Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Arcus against Variational Omni−0.051%50s7-day average +0.121% · you buy dearer than you sell

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.298%+$30 · spread now −0.051%, 7d avg +0.121%

Together, before fees+0.420%+ Points / potential airdropVariational Omni: Active · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.173% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.121%). If the spread goes back, that is −$17 on $10k: about 11 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.122% in total) that is about 4.6 days. The two prices were read 50 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	Variational Omni BNB	805.71	0.0050	pay 0.0050% / 8h	2h 10m	$4.1M	$5.4M	—
Short	Arcus BNB-USD	805.30	0.0100	get 0.0013% / 1h	10m 40s	$53K	$170K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Variational Omni. 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 Variational OmnibpFee ArcusbpOrdersPrice spread, now −0.051%Rate

Funding earned: $10.58
Price spread: −0.051% → +0.121%: −$17.27
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$11.2
Costs to cover: 0.045%
Break-even: 14.4 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Arcus: live order book, 12 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 Variational Omni RFQ quote, 3 min ago	3.33 bp	doesn't fit	7.4 bp −$74	doesn't fit	doesn't fit
Sell Arcus live order book, 12 min ago	6.20 bp	11.2 bp −$11	23.2 bp −$232	doesn't fit	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 −0.0195% / S +0.0371%	1h	804.89	−0.103%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.14	−0.071%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.48	−0.029%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.40	−0.039%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.50	−0.027%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.94	−0.096%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	805.12	−0.073%	$2.5M	$919K	50x	as long as short
Variational Omni BNBlong	+0.0050%	8h	805.71	long leg	$4.1M	$5.4M	—
BingX BNB-USDC	+0.0054%	8h	805.21	−0.063%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0080%	8h	804.90	−0.101%	$139.7M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	−0.070%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	805.47	−0.030%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	805.90	+0.024%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.45	−0.157%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.50	−0.027%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.00	−0.089%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USDshort	+0.0100%	1h	805.30	−0.051%	$53K	$170K	10x
Gate BNB_USDT	+0.0100%	8h	805.15	−0.070%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.21	−0.063%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.96	−0.094%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.79	+0.134%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.36	+0.080%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.86	−0.106%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.94	−0.096%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.99	−0.090%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.43	−0.035%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.52	−0.024%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.95	−0.095%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.95	+0.030%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.90	−0.101%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.05	−0.082%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0114%	8h	806.00	+0.036%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	805.92	+0.026%	$520.9M	$806.1M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	−0.012%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0134%	8h	805.65	−0.008%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0194%	1h	805.00	−0.089%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.05	−0.082%	$1.1M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0212%	1h	805.74	+0.003%	$51.9M	$22.0M	10x	as long as short
BloFin BNB-USDT	+0.0234%	8h	805.45	−0.033%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0245%	1h	804.86	−0.106%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.00	−0.088%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	−0.043%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.69	−0.127%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.77	+0.007%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.102%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0651%	1h	806.00	+0.036%	$3.0M	$5.5M	40x	as long as short