Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h +0.077%

Price spread now: dYdX against Binance−0.103%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on Binance Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.478%+$48 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.103%, 7d avg −0.081%

Together, before fees+0.483%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.022% cheaper against Binance than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.081%). If the spread goes back, that is −$2 on $10k: about 30 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.478% in total) that is about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	785.08	0.0049	pay 0.0049% / 8h	18m 09s	$488.0M	$819.6M	75x
Short	dYdX BNB-USD	784.27	0.0107	get 0.0013% / 1h	18m 09s	$159K	$62K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.103%Rate

Funding earned: $12.18
Price spread: −0.103% → −0.081%: −$2.17
Slippage, 4 orders: −$23.66
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$33.65
Costs to cover: 0.437%
Break-even: 26.3 days

Slippage from Binance: live order book, 11 min ago; dYdX: live order book, 21 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, 11 min ago	0.06 bp	5.1 bp −$5	5.8 bp −$58	15.4 bp −$1,538	doesn't fit
Sell dYdX live order book, 21 min ago	10.36 bp	17.5 bp −$17	52.9 bp −$529	64.1 bp −$6,408	267.0 bp −$133.5K

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	784.45	−0.080%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.01	−0.008%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.50	−0.073%	$2.5M	$1.2M	50x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	784.80	−0.035%	$171K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.55	+0.060%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.52	−0.071%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.549%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	785.10	+0.003%	$6.0M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0039%	8h	784.38	−0.089%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	785.70	+0.080%	$80.8M	$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 BNBUSDTlong	+0.0049%	8h	785.08	long leg	$488.0M	$819.6M	75x
Phemex BNBUSDT	+0.0075%	8h	785.08	+0.001%	$68.5M	$51.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.66	−0.053%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	784.53	−0.069%	$160K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	−0.080%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.02	−0.007%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.89	−0.024%	$1.2M	$938K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.30	−0.099%	$138.0M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.30	−0.099%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.80	−0.035%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.45	−0.080%	$38.2M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.24	−0.106%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.19	−0.113%	$75.3M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.87	−0.026%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	783.41	−0.212%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	783.84	−0.157%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.61	−0.059%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.34	−0.094%	$131K	$944K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.51	−0.072%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.56	−0.066%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.06	−0.002%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.60	−0.061%	$386K	$965K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.63	−0.057%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.27	+0.025%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.10	−0.124%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.54	−0.068%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.48	−0.076%	$546K	$1.9M	50x	as long as short
dYdX BNB-USDshort	+0.0107%	1h	784.27	−0.103%	$159K	$62K	10x
BloFin BNB-USDT	+0.0169%	8h	785.29	+0.027%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.93	−0.019%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	784.43	−0.082%	$2.9M	$28.3M	10x	as long as short
Bulk BNB-USD	+0.0231%	1h	784.93	−0.018%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.18	+0.013%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.16	−0.117%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.94	−0.018%	$1.1M	$905K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	784.89	−0.023%	$67K	$39K	12x	as long as short