Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.011%

Price spread now: BloFin against Bulk−0.114%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Bulk Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now −0.114%, 7d avg −0.016%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.099% cheaper against Bulk than usual: you would sell low and buy high (spread −0.114% now, against its 7-day average of −0.016%). If the spread goes back, that is −$10 on $10k: about 7.5 days of funding at the current rate (+$1 a day). Mind the row above: over the last 3 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	794.97	0.0139	pay 0.0017% / 1h	48m 30s	$646K	$10K	10x
Short	BloFin BNB-USDT	794.06	0.0182	get 0.0182% / 8h	6h 48m	$18.1M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.114%Rate

Funding earned: $9.18
Price spread: −0.114% → −0.016%: −$9.88
Slippage, 4 orders: −$0.88
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$20.59
Costs to cover: 0.199%
Break-even: 22.7 days

Slippage from Bulk: live order book, 21 min ago; BloFin: live order book, 5 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, 21 min ago	0.06 bp	3.6 bp −$4	4.1 bp −$41	7.0 bp −$701	16.8 bp −$8,405
Sell BloFin live order book, 5 min ago	0.06 bp	6.1 bp −$6	6.8 bp −$68	16.4 bp −$1,637	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 −0.0161% / S +0.0334%	1h	793.35	−0.204%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.48	−0.188%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	794.04	−0.117%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0033%	8h	793.25	−0.216%	$35.5M	$55.2M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	792.87	−0.264%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	794.21	−0.096%	$858K	$3.0M	30x	as long as short
Variational Omni BNB	+0.0006%	8h	792.93	−0.257%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.36	−0.203%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.273%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	793.68	−0.162%	$6.1M	$20.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDC	+0.0036%	8h	793.08	−0.238%	—	$13.3M	—	as long as short
Phemex BNBUSDT	+0.0040%	8h	793.92	−0.132%	$69.4M	$50.3M	50x	as long as short
dYdX BNB-USD	+0.0041%	1h	793.28	−0.212%	$160K	$63K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.39	−0.450%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	793.90	−0.135%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	793.49	−0.186%	$493.7M	$817.0M	75x	as long as short
Bybit BNBUSDT	+0.0074%	8h	792.70	−0.286%	$138.1M	$77.1M	75x	as long as short
Phoenix BNB	+0.0088%	1h	792.08	−0.364%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.43	−0.194%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.30	−0.210%	$383K	$468K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	792.75	−0.279%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.61	−0.170%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.50	−0.311%	$53.3M	$110.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.30	−0.210%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.28	−0.213%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	792.12	−0.359%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	792.62	−0.296%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.72	−0.157%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	792.88	−0.263%	$112K	$887K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.52	−0.182%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.88	−0.137%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.50	−0.185%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.30	−0.210%	$8.1M	$8.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.56	−0.178%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.70	−0.286%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.41	−0.196%	$381K	$110K	10x	as long as short
Hyperliquid BNB	+0.0113%	1h	793.21	−0.221%	$52.6M	$19.8M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.16	−0.227%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USDlong	+0.0139%	1h	794.97	long leg	$646K	$10K	10x
Kalshi KXBNBPERP	+0.0158%	8h	794.00	−0.122%	$105K	$2.8M	4.8x	as long as short
BloFin BNB-USDTshort	+0.0182%	8h	794.06	−0.114%	$18.1M	$2.5M	75x
01 Exchange BNBUSD	+0.0232%	1h	793.66	−0.165%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	793.82	−0.145%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	791.96	−0.379%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0366%	1h	794.44	−0.067%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	793.77	−0.151%	$68K	$38K	12x	as long as short