Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.003%

Price spread now: Injective against MEXC+2.338%7-day average −0.392% · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 4 days (all we have)−3.151%−$315 · spread now +2.338%, 7d avg −0.392%

Together, before fees−3.259%−$326 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Injective is 2.729% dearer against MEXC than usual: you sell high and buy low, +$273 on $10k if it goes back to its 7-day average of −0.392%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	786.70	0.0041	pay 0.0041% / 8h	3h 08m	$79.7M	$12.1M	200x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	8m 29s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +2.338%Rate

Funding earned: −$1.61
Price spread: +2.338% → −0.392%: $272.93
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $267.3
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 6 min ago; Injective: 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, 6 min ago	0.63 bp	3.9 bp −$4	10.3 bp −$103	26.2 bp −$2,620	42.8 bp −$21.4K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0192% / S +0.0356%	1h	785.53	−0.149%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0125%	1h	785.57	−0.144%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.09	−0.078%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	786.70	0.000%	$122K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.52	+0.104%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.63	−0.135%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0021%	8h	786.26	−0.056%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0033%	8h	785.78	−0.117%	—	$22.3M	—	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+2.338%	$19K	$789K	30x
MEXC BNB_USDTlong	+0.0041%	8h	786.70	long leg	$79.7M	$12.1M	200x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0041%	8h	786.40	−0.038%	$489.5M	$803.7M	75x	as long as short
Phemex BNBUSDT	+0.0041%	8h	786.11	−0.075%	$68.8M	$50.8M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	788.00	+0.165%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0079%	1h	785.90	−0.101%	$159K	$61K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.74	+0.132%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	785.76	−0.119%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.58	−0.142%	$264K	$491K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.30	−0.178%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.47	−0.029%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.05	−0.082%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.60	−0.140%	$138.0M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.70	−0.127%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.00	−0.089%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.65	−0.133%	$36.0M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.31	−0.177%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.60	−0.140%	$76.0M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.11	−0.075%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	+0.039%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.75	+0.133%	$4.1M	$74.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.52	+0.104%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.64	−0.135%	$131K	$956K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.63	−0.137%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.25	−0.057%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	−0.127%	$386K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.97	−0.093%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.08	−0.079%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.40	−0.165%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.61	−0.138%	$377K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0161%	8h	786.39	−0.039%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0178%	8h	787.99	+0.165%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0201%	1h	787.88	+0.150%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	786.47	−0.029%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.00	−0.090%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.69	−0.128%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0431%	1h	786.02	−0.086%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	785.94	−0.096%	$67K	$39K	12x	as long as short