Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.017%

Price spread now: Aster against Derive+0.078%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.078% dearer against Derive than usual: you sell high and buy low (spread +0.078% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BNB-PERP	784.32	0.0100	pay 0.0013% / 1h	17m 20s	$34K	$10K	10x
Short	Aster BNBUSDT	784.94	0	get 0.0000% / 8h	2h 17m	$5.9M	$12.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Derive. 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 DerivebpFee AsterbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$21
Price spread: +0.078% → 0.000%: $7.83
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27.17
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Aster: live order book, 5 min ago. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell Aster live order book, 5 min ago	0.70 bp	4.9 bp −$5	5.8 bp −$58	21.6 bp −$2,160	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BNB on 46 exchanges

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
Hotstuff BNB-PERP	−0.0080%	1h	784.74	+0.053%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0072%	1h	784.36	+0.005%	$2.6M	$1.1M	50x	as long as short
Variational Omni BNB	−0.0029%	8h	784.48	+0.020%	$4.5M	$2.3M	—	as long as short
Bybit BNBUSDT	−0.0021%	8h	783.72	−0.077%	$137.4M	$50.5M	75x	as long as short
Aster BNBUSDTshort	0.0000%	8h	784.94	+0.078%	$5.9M	$12.5M	200x
Kalshi KXBNBPERP	0.0000%	8h	784.70	+0.048%	$88K	$1.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.17	+0.108%	$851K	$3.1M	30x	as long as short
Deribit BNB_USDC-PERPETUAL	0.0000%	1h	784.60	+0.036%	$1.5M	$39K	25x	as long as short
MEXC BNB_USDT	+0.0007%	8h	785.60	+0.163%	$82.8M	$7.9M	200x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.31	−0.001%	$9.5M	—	150x	as long as short

Show all 46 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0008%	8h	784.74	+0.053%	$462.8M	$584.9M	75x	as long as short
Bitget BNBUSDT	+0.0018%	8h	783.73	−0.076%	$74.6M	$25.0M	75x	as long as short
BloFin BNB-USDT	+0.0031%	8h	785.03	+0.090%	$18.7M	$2.2M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	786.87	+0.325%	$19K	$401K	30x	as long as short
RISEx BNB/USDC	+0.0064%	1h	784.55	+0.029%	$1.1M	$878K	20x	as long as short
KuCoin BNBUSDTM	+0.0078%	8h	783.98	−0.044%	$27.9M	$8.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0087%	8h	783.90	−0.054%	$53.3M	$69.9M	50x	as long as short
BingX BNB-USDC	+0.0087%	8h	784.58	+0.033%	—	$13.3M	—	as long as short
Lighter BNB	+0.0096%	1h	784.24	−0.011%	$2.7M	$2.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	785.45	+0.144%	$555K	$1.6M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.16	−0.020%	$1.4M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.83	+0.065%	$52.4M	$10.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.58	+0.033%	$1.3M	$415K	20x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.70	+0.048%	$39K	$58K	10x	as long as short
Bulk BNB-USD	+0.0100%	1h	785.41	+0.139%	$628K	$7K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.20	−0.016%	$54.7M	$46.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.64	+0.040%	$2.2M	$2.3M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.27	+0.121%	$4.1M	$53.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.52	+0.153%	$168K	$467K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.24	−0.011%	$134K	$229K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.56	+0.030%	$262K	$346K	50x	as long as short
Derive BNB-PERPlong	+0.0100%	1h	784.32	long leg	$34K	$10K	10x
SunX BNB-USDT	+0.0100%	8h	785.01	+0.088%	$12K	$913K	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.30	−0.003%	$385K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.05	−0.035%	$8.0M	$7.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.93	+0.078%	$82K	$3.2M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.91	−0.053%	$2.1M	$3.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.28	−0.005%	$377K	$106K	10x	as long as short
Phoenix BNB	+0.0115%	1h	785.37	+0.133%	$156K	$37K	10x	as long as short
Phemex BNBUSDT	+0.0132%	8h	784.77	+0.057%	$67.4M	$46.2M	50x	as long as short
GMX BNB/USD [WBTC.b-USDC]	L +0.0211% / S +0.0017%	1h	784.38	+0.007%	$56K	—	200x	as long as short
GRVT BNB_USDT_Perp	+0.0211%	8h	785.54	+0.155%	$2.9M	$26.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.15	+0.105%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0301%	1h	784.16	−0.021%	$6K	—	40x	as long as short
Hibachi BNB/USDT-P	+0.0368%	1h	784.78	+0.059%	$65K	$25K	12x	as long as short
dYdX BNB-USD	+0.0420%	1h	784.77	+0.057%	$157K	$15K	10x	as long as short