Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0061%/8h= −6.6% APRpaid last 24h −0.011%

Price spread now: Bybit against SoDEX−0.050%7-day average −0.050% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.058%−$6 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.050%, 7d avg −0.050%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	805.40	0.0145	pay 0.0018% / 1h	49m 09s	$396K	$1.0M	10x
Short	Bybit BNBUSDT	805.00	0.0084	get 0.0084% / 8h	1h 49m	$139.5M	$82.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$12.74
Price spread: −0.050% → −0.050%: $0
Slippage, 4 orders: −$5.62
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.37
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago	0.62 bp	5.1 bp −$5	9.0 bp −$90	80.8 bp −$8,084	doesn't fit
Sell Bybit live order book, 5 min ago	0.62 bp	8.4 bp −$8	10.2 bp −$102	24.5 bp −$2,447	134.5 bp −$67.2K

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 −0.0195% / S +0.0371%	1h	805.06	−0.042%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.58	+0.022%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.030%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.00	+0.074%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.40	0.000%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.11	−0.036%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.126%	$4.1M	$5.3M	—	as long as short
Hibachi BNB/USDT-P	+0.0056%	1h	805.18	−0.027%	$71K	$48K	12x	as long as short
BingX BNB-USDC	+0.0057%	8h	805.43	+0.004%	—	$13.3M	—	as long as short
Bybit BNBUSDTshort	+0.0084%	8h	805.00	−0.050%	$139.5M	$82.1M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.59	+0.024%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	+0.045%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.80	−0.074%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.33	−0.009%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.20	−0.025%	$55.1M	$116.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.50	+0.012%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.20	−0.025%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.27	−0.016%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.96	−0.055%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	+0.005%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	+0.025%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.00	−0.050%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.18	−0.027%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.36	−0.005%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.79	+0.048%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.32	−0.010%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.97	+0.071%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	805.73	+0.041%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.83	−0.071%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.45	+0.006%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.20	+0.099%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.99	+0.074%	$520.7M	$805.1M	75x	as long as short
Phemex BNBUSDT	+0.0134%	8h	805.92	+0.065%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USDlong	+0.0145%	1h	805.40	long leg	$396K	$1.0M	10x
Phoenix BNB	+0.0155%	1h	805.39	−0.001%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0155%	1h	806.09	+0.086%	$51.9M	$22.0M	10x	as long as short
dYdX BNB-USD	+0.0185%	1h	805.13	−0.034%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.39	−0.002%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.81	+0.051%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	+0.019%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.72	+0.040%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.038%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.37	−0.004%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.73	−0.084%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.89	+0.061%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0712%	1h	806.40	+0.124%	$3.0M	$5.5M	40x	as long as short