Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0248%/8h= −27.2% APRpaid last 24h −0.070%

Price spread now: Variational Omni against 01 Exchange−0.127%48s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.127% cheaper against 01 Exchange than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 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	01 Exchange BNBUSD	784.50	0.0248	pay 0.0031% / 1h	21m 45s	$28K	$4K	10x
Short	Variational Omni BNB	783.51	0	get 0.0000% / 8h	21m 45s	$4.0M	$4.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.127%Rate

Funding earned: −$52.08
Price spread: −0.127% → 0.000%: −$12.68
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$71.76
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	3.34 bp	doesn't fit	6.6 bp −$66	doesn't fit	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 −0.0168% / S +0.0337%	1h	784.08	−0.054%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.15	−0.045%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.01	−0.063%	$2.5M	$1.2M	50x	as long as short
Variational Omni BNBshort	0.0000%	8h	783.51	−0.127%	$4.0M	$4.7M	—
StandX BNB-USD	0.0000%	1h	784.22	−0.036%	$846K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.04	−0.059%	$9.4M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.625%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	784.54	+0.005%	$6.0M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0040%	8h	783.93	−0.073%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	785.20	+0.089%	$80.7M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0049%	8h	784.61	+0.014%	$487.3M	$819.3M	75x	as long as short
Phemex BNBUSDT	+0.0074%	8h	784.40	−0.013%	$68.5M	$51.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.12	−0.048%	$2.7M	$3.8M	20x	as long as short
dYdX BNB-USD	+0.0099%	1h	783.56	−0.120%	$159K	$62K	10x	as long as short
Phoenix BNB	+0.0100%	1h	784.15	−0.045%	$162K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.80	−0.089%	$1.3M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.64	+0.018%	$51.4M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.27	−0.029%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	783.78	−0.092%	$137.9M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	783.80	−0.089%	$53.3M	$112.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.10	−0.051%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.00	−0.064%	$38.2M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.67	−0.106%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.63	−0.111%	$75.2M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.44	−0.008%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.39	−0.014%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.99	+0.062%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.84	−0.084%	$131K	$944K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.08	−0.054%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.17	−0.043%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.59	+0.011%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.20	−0.038%	$386K	$968K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.34	−0.020%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.60	+0.012%	$78K	$17K	50x	as long as short
Kalshi KXBNBPERP	+0.0101%	8h	784.90	+0.051%	$171K	$2.7M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	783.59	−0.116%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.11	−0.050%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.48	−0.003%	$546K	$1.9M	50x	as long as short
BloFin BNB-USDT	+0.0169%	8h	784.21	−0.037%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0208%	1h	785.53	+0.131%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	784.62	+0.015%	$2.9M	$28.4M	10x	as long as short
01 Exchange BNBUSDlong	+0.0248%	1h	784.50	long leg	$28K	$4K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.51	+0.001%	$1.5M	$141K	25x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	783.65	−0.108%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.28	−0.027%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	783.66	−0.107%	$67K	$39K	12x	as long as short