Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.068%

Price spread now: Orderly against Reya+0.018%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BNBRUSDPERP	787.31	0.0322	pay 0.0040% / 1h	18m 34s	$6K	$3K	40x
Short	Orderly PERP_BNB_USDC	787.45	0.0100	get 0.0100% / 8h	1h 18m	$265K	$470K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Reya. 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 ReyabpFee OrderlybpOrdersPrice spread, now +0.018%Rate

Funding earned: −$46.54
Price spread: +0.018% → 0.000%: $1.83
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$56.71
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Orderly: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and Orderly: 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 −0.0170% / S +0.0337%	1h	787.41	+0.013%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.88	+0.073%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.46	+0.147%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.72	+0.052%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.259%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0051%	8h	788.07	+0.097%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.66	+0.045%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0062%	8h	788.60	+0.164%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	788.01	+0.089%	$490.8M	$819.8M	75x	as long as short
dYdX BNB-USD	+0.0065%	1h	787.95	+0.082%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	788.05	+0.094%	$68.9M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.001%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.69	+0.049%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.55	+0.031%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.17	+0.110%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.63	+0.041%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.40	+0.012%	$138.6M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.40	+0.012%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.70	+0.050%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.50	+0.025%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.25	−0.007%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.32	+0.002%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.86	+0.070%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	+0.013%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.00	+0.088%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	+0.112%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.52	+0.027%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	787.45	+0.018%	$265K	$470K	50x
SunX BNB-USDT	+0.0100%	8h	787.99	+0.086%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	+0.037%	$387K	$979K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.89	+0.074%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.10	+0.100%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.16	−0.019%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.45	+0.018%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0126%	8h	788.00	+0.088%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	+0.050%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0183%	8h	788.12	+0.103%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.85	+0.069%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.37	+0.008%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.19	+0.113%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.03	+0.092%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.129%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERPlong	+0.0322%	1h	787.31	long leg	$6K	$3K	40x
RISEx BNB/USDC	+0.0438%	1h	787.72	+0.053%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	787.94	+0.081%	$67K	$39K	12x	as long as short