Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: Variational Omni against Orderly−0.081%7-day average −0.067% · you buy dearer than you sell

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.081%, 7d avg −0.067%

Together, before fees+0.054%+ Points / potential airdropVariational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	789.14	0.0100	pay 0.0100% / 8h	4h 41m	$265K	$492K	50x
Short	Variational Omni BNB	788.50	0.0100	get 0.0100% / 8h	4h 41m	$4.1M	$4.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.081%Rate

Funding earned: $0.01
Price spread: −0.081% → −0.067%: −$1.36
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.35
Costs to cover: 0.060%
Break-even: 4905.5 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 2 min ago	3.34 bp	doesn't fit	6.2 bp −$62	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 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 −0.0184% / S +0.0349%	1h	788.99	−0.019%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.31	+0.022%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.66	+0.193%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.01	−0.016%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.021%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	789.75	+0.077%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	789.48	+0.043%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.039%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.10	+0.122%	$80.2M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	789.89	+0.095%	$492.8M	$789.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	789.64	+0.063%	$69.1M	$50.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.41	+0.034%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	789.14	long leg	$265K	$492K	50x
Nado BNB-PERP	+0.0100%	1h	788.65	−0.062%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.73	+0.075%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.51	+0.047%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.02	−0.015%	$138.8M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	−0.005%	$53.4M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	+0.058%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.05	−0.011%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.00	−0.018%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.92	−0.028%	$76.4M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.47	+0.042%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNBshort	+0.0100%	8h	788.50	−0.081%	$4.1M	$4.6M	—
edgeX BNBUSDC	+0.0100%	4h	789.10	−0.005%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.85	+0.090%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.94	−0.025%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.19	+0.006%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.60	+0.058%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.20	+0.008%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.20	+0.007%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.98	+0.106%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.74	−0.050%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.12	−0.002%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.10	+0.122%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0122%	1h	788.95	−0.024%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.89	+0.096%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0182%	8h	789.60	+0.058%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	790.74	+0.203%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.39	+0.032%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	788.83	−0.040%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0272%	1h	789.78	+0.081%	$640K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.52	+0.048%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.60	−0.069%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.25	+0.015%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	789.46	+0.041%	$67K	$38K	12x	as long as short