Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: OKX against SoDEX−0.051%7-day average −0.043% · 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−$24as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on SoDEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.051%, 7d avg −0.043%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	785.10	0.0104	pay 0.0013% / 1h	24m 09s	$386K	$993K	10x
Short	OKX BNB-USDT-SWAP	784.70	0.0100	get 0.0100% / 8h	2h 24m	$53.3M	$112.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$0.76
Price spread: −0.051% → −0.043%: −$0.82
Slippage, 4 orders: −$5.09
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.67
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from SoDEX: live order book, 35 min ago; OKX: 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, 35 min ago	0.64 bp	5.3 bp −$5	9.0 bp −$90	85.3 bp −$8,533	doesn't fit
Sell OKX live order book, 5 min ago	0.64 bp	7.5 bp −$8	9.5 bp −$95	19.8 bp −$1,980	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 −0.0192% / S +0.0356%	1h	784.62	−0.061%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.06	−0.005%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.75	+0.083%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.79	−0.040%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0032%	8h	785.50	+0.051%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.546%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0042%	8h	784.77	−0.042%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0050%	8h	785.37	+0.034%	$68.7M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0056%	8h	785.30	+0.025%	$80.3M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0056%	8h	785.41	+0.039%	$489.4M	$811.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.93	−0.022%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.62	−0.061%	$567K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.10	0.000%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.90	−0.025%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	−0.083%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.29	+0.024%	$51.4M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.87	−0.029%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.80	−0.038%	$137.8M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	784.70	−0.051%	$53.3M	$112.4M	50x
Arcus BNB-USD	+0.0100%	1h	784.90	−0.025%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.75	−0.045%	$36.5M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.70	−0.051%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.65	−0.057%	$75.9M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.15	+0.006%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	783.72	−0.176%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.31	−0.101%	$4.1M	$75.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.92	−0.023%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.72	−0.048%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.04	−0.008%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.27	+0.022%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.93	−0.022%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.11	+0.002%	$76K	$17K	50x	as long as short
SoDEX BNB-USDlong	+0.0104%	1h	785.10	long leg	$386K	$993K	10x
Extended BNB-USD	+0.0104%	1h	784.73	−0.047%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.01	−0.012%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	784.35	−0.096%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0141%	8h	785.00	−0.013%	$161K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0168%	1h	784.36	−0.094%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0176%	8h	785.45	+0.045%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0208%	8h	785.52	+0.053%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	785.53	+0.055%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.075%	$637K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.60	−0.063%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	785.40	+0.039%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.05	−0.006%	$1.1M	$905K	20x	as long as short
Hibachi BNB/USDT-P	+0.0512%	1h	784.74	−0.046%	$67K	$39K	12x	as long as short