Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.048%

Price spread now: Variational Omni against Hotstuff−0.113%46s7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.113% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.113% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.5 days of funding at the current rate (+$3 a day). The two prices were read 46 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	Hotstuff BNB-PERP	802.96	−0.0080	get 0.0010% / 1h	48m 45s	$4K	$1K	25x
Short	Variational Omni BNB	802.05	0.0029	get 0.0029% / 8h	48m 45s	$4.2M	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hotstuff. 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 HotstuffbpFee Variational OmnibpOrdersPrice spread, now −0.113%Rate

Funding earned: $22.92
Price spread: −0.113% → 0.000%: −$11.34
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.58
Costs to cover: 0.050%
Break-even: 5.0 days

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, just now. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, just now	3.33 bp	doesn't fit	7.4 bp −$74	doesn't fit	doesn't fit

Hotstuff: 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 −0.0201% / S +0.0372%	1h	802.55	−0.050%	$48K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	802.96	long leg	$4K	$1K	25x
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.50	−0.057%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.04	+0.010%	$3.0M	$28.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.66	+0.087%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.66	−0.037%	$9.8M	—	150x	as long as short
Variational Omni BNBshort	+0.0029%	8h	802.05	−0.113%	$4.2M	$5.4M	—
BingX BNB-USDC	+0.0053%	8h	803.02	+0.007%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0063%	8h	802.50	−0.057%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.279%	$607K	$996K	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	803.27	+0.039%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.25	−0.088%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.06	+0.012%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.057%	$54.8M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.10	+0.017%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.55	−0.051%	$35.9M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.76	−0.025%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.41	−0.068%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.14	+0.022%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.77	−0.024%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.41	−0.068%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.27	−0.086%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.45	−0.064%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.28	+0.040%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.44	−0.065%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.43	+0.058%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	803.59	+0.079%	$6.3M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.37	−0.074%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.36	−0.074%	$385K	$40K	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	802.90	−0.007%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0113%	8h	802.94	−0.002%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.80	+0.105%	$83.6M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.63	+0.083%	$502.6M	$818.1M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.03	+0.009%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0147%	1h	802.60	−0.045%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	802.79	−0.021%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.77	−0.023%	$71K	$49K	12x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.14	+0.022%	$18.2M	$2.6M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.77	−0.023%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0260%	1h	803.68	+0.090%	$52.0M	$21.4M	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.265%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0309%	1h	803.58	+0.077%	$653K	$20K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	802.13	−0.104%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0335%	1h	803.31	+0.044%	$2.7M	$5.7M	40x	as long as short
01 Exchange BNBUSD	+0.0392%	1h	803.31	+0.044%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0461%	1h	802.89	−0.009%	$162K	$62K	10x	as long as short