Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.4% APRpaid last 24h −0.001%

Price spread now: Injective against Paradex+2.346%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Injective

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 2.346% dearer against Paradex than usual: you sell high and buy low (spread +2.346% now, against zero (this spread has no 7-day history yet)): +$235 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BNB-USD-PERP	786.64	0.0101	pay 0.0101% / 8h	1h 36m	$78K	$18K	50x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	36m 59s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now +2.346%Rate

Funding earned: −$14.16
Price spread: +2.346% → 0.000%: $234.57
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $216.38
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Paradex and 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 −0.0170% / S +0.0337%	1h	786.02	−0.079%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.49	−0.019%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.63	−0.001%	$848K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.91	−0.092%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+2.346%	$19K	$789K	30x
Aster BNBUSDT	+0.0049%	8h	786.51	−0.017%	$6.0M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0053%	8h	785.97	−0.085%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.00	+0.046%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	786.44	−0.025%	$490.0M	$814.9M	75x	as long as short
dYdX BNB-USD	+0.0065%	1h	785.68	−0.122%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0076%	8h	786.61	−0.004%	$68.8M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.031%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.03	−0.077%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.00	−0.081%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.43	−0.026%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.37	−0.034%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.71	−0.118%	$138.3M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.80	−0.107%	$53.5M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.30	−0.043%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.90	−0.094%	$37.2M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.63	−0.128%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.68	−0.122%	$76.1M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.35	−0.037%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.092%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.30	−0.043%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.60	−0.005%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.98	−0.084%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.14	−0.063%	$264K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.14	−0.063%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.53	−0.013%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.30	−0.043%	$387K	$983K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.25	−0.050%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERPlong	+0.0101%	8h	786.64	long leg	$78K	$18K	50x
Extended BNB-USD	+0.0104%	1h	785.56	−0.137%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.13	−0.065%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.77	+0.017%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	786.60	−0.005%	$171K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0184%	8h	786.49	−0.019%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.55	−0.011%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	785.95	−0.087%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0229%	8h	787.18	+0.069%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	786.67	+0.004%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.057%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	785.81	−0.106%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.40	−0.031%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.12	−0.066%	$67K	$39K	12x	as long as short