Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0300%/8h= +32.8% APRpaid last 24h +0.018%

Price spread now: Deribit against edgeX+0.134%75s7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as 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−$290.291% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)−0.490%−$49 · spread now +0.134%, 7d avg −0.024%

Together, before fees−0.390%+ Points / potential airdropedgeX: Active · farm board−$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.158% dearer against edgeX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.024%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	788.50	0.0100	pay 0.0050% / 4h	1h 42m	$4.1M	$77.0M	30x
Short	Deribit BNB_USDC-PERPETUAL	789.56	0.0400	get 0.0050% / 1h	42m 08s	$1.5M	$152K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.134%Rate

Funding earned: $63
Price spread: +0.134% → −0.024%: $15.77
Slippage, 4 orders: −$13.15
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $49.63
Costs to cover: 0.291%
Break-even: 1.5 days

Slippage from edgeX: live order book, 2 min ago; Deribit: live order book, 2 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, 2 min ago	2.53 bp	7.0 bp −$7	7.0 bp −$70	11.8 bp −$1,180	doesn't fit
Sell Deribit live order book, 2 min ago	2.22 bp	7.2 bp −$7	13.1 bp −$131	doesn't fit	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 −0.0167% / S +0.0335%	1h	789.07	+0.072%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.72	+0.028%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.67	+0.148%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.09	+0.075%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.104%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	789.76	+0.160%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.09	+0.075%	$618K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	789.11	+0.077%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0069%	8h	789.64	+0.145%	$69.1M	$50.9M	50x	as long as short
MEXC BNB_USDT	+0.0073%	8h	789.90	+0.177%	$80.3M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0075%	8h	789.14	+0.081%	$493.5M	$806.4M	75x	as long as short
Variational Omni BNB	+0.0078%	8h	787.81	−0.087%	$4.1M	$4.7M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.23	+0.092%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.35	+0.108%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.07	+0.072%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.15	+0.082%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.35	+0.108%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.64	+0.145%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.32	−0.023%	$138.6M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.80	+0.038%	$53.5M	$112.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.50	+0.127%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.90	+0.051%	$35.3M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.15	+0.082%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.86	+0.046%	$76.9M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.06	+0.071%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	788.50	long leg	$4.1M	$77.0M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	788.65	+0.019%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.16	+0.084%	$137K	$946K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.31	+0.103%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.87	+0.174%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.22	+0.092%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	790.08	+0.200%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.74	+0.030%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.13	+0.079%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.34	−0.020%	$169K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0122%	8h	788.59	+0.012%	$2.9M	$28.3M	10x	as long as short
SoDEX BNB-USD	+0.0166%	1h	789.20	+0.089%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.60	+0.139%	$95K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0193%	8h	789.60	+0.139%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0239%	1h	788.96	+0.058%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	789.99	+0.189%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	789.00	+0.063%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.68	+0.150%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.057%	$638K	$13K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0400%	1h	789.56	+0.134%	$1.5M	$152K	25x
Hibachi BNB/USDT-P	+0.0576%	1h	788.44	−0.008%	$67K	$38K	12x	as long as short