Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against Variational Omni+0.185%73s7-day average +0.100% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.185%, 7d avg +0.100%

Together, before fees+0.046%+ Points / potential airdropVariational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.084% dearer against Variational Omni than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.100%. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	792.53	0.0010	pay 0.0010% / 8h	6h 46m	$4.1M	$5.0M	—
Short	ApeX Omni BNBUSDT	793.99	0.0100	get 0.0013% / 1h	46m 21s	$160K	$435K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.185%Rate

Funding earned: $18.94
Price spread: +0.185% → +0.100%: $8.43
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $17.37
Costs to cover: 0.100%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; ApeX Omni: live order book, 21 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 Variational Omni RFQ quote, 3 min ago	3.34 bp	doesn't fit	5.0 bp −$50	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 21 min ago	1.50 bp	13.4 bp −$13	35.1 bp −$351	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 −0.0161% / S +0.0334%	1h	792.73	+0.026%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	792.99	+0.058%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.03	+0.063%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0024%	8h	792.80	+0.034%	$35.4M	$55.4M	75x	as long as short
StandX BNB-USD	0.0000%	1h	793.57	+0.132%	$858K	$3.0M	30x	as long as short
GRVT BNB_USDT_Perp	+0.0002%	8h	793.91	+0.174%	$3.0M	$28.4M	10x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	792.91	+0.048%	$9.7M	—	150x	as long as short
Variational Omni BNBlong	+0.0010%	8h	792.53	long leg	$4.1M	$5.0M	—
Aster BNBUSDT	+0.0033%	8h	793.45	+0.116%	$6.1M	$19.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.585%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDC	+0.0036%	8h	793.00	+0.060%	—	$13.4M	—	as long as short
dYdX BNB-USD	+0.0039%	1h	793.14	+0.078%	$160K	$63K	10x	as long as short
Phemex BNBUSDT	+0.0046%	8h	793.29	+0.096%	$69.3M	$50.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	792.52	−0.001%	$608K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	793.60	+0.135%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	793.56	+0.130%	$493.7M	$814.7M	75x	as long as short
Phoenix BNB	+0.0088%	1h	792.08	−0.056%	$170K	$36K	10x	as long as short
Bybit BNBUSDT	+0.0089%	8h	793.00	+0.060%	$138.2M	$77.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	793.03	+0.063%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	792.95	+0.053%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	792.75	+0.028%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.16	+0.080%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.90	+0.047%	$53.2M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.10	+0.072%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	792.67	+0.018%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	792.84	+0.039%	$77.4M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.89	+0.172%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDTshort	+0.0100%	1h	793.99	+0.185%	$160K	$435K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	792.66	+0.017%	$112K	$887K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.19	+0.084%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.39	+0.109%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.10	+0.072%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.29	−0.029%	$8.1M	$8.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.49	+0.121%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.75	+0.028%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.08	+0.070%	$381K	$110K	10x	as long as short
Hyperliquid BNB	+0.0123%	1h	793.48	+0.120%	$52.6M	$19.8M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.05	+0.067%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0159%	8h	793.30	+0.098%	$106K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0167%	1h	793.21	+0.086%	$644K	$10K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.06	+0.193%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	793.55	+0.129%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	792.51	−0.002%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0366%	1h	793.53	+0.127%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	793.57	+0.132%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	793.05	+0.066%	$68K	$38K	12x	as long as short