Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h +0.064%

Price spread now: dYdX against BloFin−0.005%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.248%+$25 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.005%, 7d avg −0.085%

Together, before fees+0.199%+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.080% dearer against BloFin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	797.60	0.0190	pay 0.0190% / 8h	7h 04m	$18.1M	$2.5M	75x
Short	dYdX BNB-USD	797.56	0.0187	get 0.0023% / 1h	4m 30s	$161K	$63K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$0.61
Price spread: −0.005% → −0.085%: $7.97
Slippage, 4 orders: −$35.78
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$50.42
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; dYdX: live order book, 4 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 BloFin live order book, 4 min ago	0.06 bp	6.7 bp −$7	7.9 bp −$79	17.6 bp −$1,762	doesn't fit
Sell dYdX live order book, 4 min ago	14.44 bp	25.1 bp −$25	63.4 bp −$634	113.2 bp −$11.3K	148.8 bp −$74.4K

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 −0.0159% / S +0.0335%	1h	797.42	−0.023%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.02	−0.073%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	797.81	+0.026%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0009%	8h	797.10	−0.063%	$35.8M	$57.2M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.15	+0.194%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	797.92	+0.040%	$862K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.48	−0.015%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	796.50	−0.138%	$4.1M	$5.1M	—	as long as short
Phemex BNBUSDT	+0.0019%	8h	797.65	+0.006%	$69.7M	$50.2M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.939%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0045%	8h	797.91	+0.039%	$6.1M	$19.5M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	0.000%	$610K	$1.1M	50x	as long as short
BingX BNB-USDC	+0.0057%	8h	797.42	−0.023%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0069%	8h	798.40	+0.100%	$83.0M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0069%	8h	798.02	+0.053%	$496.7M	$810.4M	75x	as long as short
Bybit BNBUSDT	+0.0075%	8h	797.30	−0.038%	$138.6M	$76.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	797.74	+0.018%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	797.27	−0.041%	$171K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.30	−0.038%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.72	+0.015%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	797.20	−0.050%	$54.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	797.80	+0.025%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	797.33	−0.034%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.21	−0.049%	$78.1M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	797.71	+0.014%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.32	+0.216%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	797.37	−0.029%	$111K	$887K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.40	−0.025%	$385K	$467K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	797.12	−0.061%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	797.74	+0.018%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	797.20	−0.050%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.04	−0.070%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.28	+0.086%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.06	−0.067%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	797.03	−0.071%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.137%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.62	+0.002%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	797.70	+0.013%	$102K	$2.8M	4.8x	as long as short
dYdX BNB-USDshort	+0.0187%	1h	797.56	−0.005%	$161K	$63K	10x
BloFin BNB-USDTlong	+0.0190%	8h	797.60	long leg	$18.1M	$2.5M	75x
01 Exchange BNBUSD	+0.0200%	1h	798.09	+0.061%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0282%	1h	798.24	+0.080%	$53.0M	$20.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	797.43	−0.021%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.10	−0.063%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0384%	1h	797.27	−0.041%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	797.76	+0.020%	$2.7M	$5.7M	40x	as long as short