Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.008%

Price spread now: SoDEX against Orderly+0.014%7-day average −0.013% · you sell dearer than you buy

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

Long on Orderly Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$1 on $10k

Price spread, last 3 days (all we have)−0.025%−$3 · spread now +0.014%, 7d avg −0.013%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SoDEX is 0.027% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	805.19	0.0100	pay 0.0100% / 8h	1h 47m	$389K	$592K	50x
Short	SoDEX BNB-USD	805.30	0.0167	get 0.0021% / 1h	47m 11s	$396K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Orderly. 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 OrderlybpFee SoDEXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $14.14
Price spread: +0.014% → −0.013%: $2.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $2.83
Costs to cover: 0.140%
Break-even: 5.6 days

Slippage unknown: Orderly: no order-book sample; SoDEX: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell SoDEX live order book, 2 min ago	0.62 bp	4.6 bp −$5	8.5 bp −$85	76.2 bp −$7,622	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 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 −0.0195% / S +0.0371%	1h	805.14	−0.006%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.30	+0.138%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	−0.004%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.90	+0.088%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.19	0.000%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.23	+0.004%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.100%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0059%	8h	805.32	+0.016%	—	$34.5M	—	as long as short
Hibachi BNB/USDT-P	+0.0064%	1h	805.27	+0.010%	$71K	$48K	12x	as long as short
Bybit BNBUSDT	+0.0085%	8h	804.90	−0.036%	$139.5M	$81.9M	75x	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	805.50	+0.038%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	+0.043%	$608K	$880K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.50	+0.038%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.90	+0.088%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.10	−0.011%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.10	+0.113%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.20	+0.001%	$36.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.03	−0.020%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.88	−0.039%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	+0.031%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.50	+0.039%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.77	+0.072%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	805.19	long leg	$389K	$592K	50x
Derive BNB-PERP	+0.0100%	1h	805.43	+0.030%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.88	+0.085%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.57	+0.047%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.24	+0.130%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	805.93	+0.091%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.78	−0.051%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.30	+0.014%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	806.30	+0.138%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.90	+0.088%	$520.7M	$804.5M	75x	as long as short
Phemex BNBUSDT	+0.0133%	8h	805.78	+0.073%	$70.3M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	805.60	+0.051%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0166%	1h	806.01	+0.102%	$51.9M	$22.0M	10x	as long as short
SoDEX BNB-USDshort	+0.0167%	1h	805.30	+0.014%	$396K	$1.0M	10x
dYdX BNB-USD	+0.0190%	1h	805.13	−0.008%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.14	−0.006%	$2.5M	$931K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	806.34	+0.143%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	+0.045%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.70	+0.063%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.012%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	806.05	+0.107%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	805.28	+0.011%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	806.73	+0.191%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0713%	1h	806.41	+0.152%	$3.0M	$5.5M	40x	as long as short