Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.005%

Price spread now: Phemex against Aevo+0.047%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.047%, 7d avg +0.059%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.059%, 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	Aevo BNB-PERP	784.08	0.0104	pay 0.0013% / 1h	27m 51s	$377K	$110K	10x
Short	Phemex BNBUSDT	784.45	0.0052	get 0.0052% / 8h	2h 27m	$68.6M	$50.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$10.89
Price spread: +0.047% → +0.059%: −$1.21
Slippage, 4 orders: −$46.92
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$87.03
Costs to cover: 0.749%
Break-even: never at this rate

Slippage from Aevo: live order book, 21 min ago; Phemex: live order book, 6 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 Aevo live order book, 21 min ago	8.25 bp	29.8 bp −$30	34.7 bp −$347	56.6 bp −$5,663	doesn't fit
Sell Phemex live order book, 6 min ago	0.19 bp	6.5 bp −$6	6.7 bp −$67	11.5 bp −$1,151	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	783.65	−0.055%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.00	+0.117%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.52	+0.183%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	783.79	−0.038%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0031%	8h	784.50	+0.053%	$6.0M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.679%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0042%	8h	784.07	−0.002%	—	$22.1M	—	as long as short
Phemex BNBUSDTshort	+0.0052%	8h	784.45	+0.047%	$68.6M	$50.5M	50x
MEXC BNB_USDT	+0.0053%	8h	784.80	+0.092%	$79.5M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0054%	8h	784.54	+0.059%	$488.7M	$809.6M	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	783.73	−0.045%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	783.79	−0.037%	$567K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.05	−0.004%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	783.94	−0.018%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.80	−0.036%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.47	+0.049%	$51.3M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.32	+0.030%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	783.90	−0.023%	$137.7M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	783.70	−0.049%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.30	+0.028%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	783.85	−0.030%	$36.4M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.79	−0.037%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.56	−0.067%	$75.9M	$30.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.46	+0.048%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.13	+0.006%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.38	+0.165%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.10	+0.130%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.80	−0.036%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	783.98	−0.013%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.57	+0.062%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.00	−0.011%	$385K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	783.94	−0.018%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.39	+0.039%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.58	−0.064%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERPlong	+0.0104%	1h	784.08	long leg	$377K	$110K	10x
Phoenix BNB	+0.0107%	1h	785.13	+0.134%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0146%	8h	784.40	+0.041%	$154K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0162%	1h	784.37	+0.036%	$159K	$61K	10x	as long as short
BloFin BNB-USDT	+0.0174%	8h	785.33	+0.159%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0206%	8h	784.96	+0.112%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	784.74	+0.084%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.205%	$637K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.32	+0.031%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	783.66	−0.054%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.37	+0.036%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	784.92	+0.107%	$67K	$39K	12x	as long as short