BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0300%/8h= −32.8% APRnext payment −$0.37 per $10,000 · paid last 24h −0.019%

Price spread now: Polymarket Perps against Deribit−0.042%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

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

costs, in and out, $10k−$300.304% of the position

Long on Deribit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 3 days (all we have)+0.053%+$5 · spread now −0.042%, 7d avg −0.047%

Together, before fees−0.075%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.127% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 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	793.58	0.0400	pay 0.0050% / 1h	42m 52s	$1.6M	$161K	25x
Short	Polymarket Perps BNB-USD	793.25	0.0100	get 0.0013% / 1h	42m 52s	$111K	$889K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$63
Price spread: −0.042% → −0.047%: $0.53
Slippage, 4 orders: −$15.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$92.92
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Polymarket Perps: live order book, 25 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, 1 min ago	2.71 bp	8.1 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 25 min ago	2.88 bp	6.9 bp −$7	6.9 bp −$69	14.8 bp −$1,479	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	793.27	−0.039%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.02	−0.071%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.65	+0.009%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0009%	8h	791.90	−0.212%	$35.3M	$55.4M	75x	as long as short
StandX BNB-USD	0.0000%	1h	793.84	+0.033%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.25	−0.042%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0010%	8h	792.53	−0.133%	$4.1M	$5.0M	—	as long as short
GRVT BNB_USDT_Perp	+0.0011%	8h	793.23	−0.044%	$3.0M	$28.4M	10x	as long as short
Phemex BNBUSDT	+0.0018%	8h	793.54	−0.005%	$69.3M	$50.3M	50x	as long as short
Aster BNBUSDT	+0.0031%	8h	792.84	−0.093%	$6.1M	$19.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.450%	$19K	$789K	30x	as long as short
dYdX BNB-USD	+0.0039%	1h	793.18	−0.050%	$160K	$63K	10x	as long as short
BingX BNB-USDC	+0.0050%	8h	792.59	−0.125%	—	$13.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	792.52	−0.134%	$608K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	792.70	−0.111%	$82.2M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	792.45	−0.143%	$492.6M	$816.2M	75x	as long as short
Phoenix BNB	+0.0088%	1h	793.02	−0.071%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.23	−0.045%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.06	−0.066%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.25	−0.042%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.70	+0.015%	$1.2M	$932K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	792.00	−0.199%	$138.0M	$77.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.90	−0.212%	$53.1M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.50	−0.010%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.96	−0.204%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.68	−0.240%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.14	−0.055%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.32	−0.033%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USDshort	+0.0100%	1h	793.25	−0.042%	$111K	$889K	10x
Derive BNB-PERP	+0.0100%	1h	793.23	−0.044%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.07	+0.061%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.20	−0.048%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.04	−0.069%	$8.1M	$8.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.89	+0.039%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.75	−0.231%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.15	−0.054%	$381K	$110K	10x	as long as short
Hyperliquid BNB	+0.0121%	1h	793.18	−0.051%	$52.6M	$19.9M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.47	−0.014%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0160%	8h	793.80	+0.028%	$111K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0167%	1h	793.21	−0.047%	$644K	$10K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.06	+0.060%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	793.90	+0.040%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.06	−0.066%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0386%	1h	793.52	−0.008%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0400%	1h	793.58	long leg	$1.6M	$161K	25x
Hibachi BNB/USDT-P	+0.0480%	1h	792.90	−0.086%	$68K	$38K	12x	as long as short