Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.102%

Price spread now: dYdX against BingX−0.009%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.452%+$45 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.009%, 7d avg −0.018%

Together, before fees+0.584%+$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDT	804.35	0.0057	pay 0.0057% / 8h	2h 34m	—	$34.5M	—
Short	dYdX BNB-USD	804.28	0.0269	get 0.0034% / 1h	34m 41s	$170K	$55K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $44.52
Price spread: −0.009% → −0.018%: $0.97
Slippage, 4 orders: −$29.35
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$3.86
Costs to cover: 0.494%
Break-even: 7.6 days

Slippage from BingX: live order book, 9 min ago; dYdX: live order book, 54 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, 9 min ago	0.13 bp	6.1 bp −$6	6.5 bp −$65	11.1 bp −$1,105	22.3 bp −$11.2K
Sell dYdX live order book, 54 min ago	12.60 bp	19.2 bp −$19	63.6 bp −$636	96.8 bp −$9,684	323.0 bp −$161.5K

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	803.47	−0.110%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.57	+0.027%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.19	−0.020%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.80	−0.068%	$111K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	−0.053%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.49	−0.107%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.67	−0.085%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0051%	8h	802.62	−0.215%	$4.0M	$5.3M	—	as long as short
BingX BNB-USDTlong	+0.0057%	8h	804.35	long leg	—	$34.5M	—
Bybit BNBUSDT	+0.0077%	8h	803.90	−0.056%	$139.4M	$82.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0087%	8h	804.59	+0.029%	$6.4M	$18.8M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	−0.045%	$608K	$877K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.23	−0.014%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.12	−0.153%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.47	+0.014%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.30	−0.006%	$55.1M	$115.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.30	−0.006%	$52K	$162K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.15	−0.025%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.95	−0.050%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.95	−0.050%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.02	−0.165%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.17	−0.022%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.39	−0.119%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	803.55	−0.099%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.64	−0.088%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.90	−0.056%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.35	−0.124%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.00	+0.081%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.05	−0.038%	$1.9M	$6.1M	50x	as long as short
MEXC BNB_USDT	+0.0104%	8h	805.30	+0.118%	$84.4M	$13.6M	200x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.69	−0.082%	$386K	$40K	10x	as long as short
Binance BNBUSDT	+0.0105%	8h	804.91	+0.070%	$519.2M	$802.9M	75x	as long as short
Phemex BNBUSDT	+0.0124%	8h	804.15	−0.025%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.30	−0.131%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0140%	1h	803.60	−0.093%	$395K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0151%	1h	804.57	+0.027%	$51.7M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0194%	1h	803.61	−0.092%	$649K	$11K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	804.00	−0.044%	$1.6M	$165K	25x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.54	+0.024%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0225%	8h	804.34	−0.001%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.30	−0.130%	$71K	$48K	12x	as long as short
dYdX BNB-USDshort	+0.0269%	1h	804.28	−0.009%	$170K	$55K	10x
01 Exchange BNBUSD	+0.0320%	1h	805.08	+0.091%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.30	−0.131%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.071%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0668%	1h	804.78	+0.053%	$3.0M	$5.4M	40x	as long as short