BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h −0.013%

Price spread now: Arcus against Deribit+0.018%7-day average +0.053% · 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−$37as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.377%+$38 · spread now +0.018%, 7d avg +0.053%

Together, before fees+0.423%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Arcus is 0.034% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.053%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.046% in total (about 4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	791.56	0.0300	pay 0.0037% / 1h	11m 32s	$1.5M	$143K	25x
Short	Arcus BNB-USD	791.70	0.0100	get 0.0013% / 1h	11m 32s	$52K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. 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 DeribitbpFee ArcusbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$42
Price spread: +0.018% → +0.053%: −$3.43
Slippage, 4 orders: −$22.4
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$79.32
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Arcus: live order book, 51 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 Deribit live order book, 2 min ago	2.72 bp	8.7 bp −$9	13.9 bp −$139	doesn't fit	doesn't fit
Sell Arcus live order book, 51 min ago	4.43 bp	8.5 bp −$8	22.5 bp −$225	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 −0.0167% / S +0.0335%	1h	790.99	−0.072%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.68	+0.016%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.14	+0.074%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.09	−0.058%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.710%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.060%	$615K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0050%	8h	791.72	+0.020%	$6.2M	$18.6M	200x	as long as short
Phemex BNBUSDT	+0.0052%	8h	791.59	+0.004%	$69.3M	$50.5M	50x	as long as short
BingX BNB-USDT	+0.0060%	8h	791.53	−0.003%	—	$34.3M	—	as long as short
MEXC BNB_USDT	+0.0072%	8h	792.30	+0.094%	$80.5M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0072%	8h	792.19	+0.080%	$494.9M	$791.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	790.94	−0.078%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.58	+0.003%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.09	−0.059%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.00	−0.070%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.76	+0.026%	$52.0M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.53	−0.003%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.48	−0.010%	$139.3M	$76.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.50	−0.007%	$53.7M	$111.5M	50x	as long as short
Arcus BNB-USDshort	+0.0100%	1h	791.70	+0.018%	$52K	$130K	10x
Gate BNB_USDT	+0.0100%	8h	791.30	−0.032%	$35.4M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.26	−0.037%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.13	−0.054%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.33	−0.029%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.90	+0.043%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.77	+0.027%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.88	+0.041%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.94	−0.078%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.24	−0.040%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.64	+0.011%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.30	−0.032%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.36	−0.024%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	791.90	+0.043%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.05	−0.064%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.10	−0.058%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	792.24	+0.086%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0143%	8h	791.96	+0.051%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	791.60	+0.006%	$83K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0194%	8h	791.97	+0.052%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0200%	1h	791.15	−0.051%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	792.14	+0.074%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0300%	1h	791.56	long leg	$1.5M	$143K	25x
Reya BNBRUSDPERP	+0.0327%	1h	790.74	−0.103%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.89	+0.043%	$1.1M	$982K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.079%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	791.61	+0.007%	$68K	$38K	12x	as long as short