Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.005%

Price spread now: Aevo against Phemex−0.002%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.002%, 7d avg −0.059%

Together, before fees+0.072%+$7 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 Aevo is 0.057% dearer against Phemex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	784.99	0.0050	pay 0.0050% / 8h	2h 29m	$68.7M	$50.6M	50x
Short	Aevo BNB-PERP	784.97	0.0104	get 0.0013% / 1h	29m 03s	$377K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.002%Rate

Funding earned: $11.28
Price spread: −0.002% → −0.059%: $5.66
Slippage, 4 orders: −$46.92
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$57.98
Costs to cover: 0.749%
Break-even: 43.0 days

Slippage from Phemex: live order book, 5 min ago; Aevo: live order book, 20 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 Phemex live order book, 5 min ago	0.19 bp	6.6 bp −$7	8.1 bp −$81	12.8 bp −$1,282	doesn't fit
Sell Aevo live order book, 20 min ago	8.25 bp	32.1 bp −$32	37.8 bp −$378	58.2 bp −$5,821	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 −0.0192% / S +0.0356%	1h	784.56	−0.054%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.16	+0.022%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.52	+0.068%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.65	−0.043%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	784.98	−0.001%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.561%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0042%	8h	784.61	−0.048%	—	$22.1M	—	as long as short
Phemex BNBUSDTlong	+0.0050%	8h	784.99	long leg	$68.7M	$50.6M	50x
MEXC BNB_USDT	+0.0052%	8h	785.40	+0.052%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0054%	8h	784.96	−0.004%	$488.9M	$809.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.34	−0.082%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.32	−0.085%	$577K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.63	−0.046%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.74	−0.032%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.40	−0.075%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.94	−0.006%	$51.3M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.88	−0.014%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.30	−0.088%	$137.8M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.20	−0.101%	$53.3M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.20	+0.027%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.45	−0.069%	$36.4M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.62	−0.047%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.03	−0.122%	$75.9M	$30.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.83	−0.020%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.13	−0.110%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.38	+0.049%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.10	+0.014%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.88	−0.014%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.80	−0.024%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.66	+0.085%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.60	−0.050%	$386K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.67	−0.041%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.97	−0.002%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.39	−0.077%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERPshort	+0.0104%	1h	784.97	−0.002%	$377K	$110K	10x
Phoenix BNB	+0.0107%	1h	785.13	+0.018%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	785.10	+0.014%	$154K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0141%	1h	784.34	−0.082%	$159K	$61K	10x	as long as short
BloFin BNB-USDT	+0.0174%	8h	785.33	+0.043%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0206%	8h	784.96	−0.004%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.88	+0.113%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.089%	$637K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.61	−0.048%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	785.13	+0.018%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.38	+0.050%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	785.03	+0.005%	$67K	$39K	12x	as long as short