Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0293%/8h= +32.0% APRpaid last 24h +0.065%

Price spread now: Bulk against Variational Omni+0.126%7-day average +0.122% · you sell dearer than you buy

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.292%+$29 on $10k

Price spread, last 4 days (all we have)−0.271%−$27 · spread now +0.126%, 7d avg +0.122%

Together, before fees+0.021%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.122%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	788.80	0.0091	pay 0.0091% / 8h	5h 35m	$4.1M	$4.6M	—
Short	Bulk BNB-USD	789.79	0.0383	get 0.0048% / 1h	35m 20s	$640K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.126%Rate

Funding earned: $61.46
Price spread: +0.126% → +0.122%: $0.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $54.81
Costs to cover: 0.070%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bulk: live order book, 29 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, 4 min ago	3.34 bp	doesn't fit	7.6 bp −$76	doesn't fit	doesn't fit
Sell Bulk live order book, 29 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	6.6 bp −$661	17.8 bp −$8,922

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 −0.0167% / S +0.0335%	1h	789.34	+0.069%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.44	+0.082%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.74	+0.120%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.38	+0.074%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.066%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0044%	8h	789.70	+0.114%	$6.3M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.09	+0.037%	$618K	$1.8M	50x	as long as short
BingX BNB-USDC	+0.0058%	8h	789.63	+0.106%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0069%	8h	789.43	+0.080%	$69.1M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0074%	8h	790.30	+0.191%	$80.3M	$12.4M	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	+0.0075%	8h	789.98	+0.150%	$493.9M	$804.6M	75x	as long as short
Variational Omni BNBlong	+0.0091%	8h	788.80	long leg	$4.1M	$4.6M	—
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.97	+0.022%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.15	+0.045%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.49	+0.088%	$266K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.25	+0.058%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.93	+0.144%	$51.8M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.21	+0.053%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.31	+0.065%	$138.8M	$77.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.40	+0.077%	$53.5M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.30	+0.064%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.30	+0.064%	$35.3M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.20	+0.051%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.18	+0.049%	$76.9M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.56	+0.097%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.01	+0.027%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.30	+0.064%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.24	+0.056%	$135K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.70	+0.114%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.08	+0.163%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.67	−0.016%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.77	+0.124%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.68	−0.014%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.45	+0.083%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.63	−0.021%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0136%	1h	789.20	+0.051%	$388K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0137%	8h	789.50	+0.089%	$2.9M	$28.2M	10x	as long as short
Kalshi KXBNBPERP	+0.0189%	8h	789.60	+0.102%	$94K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	789.53	+0.093%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0232%	1h	788.84	+0.006%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	789.75	+0.121%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.92	+0.142%	$1.5M	$147K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.15	+0.044%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.51	+0.090%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USDshort	+0.0383%	1h	789.79	+0.126%	$640K	$6K	10x
Hibachi BNB/USDT-P	+0.0584%	1h	788.80	+0.001%	$67K	$38K	12x	as long as short