Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0090%/8h= −9.8% APRpaid last 24h −0.047%

Price spread now: MEXC against Bulk+0.086%7-day average +0.080% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$140.141% of the position

Long on Bulk Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.238%−$24 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.086%, 7d avg +0.080%

Together, before fees−0.280%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.080%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	803.61	0.0194	pay 0.0024% / 1h	35m 36s	$649K	$11K	10x
Short	MEXC BNB_USDT	804.30	0.0104	get 0.0104% / 8h	2h 35m	$84.3M	$13.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bulk. 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 BulkbpFee MEXCbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$18.82
Price spread: +0.086% → +0.080%: $0.6
Slippage, 4 orders: −$3.14
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$32.36
Costs to cover: 0.141%
Break-even: never at this rate

Slippage from Bulk: live order book, 53 min ago; MEXC: live order book, 3 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 Bulk live order book, 53 min ago	0.31 bp	3.8 bp −$4	4.4 bp −$44	7.8 bp −$780	21.5 bp −$10.8K
Sell MEXC live order book, 3 min ago	0.62 bp	3.8 bp −$4	6.4 bp −$64	17.7 bp −$1,774	33.0 bp −$16.5K

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	802.98	−0.078%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.52	−0.011%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.19	+0.072%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.60	−0.001%	$111K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.039%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.99	−0.078%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.13	−0.060%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0055%	8h	802.35	−0.156%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0062%	8h	803.30	−0.039%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0077%	8h	802.98	−0.078%	$139.3M	$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	803.94	+0.041%	$6.4M	$18.8M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.047%	$608K	$878K	50x	as long as short
Lighter BNB	+0.0096%	1h	803.41	−0.025%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.12	−0.061%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.56	−0.006%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.40	−0.026%	$55.1M	$115.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.70	+0.011%	$52K	$162K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	803.15	−0.057%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.08	−0.066%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.20	−0.051%	$79.0M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.02	−0.073%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.17	+0.070%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.39	−0.027%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	803.04	−0.071%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.09	−0.064%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.59	−0.002%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.49	−0.016%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.29	−0.039%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.04	+0.054%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.03	−0.073%	$1.9M	$6.1M	50x	as long as short
MEXC BNB_USDTshort	+0.0104%	8h	804.30	+0.086%	$84.3M	$13.6M	200x
Aevo BNB-PERP	+0.0104%	1h	803.19	−0.052%	$386K	$40K	10x	as long as short
Binance BNBUSDT	+0.0105%	8h	804.15	+0.067%	$518.7M	$802.8M	75x	as long as short
Phemex BNBUSDT	+0.0125%	8h	803.65	+0.005%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.30	−0.039%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0129%	1h	803.10	−0.063%	$395K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0148%	1h	803.85	+0.030%	$51.6M	$21.3M	10x	as long as short
Bulk BNB-USDlong	+0.0194%	1h	803.61	long leg	$649K	$11K	10x
RISEx BNB/USDC	+0.0209%	1h	803.77	+0.020%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0223%	8h	804.26	+0.081%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.30	−0.038%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0267%	1h	803.57	−0.005%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	804.29	+0.085%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.30	−0.039%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.163%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0669%	1h	804.06	+0.056%	$3.0M	$5.4M	40x	as long as short