Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.032%

Price spread now: Backpack against Gate+0.100%7-day average +0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 7 days−0.123%−$12 · spread now +0.100%, 7d avg +0.137%

Together, before fees+0.039%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.037% cheaper against Gate than usual: you would sell low and buy high (spread +0.100% now, against its 7-day average of +0.137%). If the spread goes back, that is −$4 on $10k: about 21 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	802.30	0.0100	pay 0.0100% / 8h	56m 13s	$35.8M	$57.4M	75x
Short	Backpack BNB_USDC_PERP	803.10	0.0241	get 0.0030% / 1h	56m 13s	$2.7M	$5.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.100%Rate

Funding earned: $29.6
Price spread: +0.100% → +0.137%: −$3.68
Slippage, 4 orders: −$4.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$3.6
Costs to cover: 0.295%
Break-even: 7.9 days

Slippage from Gate: live order book, 3 min ago; Backpack: live order book, 3 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 Gate live order book, 3 min ago	0.31 bp	9.5 bp −$9	12.6 bp −$126	28.0 bp −$2,800	57.1 bp −$28.5K
Sell Backpack live order book, 3 min ago	0.06 bp	5.5 bp −$5	7.9 bp −$79	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 −0.0201% / S +0.0372%	1h	802.44	+0.017%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.52	+0.027%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.51	+0.026%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	−0.163%	$3.0M	$28.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	802.75	+0.056%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.48	+0.023%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	800.04	−0.281%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.49	+0.024%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.30	0.000%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.197%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	802.95	+0.081%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.06	−0.030%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.42	+0.015%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.40	+0.012%	$54.8M	$113.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.70	+0.050%	$53K	$134K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	802.30	long leg	$35.8M	$57.4M	75x
KuCoin BNBUSDTM	+0.0100%	8h	802.38	+0.010%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.11	−0.024%	$79.6M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.60	−0.088%	$4.2M	$77.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.48	−0.102%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.36	+0.007%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.62	+0.040%	$388K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.76	+0.057%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	802.97	+0.083%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.22	−0.010%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.75	+0.056%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0102%	8h	803.32	+0.127%	$6.4M	$18.9M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.16	−0.018%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.77	+0.059%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0112%	8h	803.20	+0.112%	$70.2M	$51.1M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	802.50	+0.025%	$109K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0121%	8h	803.50	+0.150%	$83.6M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0123%	8h	803.23	+0.116%	$502.6M	$818.9M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.191%	$172K	$34K	10x	as long as short
SoDEX BNB-USD	+0.0237%	1h	802.70	+0.050%	$395K	$1.0M	10x	as long as short
Backpack BNB_USDC_PERPshort	+0.0241%	1h	803.10	+0.100%	$2.7M	$5.7M	40x
BloFin BNB-USDT	+0.0242%	8h	802.83	+0.066%	$18.2M	$2.5M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.25	−0.006%	$71K	$48K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.49	+0.023%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.143%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	803.05	+0.093%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.348%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.99	−0.039%	$6K	$3K	40x	as long as short
Hyperliquid BNB	+0.0338%	1h	803.21	+0.113%	$52.0M	$21.6M	10x	as long as short
01 Exchange BNBUSD	+0.0432%	1h	803.42	+0.140%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0510%	1h	802.23	−0.009%	$162K	$62K	10x	as long as short