	$81.0M	$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
Phemex BNBUSDTlong	+0.0075%	8h	787.07	long leg	$68.9M	$51.1M	50x
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.56	−0.065%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.68	−0.049%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.54	−0.067%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	−0.053%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.91	−0.020%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	−0.072%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.085%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−0.034%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−0.060%	$37.1M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.25	−0.104%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.41	−0.084%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.52	−0.070%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.76	−0.040%	$4.1M	$75.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.43	−0.081%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.45	−0.079%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.73	−0.044%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.05	−0.003%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.60	−0.060%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.78	−0.036%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.06	−0.001%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−0.106%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERPshort	+0.0104%	1h	786.56	−0.065%	$378K	$110K	10x
Hyperliquid BNB	+0.0129%	1h	787.20	+0.017%	$51.5M	$17.6M	10x	as long as short
Phoenix BNB	+0.0135%	1h	787.01	−0.008%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	787.20	+0.017%	$170K	$2.7M	4.8x	as long as short
Backpack BNB_USDC_PERP	+0.0157%	1h	786.95	−0.015%	$2.2M	$6.1M	40x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.17	+0.013%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.95	−0.016%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.37	−0.089%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.27	+0.025%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	787.05	−0.003%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.31	−0.097%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.017%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.87	−0.026%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	787.52	+0.057%	$67K	$39K	12x	as long as short