Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h −0.048%

Price spread now: Hotstuff against Variational Omni+0.172%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Hotstuff

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 airdropVariational Omni: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.172% dearer against Variational Omni than usual: you sell high and buy low (spread +0.172% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	803.71	0.0049	pay 0.0049% / 8h	2h 27m	$4.0M	$5.4M	—
Short	Hotstuff BNB-PERP	805.10	−0.0080	pay 0.0010% / 1h	27m 20s	$4K	$1K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HotstuffbpOrdersPrice spread, now +0.172%Rate

Funding earned: −$27.01
Price spread: +0.172% → 0.000%: $17.25
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$14.76
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Hotstuff: no order-book sample. 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, 2 min ago	3.32 bp	doesn't fit	5.8 bp −$58	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 −0.0195% / S +0.0371%	1h	805.07	+0.169%	$49K	—	200x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	805.10	+0.172%	$4K	$1K	25x
GRVT BNB_USDT_Perp	0.0000%	8h	804.60	+0.111%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.90	+0.148%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.43	+0.089%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.12	+0.175%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.53	+0.102%	$2.5M	$909K	50x	as long as short
Variational Omni BNBlong	+0.0049%	8h	803.71	long leg	$4.0M	$5.4M	—
BingX BNB-USDT	+0.0052%	8h	805.20	+0.185%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0075%	8h	804.72	+0.125%	$139.6M	$82.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	804.19	+0.059%	$609K	$878K	50x	as long as short
Aster BNBUSDT	+0.0091%	8h	805.60	+0.235%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	804.84	+0.140%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.71	+0.124%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.97	+0.157%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.90	+0.148%	$55.1M	$115.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.10	+0.172%	$53K	$165K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.95	+0.154%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.74	+0.128%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.88	+0.145%	$79.2M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.62	+0.112%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.73	+0.126%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.89	+0.146%	$119K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.15	+0.179%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.32	+0.200%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.61	+0.235%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.69	+0.246%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.24	+0.066%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.68	+0.244%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.61	+0.112%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.23	+0.189%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0107%	8h	806.00	+0.284%	$84.5M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0109%	8h	805.80	+0.260%	$519.9M	$803.4M	75x	as long as short
Phemex BNBUSDT	+0.0125%	8h	805.04	+0.165%	$70.2M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	804.63	+0.114%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0167%	1h	805.64	+0.240%	$51.7M	$21.3M	10x	as long as short
SoDEX BNB-USD	+0.0190%	1h	805.20	+0.185%	$396K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0197%	1h	804.34	+0.078%	$650K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.28	+0.195%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0227%	8h	804.67	+0.119%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	804.39	+0.084%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0273%	1h	804.28	+0.070%	$170K	$55K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.66	+0.118%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	805.88	+0.270%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.146%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0651%	1h	805.46	+0.217%	$3.0M	$5.4M	40x	as long as short