Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0161%/8h= +17.6% APRpaid last 24h +0.038%

Price spread now: Deribit against BingX+0.100%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.100%, 7d avg +0.031%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.069% dearer against BingX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	785.05	0.0039	pay 0.0039% / 8h	2h 41m	—	$13.4M	—
Short	Deribit BNB_USDC-PERPETUAL	785.84	0.0200	get 0.0025% / 1h	41m 30s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.100%Rate

Funding earned: $33.81
Price spread: +0.100% → +0.031%: $6.9
Slippage, 4 orders: −$14.95
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $8.76
Costs to cover: 0.319%
Break-even: 5.2 days

Slippage from BingX: live order book, 7 min ago; Deribit: live order book, 2 min ago.

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 BingX live order book, 7 min ago	0.25 bp	6.9 bp −$7	11.1 bp −$111	23.0 bp −$2,304	68.1 bp −$34.1K
Sell Deribit live order book, 2 min ago	2.86 bp	8.2 bp −$8	12.7 bp −$127	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 −0.0192% / S +0.0356%	1h	784.63	−0.053%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.77	+0.092%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.08	+0.131%	$848K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.70	−0.045%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	785.37	+0.041%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.553%	$19K	$789K	30x	as long as short
BingX BNB-USDClong	+0.0039%	8h	785.05	long leg	—	$13.4M	—
MEXC BNB_USDT	+0.0051%	8h	785.60	+0.070%	$79.6M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	785.39	+0.043%	$489.2M	$805.1M	75x	as long as short
Phemex BNBUSDT	+0.0053%	8h	785.87	+0.104%	$68.8M	$50.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0058%	1h	785.04	−0.001%	$159K	$61K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	785.23	+0.023%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	+0.307%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.24	+0.024%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.52	+0.060%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.70	−0.045%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.34	+0.037%	$51.5M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.17	+0.015%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.80	−0.032%	$137.7M	$74.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.70	−0.045%	$53.3M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.10	+0.006%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.80	−0.032%	$36.1M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.58	−0.060%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.38	−0.085%	$75.9M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.82	+0.098%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.41	+0.174%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.49	+0.183%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.30	+0.159%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.65	−0.051%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.67	+0.079%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.73	+0.086%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.50	+0.057%	$386K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.28	+0.030%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.27	+0.028%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.50	−0.070%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.44	+0.050%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.15	+0.267%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0135%	8h	786.20	+0.146%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	786.34	+0.164%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	785.84	+0.100%	$1.5M	$143K	25x
GRVT BNB_USDT_Perp	+0.0202%	8h	787.62	+0.328%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.150%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	785.40	+0.045%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.51	−0.069%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.23	+0.023%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	785.71	+0.084%	$67K	$39K	12x	as long as short