Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0073%/8h= +7.9% APRpaid last 24h +0.040%

Price spread now: BloFin against Derive+0.134%115s7-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 BloFin

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—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.134% dearer against Derive than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 115 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	Derive BNB-PERP	784.39	0.0100	pay 0.0013% / 1h	31m 21s	$31K	$12K	10x
Short	BloFin BNB-USDT	785.44	0.0173	get 0.0173% / 8h	2h 31m	$17.7M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.134%Rate

Funding earned: $15.24
Price spread: +0.134% → 0.000%: $13.39
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $10.63
Costs to cover: 0.180%
Break-even: 2.1 days

Slippage unknown: Derive: no order-book sample; BloFin: live order book, 3 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 BloFin live order book, 3 min ago	0.57 bp	6.7 bp −$7	7.1 bp −$71	10.2 bp −$1,019	18.8 bp −$9,398

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 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 −0.0192% / S +0.0356%	1h	784.11	−0.035%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.20	+0.103%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.53	+0.145%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.21	−0.023%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	784.79	+0.051%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.639%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	784.37	−0.002%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0050%	8h	784.86	+0.060%	$68.7M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	785.20	+0.103%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	784.93	+0.069%	$488.6M	$809.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.10	−0.037%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.32	−0.009%	$577K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.58	+0.024%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.36	−0.004%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.55	+0.020%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.75	+0.046%	$51.5M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.74	+0.044%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.30	−0.011%	$137.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.20	−0.024%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.70	+0.040%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.15	−0.031%	$36.3M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.93	−0.059%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.89	−0.064%	$75.9M	$30.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.02	+0.080%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	+0.209%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.38	+0.126%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.10	+0.091%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.30	−0.011%	$131K	$954K	10x	as long as short
Derive BNB-PERPlong	+0.0100%	1h	784.39	long leg	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	784.98	+0.075%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.30	−0.011%	$386K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.36	−0.004%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.87	+0.061%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.99	−0.051%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.56	+0.022%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.73	+0.171%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0119%	1h	784.34	−0.006%	$159K	$61K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	785.10	+0.091%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDTshort	+0.0173%	8h	785.44	+0.134%	$17.7M	$2.2M	75x
GRVT BNB_USDT_Perp	+0.0205%	8h	785.51	+0.143%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.08	+0.088%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.166%	$637K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.64	+0.031%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.06	−0.042%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.79	+0.050%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	785.21	+0.104%	$67K	$39K	12x	as long as short