BNB

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.051%

7d average−0.027%if it closes, per $10,000$5funding while held, a day+$0.28

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	797.69	0.0100	pay 0.0100% / 8h	5h 52m	$385K	$696K	50x
Short	Kalshi KXBNBPERP	798.10	0.0109	get 0.0109% / 8h	1h 52m	$106K	$2.9M	4.8x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee OrderlybpFee KalshibpOrdersClose when spread is

Spread captured: $5.14
Funding while held: $0.28
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$10.59
Spread needed to break even: 0.160%

Slippage unknown: Orderly: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0009%
Per $10,000 a day: +$0.28
Average in range /8h: —

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 Orderly no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	0.63 bp	5.6 bp −$6	11.6 bp −$116	doesn't fit	doesn't fit

Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.

Variational Omni795.40cheapest Coinbase International796.44+0.131%Phoenix796.45+0.132%ApeX Omni796.78+0.173%edgeX796.78+0.173%Nado797.15+0.220%Bitget797.31+0.240%KuCoin797.32+0.241%Extended797.45+0.258%Kraken Futures797.51+0.265%StandX797.54+0.269%HTX797.55+0.270%Gate797.65+0.283%GMX797.66+0.284%Derive797.67+0.285%

Orderly797.69+0.288%

Bybit797.70+0.289%SoDEX797.70+0.289%gTrade (Gains Network)797.71+0.290%Reya797.73+0.293%Lighter797.77+0.298%OKX797.80+0.302%Polymarket Perps797.82+0.304%dYdX797.85+0.308%Aevo797.86+0.309%Bulk797.89+0.312%Hibachi797.89+0.313%Phemex797.96+0.322%Arcus798.00+0.327%BingX798.00+0.327%Pacifica798.03+0.330%RISEx798.06+0.334%Deribit798.08+0.336%

Kalshi798.10+0.339%

Hotstuff798.23+0.356%BloFin798.23+0.356%Binance798.35+0.371%SunX798.37+0.373%Backpack798.40+0.377%Aster798.46+0.384%Hyperliquid798.46+0.384%Paradex798.55+0.396%01 Exchange798.61+0.403%Injective798.65+0.408%MEXC798.90+0.440%

BNB on 45 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni BNB	−0.287%	+0.0023%	8h	$4.0M	$6.4M	—	as long as short
Coinbase International BNB-PERP-INTX	−0.157%	+0.0064%	1h	$598K	$917K	50x	as long as short
Phoenix BNB	−0.155%	+0.0119%	1h	$169K	$28K	10x	as long as short
ApeX Omni BNBUSDT	−0.114%	+0.0100%	1h	$158K	$436K	50x	as long as short
edgeX BNBUSDC	−0.114%	+0.0100%	4h	$4.1M	$77.2M	30x	as long as short
Nado BNB-PERP	−0.068%	+0.0100%	1h	$1.5M	$2.8M	20x	as long as short
Bitget BNBUSDT	−0.048%	+0.0100%	8h	$78.0M	$25.0M	75x	as long as short
KuCoin BNBUSDTM	−0.046%	+0.0100%	8h	$27.9M	$10.6M	75x	as long as short
Extended BNB-USD	−0.030%	+0.0104%	1h	$1.8M	$6.5M	50x	as long as short
Kraken Futures PF_BNBUSD	−0.022%	+0.0041%	1h	$2.5M	$914K	50x	as long as short

Show all 45 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
StandX BNB-USD	−0.019%	0.0000%	1h	$862K	$3.3M	30x	as long as short
HTX BNB-USDT	−0.017%	+0.0100%	8h	$8.2M	$6.6M	75x	as long as short
Gate BNB_USDT	−0.005%	+0.0100%	8h	$36.2M	$59.6M	75x	as long as short
GMX BNB/USD [WBTC.b-USDC]	−0.003%	L −0.0194% / S +0.0369%	1h	$48K	—	200x	as long as short
Derive BNB-PERP	−0.002%	+0.0100%	1h	$32K	$5K	10x	as long as short
Orderly PERP_BNB_USDClong	0.000%	+0.0100%	8h	$385K	$696K	50x
Bybit BNBUSDT	+0.001%	−0.0002%	8h	$138.3M	$91.6M	75x	as long as short
SoDEX BNB-USD	+0.001%	+0.0100%	1h	$392K	$1.0M	10x	as long as short
gTrade (Gains Network) BNB/USD	+0.002%	L +0.0008% / S −0.0008%	1h	$9.7M	—	150x	as long as short
Reya BNBRUSDPERP	+0.005%	+0.0332%	1h	$9K	—	40x	as long as short
Lighter BNB	+0.010%	+0.0096%	1h	$2.6M	$3.3M	20x	as long as short
OKX BNB-USDT-SWAP	+0.014%	+0.0100%	8h	$54.8M	$115.8M	50x	as long as short
Polymarket Perps BNB-USD	+0.016%	+0.0100%	1h	$123K	$880K	10x	as long as short
dYdX BNB-USD	+0.020%	+0.0228%	1h	$173K	$50K	10x	as long as short
Aevo BNB-PERP	+0.021%	+0.0104%	1h	$383K	$40K	10x	as long as short
Bulk BNB-USD	+0.025%	+0.0100%	1h	$648K	$83K	10x	as long as short
Hibachi BNB/USDT-P	+0.025%	+0.0176%	1h	$71K	$47K	12x	as long as short
Phemex BNBUSDT	+0.034%	+0.0059%	8h	$69.9M	$51.5M	50x	as long as short
Arcus BNB-USD	+0.039%	+0.0100%	1h	$52K	$239K	10x	as long as short
BingX BNB-USDT	+0.039%	−0.0019%	8h	—	$33.1M	—	as long as short
Pacifica BNB	+0.043%	+0.0100%	1h	$1.2M	$910K	20x	as long as short
RISEx BNB/USDC	+0.046%	+0.0118%	1h	$1.1M	$1.5M	20x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.049%	+0.0400%	1h	$1.6M	$168K	25x	as long as short
Kalshi KXBNBPERPshort	+0.051%	+0.0109%	8h	$106K	$2.9M	4.8x
Hotstuff BNB-PERP	+0.068%	−0.0080%	1h	$4K	$1K	25x	as long as short
BloFin BNB-USDT	+0.068%	+0.0219%	8h	$19.0M	$3.1M	75x	as long as short
Binance BNBUSDT	+0.083%	+0.0099%	8h	$514.3M	$807.3M	75x	as long as short
SunX BNB-USDT	+0.085%	+0.0100%	8h	$13K	$1.7M	50x	as long as short
Backpack BNB_USDC_PERP	+0.089%	+0.0230%	1h	$2.7M	$5.1M	40x	as long as short
Aster BNBUSDT	+0.096%	+0.0094%	8h	$6.3M	$18.8M	200x	as long as short
Hyperliquid BNB	+0.097%	+0.0217%	1h	$51.9M	$21.1M	10x	as long as short
Paradex BNB-USD-PERP	+0.108%	+0.0100%	8h	$78K	$91K	50x	as long as short
01 Exchange BNBUSD	+0.115%	+0.0312%	1h	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.120%	+0.0033%	1h	$19K	$387K	30x	as long as short
MEXC BNB_USDT	+0.152%	+0.0098%	8h	$83.9M	$16.0M	200x	as long as short