Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0245%/8h= +26.8% APRpaid last 24h +0.027%

Price spread now: Deribit against MEXC−0.101%52s7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as 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−$250.245% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now −0.101%, 7d avg −0.127%

Together, before fees+0.024%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.026% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.127%. The two prices were read 52 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 0.166% in total (about 8.6% 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	MEXC BNB_USDT	787.90	0.0055	pay 0.0055% / 8h	41m 25s	$81.1M	$11.9M	200x
Short	Deribit BNB_USDC-PERPETUAL	787.10	0.0300	get 0.0037% / 1h	41m 25s	$1.5M	$145K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now −0.101%Rate

Funding earned: $51.45
Price spread: −0.101% → −0.127%: $2.55
Slippage, 4 orders: −$13.55
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $29.46
Costs to cover: 0.245%
Break-even: 3.0 days

Slippage from MEXC: live order book, 3 min ago; Deribit: 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 MEXC live order book, 3 min ago	1.90 bp	3.9 bp −$4	6.3 bp −$63	23.2 bp −$2,323	40.6 bp −$20.3K
Sell Deribit live order book, 3 min ago	2.61 bp	6.1 bp −$6	12.2 bp −$122	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 −0.0168% / S +0.0337%	1h	786.65	−0.158%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.89	−0.128%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	786.66	−0.157%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	787.35	−0.070%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.64	−0.160%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.182%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0045%	8h	786.68	−0.155%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0045%	8h	787.19	−0.090%	$6.0M	$18.9M	200x	as long as short
MEXC BNB_USDTlong	+0.0055%	8h	787.90	long leg	$81.1M	$11.9M	200x
Binance BNBUSDT	+0.0055%	8h	787.18	−0.091%	$489.4M	$821.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0058%	1h	786.54	−0.172%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0077%	8h	787.26	−0.081%	$68.8M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.76	−0.145%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	786.90	−0.127%	$169K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.40	−0.190%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.34	−0.071%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.79	−0.141%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.55	−0.171%	$138.4M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.190%	$53.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−0.140%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.65	−0.159%	$38.3M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.30	−0.203%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.39	−0.192%	$76.4M	$31.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.07	−0.105%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	−0.115%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.08	−0.104%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.25	−0.082%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.53	−0.174%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.65	−0.159%	$264K	$426K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.70	−0.152%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.67	−0.155%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.80	−0.140%	$387K	$974K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.59	−0.166%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.09	−0.103%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.19	−0.217%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.72	−0.150%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	786.37	−0.194%	$556K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0114%	8h	786.90	−0.127%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0175%	8h	787.18	−0.091%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0210%	1h	786.98	−0.117%	$638K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	787.62	−0.035%	$2.9M	$28.7M	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	787.12	−0.099%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0300%	1h	787.10	−0.101%	$1.5M	$145K	25x
Reya BNBRUSDPERP	+0.0321%	1h	786.55	−0.172%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.86	−0.132%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.74	−0.148%	$67K	$39K	12x	as long as short