Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h −0.105%

Price spread now: Bybit against dYdX−0.054%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.520%−$52 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.054%, 7d avg −0.029%

Together, before fees−0.467%−$47 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 Bybit is 0.025% cheaper against dYdX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	801.29	0.0276	pay 0.0034% / 1h	19m 33s	$162K	$62K	10x
Short	Bybit BNBUSDT	800.86	0.0074	get 0.0074% / 8h	1h 19m	$139.4M	$82.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$42.48
Price spread: −0.054% → −0.029%: −$2.53
Slippage, 4 orders: −$39.01
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$105.03
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from dYdX: live order book, 64 min ago; Bybit: 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 dYdX live order book, 64 min ago	12.51 bp	26.8 bp −$27	155.3 bp −$1,553	272.1 bp −$27.2K	509.6 bp −$254.8K
Sell Bybit live order book, 5 min ago	0.62 bp	6.3 bp −$6	8.8 bp −$88	24.4 bp −$2,438	128.6 bp −$64.3K

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 −0.0201% / S +0.0372%	1h	801.80	+0.063%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.91	+0.077%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.84	+0.193%	$3.0M	$29.6M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	802.90	+0.200%	$158K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.75	+0.182%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.84	+0.068%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0038%	8h	801.85	+0.069%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0062%	8h	801.34	+0.006%	—	$13.3M	—	as long as short
Bybit BNBUSDTshort	+0.0074%	8h	800.86	−0.054%	$139.4M	$82.3M	75x
Lighter BNB	+0.0096%	1h	801.49	+0.025%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	−0.015%	$610K	$1.0M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.24	−0.006%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.50	+0.025%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.20	−0.012%	$54.7M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.70	+0.051%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	801.10	−0.024%	$35.8M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.39	+0.012%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.15	−0.018%	$81.0M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.01	+0.215%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.69	+0.174%	$162K	$443K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.29	0.000%	$121K	$878K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.51	+0.027%	$387K	$568K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.78	+0.060%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	802.65	+0.169%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.86	+0.071%	$8.2M	$7.9M	75x	as long as short
Aster BNBUSDT	+0.0100%	8h	801.96	+0.083%	$6.3M	$19.0M	200x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.93	+0.079%	$78K	$19K	50x	as long as short
SoDEX BNB-USD	+0.0103%	1h	801.70	+0.051%	$394K	$1.0M	10x	as long as short
Extended BNB-USD	+0.0104%	1h	800.88	−0.051%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.66	+0.046%	$385K	$40K	10x	as long as short
Binance BNBUSDT	+0.0118%	8h	801.88	+0.074%	$503.9M	$821.5M	75x	as long as short
MEXC BNB_USDT	+0.0119%	8h	802.20	+0.113%	$83.4M	$13.8M	200x	as long as short
Phemex BNBUSDT	+0.0121%	8h	802.14	+0.106%	$70.1M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	802.83	+0.192%	$173K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	802.63	+0.167%	$71K	$48K	12x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.58	+0.036%	$2.6M	$977K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	803.07	+0.222%	$18.3M	$2.6M	75x	as long as short
dYdX BNB-USDlong	+0.0276%	1h	801.29	long leg	$162K	$62K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	802.11	+0.102%	$1.6M	$165K	25x	as long as short
Hyperliquid BNB	+0.0308%	1h	802.41	+0.139%	$51.9M	$21.9M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.474%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0314%	1h	802.70	+0.175%	$652K	$21K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.52	+0.028%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	802.02	+0.091%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	801.12	−0.022%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0609%	1h	802.37	+0.134%	$2.7M	$5.7M	40x	as long as short