Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h −0.063%

Price spread now: Phemex against 01 Exchange+0.004%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Phemex

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BNBUSD	805.89	0.0344	pay 0.0043% / 1h	49m 08s	$29K	$1K	10x
Short	Phemex BNBUSDT	805.92	0.0134	get 0.0134% / 8h	1h 49m	$70.3M	$51.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$44.08
Price spread: +0.004% → 0.000%: $0.37
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$62.71
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 5 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	0.50 bp	7.3 bp −$7	7.7 bp −$77	13.3 bp −$1,334	doesn't fit

01 Exchange: 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 −0.0195% / S +0.0371%	1h	805.06	−0.103%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.58	−0.038%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.091%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.00	+0.014%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.40	−0.061%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.11	−0.097%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.187%	$4.1M	$5.3M	—	as long as short
Hibachi BNB/USDT-P	+0.0056%	1h	805.18	−0.088%	$71K	$48K	12x	as long as short
BingX BNB-USDC	+0.0057%	8h	805.43	−0.057%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0084%	8h	805.00	−0.110%	$139.5M	$82.1M	75x	as long as short

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	−0.037%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	−0.016%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.80	−0.135%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.33	−0.069%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.20	−0.086%	$55.1M	$116.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.50	−0.048%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.20	−0.086%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.27	−0.077%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.96	−0.115%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	−0.056%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	−0.036%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.00	−0.110%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.18	−0.088%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.36	−0.066%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.79	−0.013%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.32	−0.070%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.97	+0.010%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	805.73	−0.020%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.83	−0.132%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.45	−0.055%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.20	+0.038%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.99	+0.013%	$520.7M	$805.1M	75x	as long as short
Phemex BNBUSDTshort	+0.0134%	8h	805.92	+0.004%	$70.3M	$51.8M	50x
SoDEX BNB-USD	+0.0145%	1h	805.40	−0.061%	$396K	$1.0M	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.39	−0.062%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0155%	1h	806.09	+0.025%	$51.9M	$22.0M	10x	as long as short
dYdX BNB-USD	+0.0185%	1h	805.13	−0.095%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.39	−0.062%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.81	−0.010%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	−0.042%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.72	−0.021%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.099%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.37	−0.065%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.73	−0.144%	$6K	$3K	40x	as long as short
01 Exchange BNBUSDlong	+0.0344%	1h	805.89	long leg	$29K	$1K	10x
Backpack BNB_USDC_PERP	+0.0712%	1h	806.40	+0.063%	$3.0M	$5.5M	40x	as long as short