Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0207%/8h= +22.7% APRpaid last 24h +0.042%

Price spread now: Bulk against Aster−0.097%54s7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$160.161% of the position

Long on Aster Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.262%+$26 on $10k

Price spread, last 4 days (all we have)+0.085%+$9 · spread now −0.097%, 7d avg +0.017%

Together, before fees+0.347%+ Points / potential airdropAster: Stage 5 · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.113% cheaper against Aster than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of +0.017%). If the spread goes back, that is −$11 on $10k: about 44 hours of funding at the current rate (+$6 a day). The two prices were read 54 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	Aster BNBUSDT	785.90	0.0030	pay 0.0030% / 8h	7h 58m	$6.0M	$18.6M	200x
Short	Bulk BNB-USD	785.14	0.0237	get 0.0030% / 1h	58m 47s	$636K	$831	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Aster. 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 AsterbpFee BulkbpOrdersPrice spread, now −0.097%Rate

Funding earned: $43.54
Price spread: −0.097% → +0.017%: −$11.32
Slippage, 4 orders: −$1.15
Fee Aster: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $16.07
Costs to cover: 0.161%
Break-even: 4.4 days

Slippage from Aster: live order book, 5 min ago; Bulk: live order book, 40 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 Aster live order book, 5 min ago	0.51 bp	4.5 bp −$5	4.6 bp −$46	16.6 bp −$1,659	doesn't fit
Sell Bulk live order book, 40 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.7 bp −$469	11.5 bp −$5,733

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	784.86	−0.133%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.32	−0.074%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.05	−0.108%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	785.56	−0.043%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.93	−0.123%	$9.5M	—	150x	as long as short
dYdX BNB-USD	+0.0024%	1h	784.99	−0.116%	$159K	$62K	10x	as long as short
Aster BNBUSDTlong	+0.0030%	8h	785.90	long leg	$6.0M	$18.6M	200x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.442%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0038%	8h	785.34	−0.071%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0045%	8h	786.80	+0.115%	$81.2M	$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	+0.0046%	8h	785.91	+0.001%	$488.9M	$812.7M	75x	as long as short
Phemex BNBUSDT	+0.0083%	8h	785.56	−0.043%	$68.5M	$51.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.51	−0.050%	$2.7M	$3.6M	20x	as long as short
Phoenix BNB	+0.0100%	1h	784.80	−0.140%	$158K	$26K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.90	−0.127%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.00	+0.013%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.59	−0.039%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.30	−0.076%	$138.2M	$73.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.20	−0.089%	$53.4M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.20	−0.089%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.35	−0.070%	$38.7M	$55.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.04	−0.109%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.07	−0.106%	$75.3M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.57	−0.042%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.64	−0.160%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.86	−0.132%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.47	−0.182%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.77	−0.144%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.95	−0.121%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.98	−0.117%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.39	−0.065%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.10	−0.102%	$386K	$955K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.25	−0.083%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.01	+0.015%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.96	−0.120%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.86	−0.132%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0105%	8h	785.40	−0.064%	$170K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	784.97	−0.118%	$548K	$1.9M	50x	as long as short
BloFin BNB-USDT	+0.0166%	8h	785.51	−0.050%	$17.7M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	785.49	−0.052%	$28K	$3K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0215%	8h	785.49	−0.052%	$2.9M	$27.5M	10x	as long as short
Bulk BNB-USDshort	+0.0237%	1h	785.14	−0.097%	$636K	$831	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	785.35	−0.070%	$1.5M	$141K	25x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.73	−0.149%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	785.32	−0.074%	$1.1M	$921K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	784.85	−0.134%	$67K	$39K	12x	as long as short