Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.009%

Price spread now: Bybit against edgeX−0.363%81s7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as 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−$280.277% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 7 days+0.287%+$29 · spread now −0.363%, 7d avg −0.079%

Together, before fees+0.173%+ Points / potential airdropedgeX: Active · farm board+$17 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 Bybit is 0.285% cheaper against edgeX than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.079%). Swap the legs. The two prices were read 81 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	edgeX BNBUSDC	794.42	0.0100	pay 0.0050% / 4h	2h 54m	$4.1M	$76.1M	30x
Short	Bybit BNBUSDT	791.53	0.0045	get 0.0045% / 8h	6h 54m	$137.7M	$77.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.363%Rate

Funding earned: −$11.6
Price spread: −0.363% → −0.079%: −$28.48
Slippage, 4 orders: −$7.68
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.76
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Bybit: live order book, 5 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 edgeX live order book, 5 min ago	2.52 bp	7.0 bp −$7	7.0 bp −$70	10.3 bp −$1,029	doesn't fit
Sell Bybit live order book, 5 min ago	0.63 bp	6.3 bp −$6	9.0 bp −$90	24.3 bp −$2,425	135.0 bp −$67.5K

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 −0.0161% / S +0.0334%	1h	790.84	−0.450%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	791.78	−0.332%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.59	−0.356%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0031%	8h	791.85	−0.323%	$35.6M	$54.9M	75x	as long as short
dYdX BNB-USD	0.0000%	1h	791.77	−0.333%	$160K	$63K	10x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	794.24	−0.022%	$3.0M	$28.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	792.60	−0.229%	$857K	$3.0M	30x	as long as short
Variational Omni BNB	+0.0006%	8h	791.53	−0.364%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	790.85	−0.449%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	791.54	−0.362%	$6.1M	$19.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.343%	$19K	$789K	30x	as long as short
Bybit BNBUSDTshort	+0.0045%	8h	791.53	−0.363%	$137.7M	$77.1M	75x
BingX BNB-USDC	+0.0045%	8h	791.42	−0.377%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0048%	8h	791.95	−0.311%	$69.2M	$50.4M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.39	−0.381%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	792.50	−0.241%	$82.2M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	792.26	−0.271%	$492.3M	$818.5M	75x	as long as short
Lighter BNB	+0.0096%	1h	791.86	−0.321%	$2.8M	$3.9M	20x	as long as short
Phoenix BNB	+0.0099%	1h	794.51	+0.012%	$171K	$36K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.46	−0.372%	$382K	$468K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.65	−0.474%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	792.62	−0.227%	$52.5M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.94	−0.312%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.70	−0.342%	$53.1M	$110.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.60	−0.355%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.39	−0.381%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.77	−0.333%	$77.6M	$28.5M	75x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	794.42	long leg	$4.1M	$76.1M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	794.47	+0.007%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.07	−0.421%	$112K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.50	−0.367%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.17	−0.283%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.80	−0.329%	$389K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.06	−0.423%	$8.1M	$8.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	791.80	−0.330%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.14	−0.413%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.55	−0.361%	$380K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	791.39	−0.381%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0139%	1h	794.97	+0.070%	$646K	$10K	10x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	791.90	−0.317%	$94K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0183%	8h	792.41	−0.253%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	791.58	−0.357%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.93	−0.313%	$1.5M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	790.71	−0.467%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	792.10	−0.292%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0454%	1h	792.85	−0.197%	$2.7M	$5.7M	40x	as long as short