Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0397%/8h= +43.5% APRpaid last 24h +0.022%

Price spread now: RISEx against Phemex−0.048%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.155%+$16 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.048%, 7d avg −0.047%

Together, before fees+0.312%+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	789.94	0.0063	pay 0.0063% / 8h	4h 23m	$69.1M	$49.9M	50x
Short	RISEx BNB/USDC	789.56	0.0461	get 0.0058% / 1h	23m 57s	$1.1M	$967K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Phemex. 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 PhemexbpFee RISExbpOrdersPrice spread, now −0.048%Rate

Funding earned: $83.44
Price spread: −0.048% → −0.047%: −$0.13
Slippage, 4 orders: −$3.33
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $61.98
Costs to cover: 0.213%
Break-even: 1.8 days

Slippage from Phemex: live order book, 5 min ago; RISEx: live order book, 5 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 Phemex live order book, 5 min ago	1.01 bp	7.1 bp −$7	7.1 bp −$71	11.0 bp −$1,099	doesn't fit
Sell RISEx live order book, 5 min ago	0.51 bp	3.5 bp −$4	7.7 bp −$77	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 −0.0187% / S +0.0351%	1h	789.27	−0.084%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.89	−0.006%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.60	−0.043%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.29	−0.082%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.918%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	789.87	−0.009%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0053%	8h	789.46	−0.061%	—	$34.4M	—	as long as short
Phemex BNBUSDTlong	+0.0063%	8h	789.94	long leg	$69.1M	$49.9M	50x
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.062%	$582K	$1.9M	50x	as long as short
Binance BNBUSDT	+0.0064%	8h	789.96	+0.002%	$493.3M	$790.6M	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_USDT	+0.0065%	8h	790.20	+0.033%	$80.2M	$12.4M	200x	as long as short
Lighter BNB	+0.0096%	1h	789.47	−0.060%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.36	−0.073%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.45	−0.062%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.94	0.000%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.52	−0.053%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.30	−0.081%	$138.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.30	−0.081%	$53.4M	$111.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	−0.043%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.30	−0.081%	$35.5M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.26	−0.086%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.06	−0.111%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.72	−0.028%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.00	−0.118%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.13	+0.024%	$4.1M	$73.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.94	0.000%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.19	−0.095%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.43	−0.064%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.96	+0.003%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.50	−0.056%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.38	−0.071%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.13	+0.024%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.04	−0.113%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.23	−0.090%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	791.77	+0.232%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0134%	1h	789.35	−0.075%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0145%	8h	790.08	+0.018%	$2.9M	$28.5M	10x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	790.10	+0.020%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	790.17	+0.029%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.024%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.94	0.000%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.28	−0.083%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.76	−0.022%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	789.05	−0.113%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	789.56	−0.048%	$67K	$38K	12x	as long as short
RISEx BNB/USDCshort	+0.0461%	1h	789.56	−0.048%	$1.1M	$967K	20x