Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.018%

Price spread now: SoDEX against BingX−0.041%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$210.209% of the position

Long on BingX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now −0.041%, 7d avg +0.002%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.043% cheaper against BingX than usual: you would sell low and buy high (spread −0.041% now, against its 7-day average of +0.002%). If the spread goes back, that is −$4 on $10k: about 3.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDT	788.72	0.0054	pay 0.0054% / 8h	4h 47m	—	$34.3M	—
Short	SoDEX BNB-USD	788.40	0.0100	get 0.0013% / 1h	47m 35s	$388K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $9.58
Price spread: −0.041% → +0.002%: −$4.3
Slippage, 4 orders: −$2.86
Fee BingX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$15.59
Costs to cover: 0.209%
Break-even: 18.4 days

Slippage from BingX: live order book, 6 min ago; SoDEX: live order book, 1 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, 6 min ago	0.13 bp	5.5 bp −$6	6.5 bp −$65	13.3 bp −$1,334	36.3 bp −$18.2K
Sell SoDEX live order book, 1 min ago	0.63 bp	4.6 bp −$5	8.2 bp −$82	75.3 bp −$7,531	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 −0.0183% / S +0.0348%	1h	788.36	−0.046%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.72	0.000%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.37	+0.082%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.41	−0.039%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.076%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	788.79	+0.008%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDTlong	+0.0054%	8h	788.72	long leg	—	$34.3M	—
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.243%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	789.30	+0.074%	$80.1M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	789.24	+0.066%	$492.4M	$789.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0071%	8h	788.95	+0.029%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.49	−0.029%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	−0.034%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	−0.091%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.87	+0.018%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.67	−0.006%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.041%	$138.7M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	−0.041%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	+0.036%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.65	−0.009%	$35.3M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.16	−0.071%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.39	−0.042%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.87	+0.019%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	+0.050%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.39	+0.085%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.41	+0.087%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.43	−0.037%	$133K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.51	−0.026%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.02	+0.038%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USDshort	+0.0100%	1h	788.40	−0.041%	$388K	$1.0M	10x
HTX BNB-USDT	+0.0100%	8h	788.96	+0.030%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.37	+0.083%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.21	−0.065%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.51	−0.027%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0114%	1h	788.41	−0.040%	$159K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.37	+0.209%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0134%	8h	789.57	+0.108%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.20	+0.061%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0188%	8h	789.53	+0.103%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.48	+0.096%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.14	−0.073%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.370%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.69	−0.003%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.10	−0.079%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.17	+0.057%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	789.02	+0.038%	$67K	$38K	12x	as long as short