Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0320%/8h= −35.1% APRpaid last 24h −0.081%

Price spread now: Variational Omni against Reya+0.089%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.089% dearer against Reya than usual: you sell high and buy low (spread +0.089% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BNBRUSDPERP	795.80	0.0329	pay 0.0041% / 1h	3m 21s	$6K	$3K	40x
Short	Variational Omni BNB	796.50	0.0009	get 0.0009% / 8h	7h 03m	$4.1M	$5.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.089%Rate

Funding earned: −$67.28
Price spread: +0.089% → 0.000%: $8.87
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$64.41
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 1 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 Reya no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	3.33 bp	doesn't fit	5.7 bp −$57	doesn't fit	doesn't fit

Reya: 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 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 −0.0159% / S +0.0335%	1h	795.94	+0.018%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	796.89	+0.138%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	796.50	+0.088%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0002%	8h	795.70	−0.012%	$35.8M	$57.3M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	797.56	+0.222%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.24	+0.307%	$863K	$3.0M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	797.49	+0.213%	$69.6M	$50.2M	50x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	796.02	+0.029%	$9.7M	—	150x	as long as short
Variational Omni BNBshort	+0.0009%	8h	796.50	+0.089%	$4.1M	$5.1M	—
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.168%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0044%	8h	796.34	+0.068%	$6.1M	$19.6M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	+0.227%	$610K	$1.1M	50x	as long as short
BingX BNB-USDC	+0.0057%	8h	796.41	+0.077%	—	$13.3M	—	as long as short
Binance BNBUSDT	+0.0068%	8h	796.52	+0.091%	$495.8M	$813.2M	75x	as long as short
Bybit BNBUSDT	+0.0068%	8h	795.80	0.000%	$138.5M	$76.4M	75x	as long as short
MEXC BNB_USDT	+0.0069%	8h	797.00	+0.151%	$82.8M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	796.64	+0.106%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	797.27	+0.185%	$171K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	796.20	+0.051%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	796.57	+0.098%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	795.90	+0.013%	$54.0M	$110.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	796.40	+0.076%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	795.91	+0.014%	$27.8M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	795.66	−0.017%	$77.9M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	797.71	+0.240%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.08	+0.287%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	796.05	+0.032%	$111K	$887K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	796.10	+0.038%	$385K	$468K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	796.26	+0.058%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	797.83	+0.256%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	797.30	+0.189%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	796.96	+0.146%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	796.88	+0.136%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	795.72	−0.010%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	796.09	+0.037%	$382K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.363%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	796.11	+0.039%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0164%	8h	797.90	+0.264%	$104K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0188%	1h	796.05	+0.032%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0190%	8h	797.60	+0.227%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	796.79	+0.125%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	797.76	+0.247%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0279%	1h	796.98	+0.149%	$53.0M	$20.1M	10x	as long as short
Reya BNBRUSDPERPlong	+0.0329%	1h	795.80	long leg	$6K	$3K	40x
Hibachi BNB/USDT-P	+0.0400%	1h	797.86	+0.259%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	797.55	+0.220%	$2.7M	$5.7M	40x	as long as short