Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h −0.003%

Price spread now: ApeX Omni against Binance−0.047%79s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as 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−$310.314% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.047%, 7d avg −0.015%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.032% cheaper against Binance than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of −0.015%). If the spread goes back, that is −$3 on $10k: about 2.3 days of funding at the current rate (+$1 a day). The two prices were read 79 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	Binance BNBUSDT	785.47	0.0053	pay 0.0053% / 8h	2h 30m	$488.9M	$809.4M	75x
Short	ApeX Omni BNBUSDT	785.10	0.0100	get 0.0013% / 1h	30m 14s	$158K	$439K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $9.94
Price spread: −0.047% → −0.015%: −$3.24
Slippage, 4 orders: −$11.42
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$24.72
Costs to cover: 0.314%
Break-even: 24.4 days

Slippage from Binance: live order book, 14 min ago; ApeX Omni: live order book, 17 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 Binance live order book, 14 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	17.9 bp −$1,792	doesn't fit
Sell ApeX Omni live order book, 17 min ago	5.15 bp	10.4 bp −$10	31.9 bp −$319	doesn't fit	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	784.59	−0.112%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.20	−0.034%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.03	−0.056%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.68	−0.101%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	785.33	−0.018%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.498%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0041%	8h	784.56	−0.116%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0049%	8h	785.30	−0.022%	$68.7M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	785.70	+0.029%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDTlong	+0.0053%	8h	785.47	long leg	$488.9M	$809.4M	75x

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	784.70	−0.098%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.32	−0.146%	$577K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.94	−0.067%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.73	−0.094%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.55	−0.117%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.24	−0.029%	$51.5M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.89	−0.074%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.70	−0.098%	$137.9M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	−0.111%	$53.3M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.80	−0.085%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.70	−0.098%	$36.3M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.48	−0.126%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.43	−0.132%	$76.0M	$30.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.80	−0.085%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.13	−0.171%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.38	−0.012%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDTshort	+0.0100%	1h	785.10	−0.047%	$158K	$439K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	784.63	−0.107%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.87	−0.077%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.53	+0.008%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.80	−0.085%	$386K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.36	−0.141%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.97	−0.063%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.44	−0.131%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.97	−0.064%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.73	+0.033%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0127%	1h	784.34	−0.143%	$159K	$61K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	785.00	−0.060%	$147K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	784.93	−0.069%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	785.51	+0.005%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.44	−0.004%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.028%	$637K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.56	−0.116%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	785.19	−0.035%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.99	−0.061%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	785.21	−0.033%	$67K	$39K	12x	as long as short