Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.034%

Price spread now: BloFin against SoDEX+0.095%56s7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.227% of the position

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.081%+$8 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.095%, 7d avg +0.066%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.029% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.066%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	786.40	0.0100	pay 0.0013% / 1h	41m 45s	$387K	$984K	10x
Short	BloFin BNB-USDT	787.15	0.0187	get 0.0187% / 8h	1h 41m	$17.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now +0.095%Rate

Funding earned: $18.21
Price spread: +0.095% → +0.066%: $2.95
Slippage, 4 orders: −$2.73
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$1.58
Costs to cover: 0.227%
Break-even: 7.6 days

Slippage from SoDEX: live order book, 12 min ago; BloFin: live order book, 2 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 SoDEX live order book, 12 min ago	0.63 bp	4.6 bp −$5	8.6 bp −$86	75.0 bp −$7,497	doesn't fit
Sell BloFin live order book, 2 min ago	0.06 bp	6.5 bp −$6	8.1 bp −$81	13.0 bp −$1,296	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	786.32	−0.011%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.70	+0.038%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.123%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.31	−0.011%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.377%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0049%	8h	786.98	+0.074%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.46	+0.008%	—	$13.4M	—	as long as short
dYdX BNB-USD	+0.0064%	1h	786.47	+0.008%	$159K	$62K	10x	as long as short
MEXC BNB_USDT	+0.0066%	8h	787.50	+0.140%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	786.93	+0.067%	$490.2M	$816.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0078%	8h	786.89	+0.062%	$68.8M	$50.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.061%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.54	+0.017%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.20	−0.025%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.50	+0.013%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	0.000%	$138.4M	$75.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	0.000%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	+0.013%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.35	−0.006%	$37.2M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.10	−0.038%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.23	−0.022%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.062%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.84	+0.056%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.27	−0.017%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.22	−0.023%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.36	−0.005%	$264K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.58	+0.022%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.07	+0.085%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USDlong	+0.0100%	1h	786.40	long leg	$387K	$984K	10x
HTX BNB-USDT	+0.0100%	8h	786.38	−0.003%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.69	+0.036%	$76K	$17K	50x	as long as short
Backpack BNB_USDC_PERP	+0.0102%	1h	786.72	+0.041%	$2.2M	$6.1M	40x	as long as short
Extended BNB-USD	+0.0104%	1h	786.03	−0.047%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.40	+0.001%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0111%	1h	786.98	+0.074%	$51.5M	$17.7M	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.68	+0.036%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0140%	8h	786.90	+0.064%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDTshort	+0.0187%	8h	787.15	+0.095%	$17.8M	$2.2M	75x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.80	+0.050%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.25	−0.019%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.04	+0.081%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	786.83	+0.055%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.087%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.06	−0.044%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.56	+0.021%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	787.00	+0.076%	$67K	$39K	12x	as long as short