Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.038%

Price spread now: BloFin against ApeX Omni−0.056%103s7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.333% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now −0.056%, 7d avg +0.022%

Together, before fees+0.231%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.078% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of +0.022%). If the spread goes back, that is −$8 on $10k: about 3.5 days of funding at the current rate (+$2 a day). The two prices were read 103 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	ApeX Omni BNBUSDT	786.94	0.0100	pay 0.0013% / 1h	37m 30s	$158K	$437K	50x
Short	BloFin BNB-USDT	786.50	0.0175	get 0.0175% / 8h	37m 30s	$17.7M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now −0.056%Rate

Funding earned: $15.66
Price spread: −0.056% → +0.022%: −$7.76
Slippage, 4 orders: −$11.29
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.4
Costs to cover: 0.333%
Break-even: 18.4 days

Slippage from ApeX Omni: live order book, 65 min ago; BloFin: 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 ApeX Omni live order book, 65 min ago	5.15 bp	10.3 bp −$10	33.7 bp −$337	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.06 bp	6.1 bp −$6	7.0 bp −$70	10.6 bp −$1,063	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 −0.0168% / S +0.0337%	1h	785.29	−0.210%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.91	−0.131%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	785.37	−0.200%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	786.34	−0.076%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.52	−0.180%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.306%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	785.91	−0.131%	$6.0M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0044%	8h	785.38	−0.198%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0054%	8h	785.88	−0.135%	$488.6M	$822.5M	75x	as long as short
MEXC BNB_USDT	+0.0054%	8h	786.50	−0.056%	$80.9M	$11.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0064%	1h	785.74	−0.152%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0080%	8h	786.13	−0.103%	$68.7M	$51.5M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.57	−0.174%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	786.10	−0.107%	$168K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.35	−0.202%	$1.3M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.96	−0.125%	$51.4M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.63	−0.167%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.40	−0.196%	$138.2M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.20	−0.221%	$53.4M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.70	−0.158%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.50	−0.183%	$38.3M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.16	−0.226%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.23	−0.217%	$76.1M	$31.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.90	−0.132%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.30	−0.082%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.25	−0.087%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	786.94	long leg	$158K	$437K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	785.24	−0.216%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.57	−0.174%	$264K	$422K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.74	−0.152%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.07	−0.111%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	−0.158%	$386K	$972K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.00	−0.119%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.90	−0.132%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.24	−0.216%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.58	−0.173%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	786.02	−0.117%	$556K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	786.00	−0.119%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDTshort	+0.0175%	8h	786.50	−0.056%	$17.7M	$2.2M	75x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.01	−0.119%	$1.5M	$145K	25x	as long as short
Bulk BNB-USD	+0.0201%	1h	786.50	−0.056%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0224%	8h	786.60	−0.043%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	785.74	−0.152%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	785.05	−0.241%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.79	−0.146%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	785.82	−0.142%	$67K	$39K	12x	as long as short