Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.047%

Price spread now: Binance against Bulk+0.307%54s7-day average −0.015% · you sell dearer than you buy

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−$170.174% of the position

Long on Bulk Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.238%−$24 on $10k

Price spread, last 4 days (all we have)−0.284%−$28 · spread now +0.307%, 7d avg −0.015%

Together, before fees−0.522%−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.322% dearer against Bulk than usual: you sell high and buy low (spread +0.307% now, against its 7-day average of −0.015%): +$32 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 3 days (−0.238% in total) that is about 4.5 days. 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	Bulk BNB-USD	804.34	0.0197	pay 0.0025% / 1h	22m 43s	$650K	$11K	10x
Short	Binance BNBUSDT	806.81	0.0112	get 0.0112% / 8h	2h 22m	$521.0M	$804.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bulk. 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 BulkbpFee BinancebpOrdersPrice spread, now +0.307%Rate

Funding earned: −$17.92
Price spread: +0.307% → −0.015%: $32.2
Slippage, 4 orders: −$0.42
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$3.14
Costs to cover: 0.174%
Break-even: from the start

Slippage from Bulk: live order book, 1 min ago; Binance: live order book, 6 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 Bulk live order book, 1 min ago	0.06 bp	3.6 bp −$4	3.7 bp −$37	6.0 bp −$597	13.9 bp −$6,931
Sell Binance live order book, 6 min ago	0.06 bp	5.1 bp −$5	6.8 bp −$68	17.5 bp −$1,753	45.4 bp −$22.7K

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 −0.0195% / S +0.0371%	1h	805.96	+0.202%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.56	+0.276%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.40	+0.132%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.30	+0.244%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.99	+0.205%	$871K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.02	+0.209%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	806.05	+0.213%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0048%	8h	805.22	+0.110%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0052%	8h	806.10	+0.219%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0077%	8h	805.80	+0.182%	$139.8M	$82.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	804.80	+0.057%	$609K	$879K	50x	as long as short
Aster BNBUSDT	+0.0096%	8h	806.75	+0.300%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	806.34	+0.249%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.85	+0.188%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	806.32	+0.246%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	806.00	+0.206%	$55.2M	$115.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.40	+0.256%	$53K	$168K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.90	+0.194%	$36.1M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.89	+0.193%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.79	+0.180%	$79.3M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.49	+0.142%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	+0.157%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.98	+0.204%	$119K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.08	+0.216%	$390K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.22	+0.234%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.80	+0.305%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	806.54	+0.273%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.60	+0.157%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.91	+0.319%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	805.74	+0.174%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.26	+0.239%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0110%	8h	807.10	+0.343%	$84.7M	$13.6M	200x	as long as short
Binance BNBUSDTshort	+0.0112%	8h	806.81	+0.307%	$521.0M	$804.4M	75x
Phoenix BNB	+0.0125%	1h	805.78	+0.179%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0126%	8h	806.69	+0.292%	$70.4M	$51.8M	50x	as long as short
Hyperliquid BNB	+0.0182%	1h	806.85	+0.312%	$51.9M	$21.4M	10x	as long as short
Bulk BNB-USDlong	+0.0197%	1h	804.34	long leg	$650K	$11K	10x
SoDEX BNB-USD	+0.0204%	1h	806.10	+0.219%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	806.45	+0.262%	$1.2M	$1.5M	20x	as long as short
BloFin BNB-USDT	+0.0231%	8h	806.77	+0.302%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	805.61	+0.158%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0253%	1h	805.64	+0.161%	$170K	$55K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	805.79	+0.181%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	807.16	+0.351%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.068%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0652%	1h	806.87	+0.315%	$3.0M	$5.5M	40x	as long as short