Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0061%/8h= −6.6% APRpaid last 24h −0.088%

Price spread now: edgeX against dYdX+0.028%51s7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.646% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.417%−$42 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now +0.028%, 7d avg +0.079%

Together, before fees−0.296%+ Points / potential airdropedgeX: Active · farm board−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.051% cheaper against dYdX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.079%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	786.37	0.0161	pay 0.0020% / 1h	18m 39s	$159K	$62K	10x
Short	edgeX BNBUSDC	786.59	0.0100	get 0.0050% / 4h	2h 18m	$4.1M	$75.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$12.72
Price spread: +0.028% → +0.079%: −$5.14
Slippage, 4 orders: −$45.6
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$82.47
Costs to cover: 0.646%
Break-even: never at this rate

Slippage from dYdX: live order book, 30 min ago; edgeX: live order book, just now.

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 dYdX live order book, 30 min ago	11.80 bp	26.3 bp −$26	147.9 bp −$1,479	224.5 bp −$22.5K	443.5 bp −$221.8K
Sell edgeX live order book, just now	1.91 bp	6.4 bp −$6	6.4 bp −$64	10.3 bp −$1,030	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	786.64	+0.035%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.19	+0.105%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.128%	$849K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.71	+0.044%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.381%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	787.01	+0.082%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0045%	8h	786.56	+0.025%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0052%	8h	787.29	+0.117%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	787.30	+0.119%	$80.4M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	787.02	+0.083%	$490.3M	$812.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.73	+0.046%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.066%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.61	+0.031%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.76	+0.050%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	+0.036%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.10	+0.093%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.79	+0.054%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.46	+0.012%	$138.1M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	+0.004%	$53.4M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.042%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	+0.011%	$36.6M	$59.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.14	−0.029%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.08	−0.036%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.17	+0.102%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.070%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	786.59	+0.028%	$4.1M	$75.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	785.20	−0.148%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.65	+0.036%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.97	+0.077%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.36	+0.126%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.76	+0.050%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.83	+0.059%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.05	−0.040%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.02	+0.083%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	−0.005%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0128%	1h	786.80	+0.055%	$387K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0144%	8h	787.00	+0.081%	$161K	$2.7M	4.8x	as long as short
dYdX BNB-USDlong	+0.0161%	1h	786.37	long leg	$159K	$62K	10x
BloFin BNB-USDT	+0.0180%	8h	787.41	+0.133%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0211%	8h	785.17	−0.152%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.16	+0.101%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.55	+0.024%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.124%	$637K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	787.25	+0.113%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.74	+0.048%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	786.48	+0.015%	$67K	$39K	12x	as long as short