Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h −0.002%

Price spread now: Derive against Aster−0.082%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Derive

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Derive is 0.082% cheaper against Aster than usual: you would sell low and buy high (spread −0.082% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 3.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	787.43	0.0027	pay 0.0027% / 8h	2h 55m	$6.1M	$19.1M	200x
Short	Derive BNB-PERP	786.78	0.0100	get 0.0013% / 1h	55m 16s	$31K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.082%Rate

Funding earned: $15.43
Price spread: −0.082% → 0.000%: −$8.2
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$6.77
Costs to cover: 0.140%
Break-even: 10.1 days

Slippage unknown: Aster: live order book, 4 min ago; Derive: no order-book sample. 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 Aster live order book, 4 min ago	0.44 bp	4.4 bp −$4	5.4 bp −$54	19.8 bp −$1,975	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 −0.0192% / S +0.0356%	1h	786.36	−0.136%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.10	−0.042%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.50	+0.009%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.39	−0.131%	$9.5M	—	150x	as long as short
Aster BNBUSDTlong	+0.0027%	8h	787.43	long leg	$6.1M	$19.1M	200x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.243%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0034%	8h	786.61	−0.104%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	787.40	−0.003%	$79.8M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0049%	8h	787.44	+0.001%	$490.2M	$805.3M	75x	as long as short
Phemex BNBUSDT	+0.0055%	8h	787.08	−0.044%	$68.8M	$50.7M	50x	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	786.72	−0.090%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.21	−0.028%	$579K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	786.98	−0.057%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	786.91	−0.066%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.66	−0.097%	$265K	$491K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.25	−0.150%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.98	−0.057%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.86	−0.072%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.54	−0.113%	$138.2M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.118%	$53.4M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	−0.092%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.124%	$36.1M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.07	−0.172%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.37	−0.134%	$76.1M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.36	−0.009%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.61	−0.104%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.21	−0.027%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.54	+0.014%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.26	−0.148%	$131K	$956K	10x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	786.78	−0.082%	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	787.58	+0.019%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.60	−0.106%	$8.1M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.88	−0.070%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.43	−0.126%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.78	−0.082%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0110%	8h	787.10	−0.042%	$122K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0113%	1h	786.94	−0.062%	$159K	$61K	10x	as long as short
SoDEX BNB-USD	+0.0140%	1h	786.80	−0.080%	$387K	$999K	10x	as long as short
BloFin BNB-USDT	+0.0169%	8h	787.06	−0.047%	$17.8M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0192%	8h	787.74	+0.039%	$2.9M	$29.1M	10x	as long as short
Bulk BNB-USD	+0.0223%	1h	788.23	+0.102%	$639K	$10K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.15	−0.035%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	787.14	−0.037%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	786.15	−0.162%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.85	−0.073%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0440%	1h	786.80	−0.079%	$67K	$39K	12x	as long as short