Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0297%/8h= −32.6% APRpaid last 24h −0.066%

Price spread now: Aster against Reya+0.099%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.099% dearer against Reya than usual: you sell high and buy low (spread +0.099% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya BNBRUSDPERP	787.64	0.0325	pay 0.0041% / 1h	28m 07s	$6K	$3K	40x
Short	Aster BNBUSDT	788.41	0.0027	get 0.0027% / 8h	3h 28m	$6.1M	$18.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$62.47
Price spread: +0.099% → 0.000%: $9.87
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$66.59
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 6 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 6 min ago	0.44 bp	4.5 bp −$5	5.8 bp −$58	18.8 bp −$1,879	doesn't fit

Reya: 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 −0.0192% / S +0.0356%	1h	787.83	+0.024%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.78	+0.019%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.28	+0.082%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.72	+0.138%	$851K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.80	+0.021%	$9.5M	—	150x	as long as short
Aster BNBUSDTshort	+0.0027%	8h	788.41	+0.099%	$6.1M	$18.7M	200x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.216%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0040%	8h	788.10	+0.059%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0046%	8h	788.80	+0.148%	$80.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0047%	8h	788.37	+0.093%	$491.7M	$798.5M	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	+0.0050%	8h	788.37	+0.093%	$69.0M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.333%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	788.66	+0.130%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0096%	1h	788.56	+0.117%	$160K	$64K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.02	+0.048%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.85	+0.027%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.90	+0.034%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.48	+0.107%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.28	+0.082%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.77	+0.017%	$138.6M	$73.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.60	−0.005%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	+0.084%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.85	+0.027%	$35.9M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.55	−0.011%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.71	+0.009%	$76.3M	$30.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.19	+0.070%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.21	+0.073%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.67	+0.132%	$4.1M	$73.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.63	+0.126%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.84	+0.026%	$130K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.95	+0.039%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.53	+0.114%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.00	+0.046%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.16	+0.067%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.34	+0.090%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.47	−0.021%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.84	+0.026%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0125%	8h	788.50	+0.110%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0167%	8h	788.56	+0.117%	$18.1M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0174%	8h	789.03	+0.178%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0219%	1h	788.52	+0.112%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.32	+0.087%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.28	+0.082%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERPlong	+0.0325%	1h	787.64	long leg	$6K	$3K	40x
Hibachi BNB/USDT-P	+0.0416%	1h	788.23	+0.076%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.38	+0.094%	$1.1M	$893K	20x	as long as short