Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.004%

Price spread now: Derive against MEXC−0.056%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Derive is 0.056% cheaper against MEXC than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 6.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	790.20	0.0069	pay 0.0069% / 8h	4h 51m	$80.2M	$12.2M	200x
Short	Derive BNB-PERP	789.75	0.0100	get 0.0013% / 1h	51m 44s	$31K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.056%Rate

Funding earned: $6.51
Price spread: −0.056% → 0.000%: −$5.65
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Derive: 3 bp × 2 orders: −$6
Net: −$9.14
Costs to cover: 0.100%
Break-even: 16.8 days

Slippage unknown: MEXC: live order book, 2 min ago; Derive: no order-book sample. Net counts fees only.

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, 2 min ago	1.26 bp	3.3 bp −$3	7.7 bp −$77	26.0 bp −$2,600	43.7 bp −$21.8K
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0183% / S +0.0348%	1h	789.59	−0.077%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.04	−0.020%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.25	+0.133%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.65	−0.069%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.884%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0044%	8h	790.00	−0.025%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0056%	8h	789.51	−0.087%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.056%	$583K	$1.9M	50x	as long as short
Phemex BNBUSDT	+0.0068%	8h	790.26	+0.008%	$69.2M	$49.9M	50x	as long as short
Binance BNBUSDT	+0.0068%	8h	789.96	−0.030%	$492.9M	$789.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDTlong	+0.0069%	8h	790.20	long leg	$80.2M	$12.2M	200x
Lighter BNB	+0.0096%	1h	789.56	−0.082%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.65	−0.070%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.05	−0.019%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.07	−0.016%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.56	−0.081%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.18	−0.129%	$138.8M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.20	−0.127%	$53.3M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	−0.076%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.35	−0.108%	$35.4M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.25	−0.120%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.97	−0.156%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.37	+0.022%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	790.82	+0.078%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.43	+0.155%	$4.1M	$74.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.18	−0.003%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.60	−0.076%	$133K	$950K	10x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	789.75	−0.056%	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	790.13	−0.008%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.90	−0.038%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.76	+0.071%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.08	−0.015%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.99	−0.154%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.65	−0.070%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0108%	1h	789.76	−0.056%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	791.15	+0.120%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	790.47	+0.034%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0184%	8h	790.70	+0.063%	$113K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0190%	8h	791.19	+0.125%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.92	−0.035%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.44	−0.096%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.182%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.06	−0.018%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	789.35	−0.107%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.76	−0.056%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	790.81	+0.077%	$68K	$38K	12x	as long as short