BNB

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.129%

7d average—if it closes, per $10,000$13funding while held, a day+$2.47

Long on Variational Omni Short on Derive

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	797.03	0.0018	pay 0.0018% / 8h	58m 48s	$4.4M	$6.1M	—
Short	Derive BNB-PERP	798.05	0.0100	get 0.0013% / 1h	58m 48s	$32K	$5K	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee Variational OmnibpFee DerivebpOrdersClose when spread is

Spread captured: $12.88
Funding while held: $2.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: $9.35
Spread needed to break even: 0.060%

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Derive: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0082%
Per $10,000 a day: +$2.47
Average in range /8h: —

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, 2 min ago	3.33 bp	doesn't fit	6.8 bp −$68	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 price on every exchange

against the cheapest. Click to use as the short leg.

Coinbase International796.96cheapest Nado797.00+0.005%

Variational Omni797.03+0.008%

Reya797.05+0.012%Hibachi797.28+0.040%Polymarket Perps797.29+0.041%GMX797.40+0.055%gTrade (Gains Network)797.42+0.057%StandX797.54+0.073%Kraken Futures797.63+0.085%RISEx797.65+0.087%edgeX797.69+0.092%Phoenix797.71+0.094%Hotstuff797.75+0.099%HTX797.76+0.100%Aevo797.84+0.110%Orderly797.87+0.114%SoDEX797.90+0.118%

Derive798.05+0.137%

Phemex798.07+0.139%SunX798.14+0.148%dYdX798.24+0.161%Extended798.30+0.168%ApeX Omni798.31+0.169%Deribit798.31+0.169%01 Exchange798.35+0.174%BloFin798.53+0.197%Bitget798.61+0.207%Injective798.65+0.212%KuCoin798.68+0.216%Kalshi798.70+0.218%Gate798.75+0.225%Bybit798.80+0.231%OKX798.80+0.231%Pacifica798.98+0.253%Arcus799.00+0.256%BingX799.00+0.256%Lighter799.16+0.276%Backpack799.20+0.281%Aster799.40+0.306%Bulk799.50+0.319%Binance799.61+0.333%Hyperliquid799.62+0.334%Paradex799.66+0.339%MEXC800.50+0.444%

BNB on 45 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	−0.008%	+0.0072%	1h	$600K	$862K	50x	as long as short
Nado BNB-PERP	−0.003%	+0.0100%	1h	$1.5M	$2.9M	20x	as long as short
Variational Omni BNBlong	0.000%	+0.0018%	8h	$4.4M	$6.1M	—
Reya BNBRUSDPERP	+0.004%	+0.0326%	1h	$9K	—	40x	as long as short
Hibachi BNB/USDT-P	+0.031%	+0.0480%	1h	$71K	$40K	12x	as long as short
Polymarket Perps BNB-USD	+0.033%	+0.0100%	1h	$104K	$849K	10x	as long as short
GMX BNB/USD [WBTC.b-USDC]	+0.047%	L +0.0030% / S +0.0174%	1h	$54K	—	200x	as long as short
gTrade (Gains Network) BNB/USD	+0.049%	L +0.0008% / S −0.0008%	1h	$9.7M	—	150x	as long as short
StandX BNB-USD	+0.064%	0.0000%	1h	$862K	$3.3M	30x	as long as short
Kraken Futures PF_BNBUSD	+0.076%	+0.0592%	1h	$2.5M	$792K	50x	as long as short

Show all 45 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
RISEx BNB/USDC	+0.078%	+0.0202%	1h	$1.2M	$1.5M	20x	as long as short
edgeX BNBUSDC	+0.083%	+0.0100%	4h	$4.2M	$68.9M	30x	as long as short
Phoenix BNB	+0.086%	+0.0125%	1h	$170K	$29K	10x	as long as short
Hotstuff BNB-PERP	+0.091%	−0.0080%	1h	$4K	$1K	25x	as long as short
HTX BNB-USDT	+0.092%	+0.0100%	8h	$8.1M	$4.4M	75x	as long as short
Aevo BNB-PERP	+0.102%	+0.0104%	1h	$383K	$37K	10x	as long as short
Orderly PERP_BNB_USDC	+0.106%	+0.0100%	8h	$298K	$644K	50x	as long as short
SoDEX BNB-USD	+0.110%	+0.0296%	1h	$392K	$1.0M	10x	as long as short
Derive BNB-PERPshort	+0.129%	+0.0100%	1h	$32K	$5K	10x
Phemex BNBUSDT	+0.131%	+0.0095%	8h	$70.4M	$52.7M	50x	as long as short
SunX BNB-USDT	+0.140%	+0.0100%	8h	$13K	$1.6M	50x	as long as short
dYdX BNB-USD	+0.152%	+0.0643%	1h	$173K	$54K	10x	as long as short
Extended BNB-USD	+0.160%	+0.0104%	1h	$2.0M	$5.8M	50x	as long as short
ApeX Omni BNBUSDT	+0.161%	+0.0100%	1h	$172K	$421K	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.161%	+0.0300%	1h	$1.5M	$151K	25x	as long as short
01 Exchange BNBUSD	+0.166%	+0.0360%	1h	$28K	$1K	10x	as long as short
BloFin BNB-USDT	+0.189%	+0.0220%	8h	$19.1M	$2.9M	75x	as long as short
Bitget BNBUSDT	+0.199%	+0.0100%	8h	$77.0M	$22.2M	75x	as long as short
Injective BNB/USDC PERP	+0.204%	+0.0306%	1h	$19K	$620K	30x	as long as short
KuCoin BNBUSDTM	+0.207%	+0.0100%	8h	$28.3M	$10.2M	75x	as long as short
Kalshi KXBNBPERP	+0.210%	0.0000%	8h	$164K	$2.5M	4.8x	as long as short
Gate BNB_USDT	+0.216%	+0.0100%	8h	$36.2M	$55.0M	75x	as long as short
Bybit BNBUSDT	+0.223%	+0.0039%	8h	$139.4M	$84.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.223%	+0.0100%	8h	$53.6M	$103.7M	50x	as long as short
Pacifica BNB	+0.245%	+0.0100%	1h	$1.2M	$868K	20x	as long as short
Arcus BNB-USD	+0.248%	+0.0100%	1h	$52K	$242K	10x	as long as short
BingX BNB-USDT	+0.248%	+0.0024%	8h	—	$32.9M	—	as long as short
Lighter BNB	+0.267%	+0.0096%	1h	$2.7M	$2.9M	20x	as long as short
Backpack BNB_USDC_PERP	+0.273%	+0.0557%	1h	$2.6M	$2.3M	40x	as long as short
Aster BNBUSDT	+0.297%	+0.0106%	8h	$6.1M	$18.7M	200x	as long as short
Bulk BNB-USD	+0.311%	+0.0451%	1h	$637K	$84K	10x	as long as short
Binance BNBUSDT	+0.324%	+0.0100%	8h	$518.5M	$738.4M	75x	as long as short
Hyperliquid BNB	+0.325%	+0.0539%	1h	$50.7M	$19.9M	10x	as long as short
Paradex BNB-USD-PERP	+0.330%	+0.0100%	8h	$78K	$661K	50x	as long as short
MEXC BNB_USDT	+0.436%	+0.0099%	8h	$84.9M	$15.0M	200x	as long as short