Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.004%

Price spread now: Pacifica against Phemex+0.044%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.044%, 7d avg −0.036%

Together, before fees+0.084%+ Points / potential airdropPacifica: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Pacifica is 0.080% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	787.83	0.0066	pay 0.0066% / 8h	1h 57m	$68.9M	$50.9M	50x
Short	Pacifica BNB	788.18	0.0100	get 0.0013% / 1h	57m 56s	$1.2M	$933K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.044%Rate

Funding earned: $7.07
Price spread: +0.044% → −0.036%: $8.01
Slippage, 4 orders: −$5.14
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$10.07
Costs to cover: 0.251%
Break-even: 17.0 days

Slippage from Phemex: live order book, 6 min ago; Pacifica: live order book, 1 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, 6 min ago	0.32 bp	7.8 bp −$8	7.8 bp −$78	14.4 bp −$1,439	doesn't fit
Sell Pacifica live order book, 1 min ago	0.63 bp	4.8 bp −$5	doesn't fit	doesn't fit	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	787.32	−0.064%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	+0.036%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.08	+0.032%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.25	−0.073%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.191%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0045%	8h	787.82	−0.001%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	787.59	−0.030%	—	$22.2M	—	as long as short
dYdX BNB-USD	+0.0060%	1h	787.75	−0.010%	$160K	$62K	10x	as long as short
Phemex BNBUSDTlong	+0.0066%	8h	787.83	long leg	$68.9M	$50.9M	50x
MEXC BNB_USDT	+0.0067%	8h	788.40	+0.072%	$81.0M	$11.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0067%	8h	787.96	+0.016%	$490.4M	$815.8M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.070%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.37	−0.059%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.25	−0.074%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	−0.023%	$1.4M	$2.7M	20x	as long as short
Pacifica BNBshort	+0.0100%	1h	788.18	+0.044%	$1.2M	$933K	20x
Bybit BNBUSDT	+0.0100%	8h	787.50	−0.042%	$138.6M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.067%	$53.6M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	+0.047%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.30	−0.067%	$37.0M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.10	−0.093%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.13	−0.089%	$76.2M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.64	−0.024%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.80	−0.003%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.41	+0.074%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.40	+0.072%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.78	−0.006%	$132K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.39	−0.055%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.29	+0.059%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.067%	$387K	$987K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.50	−0.042%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.23	+0.051%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.17	−0.084%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.25	−0.073%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.39	+0.071%	$169K	$34K	10x	as long as short
Kalshi KXBNBPERP	+0.0136%	8h	788.20	+0.047%	$169K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.88	+0.006%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.58	−0.032%	$1.5M	$143K	25x	as long as short
Hyperliquid BNB	+0.0205%	1h	787.97	+0.018%	$51.6M	$17.7M	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	787.08	−0.095%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	788.63	+0.102%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	788.56	+0.093%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.40	−0.055%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.094%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.28	+0.057%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0568%	1h	787.53	−0.038%	$67K	$39K	12x	as long as short