Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0387%/8h= −42.4% APRpaid last 24h −0.042%

Price spread now: BingX against RISEx−0.017%7-day average +0.016% · 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−$180.176% of the position

Long on RISEx Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.137%−$14 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.017%, 7d avg +0.016%

Together, before fees−0.144%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and BingX is 0.033% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.016%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.137% in total (about -13.7% 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	RISEx BNB/USDC	786.89	0.0432	pay 0.0054% / 1h	16m 39s	$1.1M	$901K	20x
Short	BingX BNB-USDT	786.76	0.0045	get 0.0045% / 8h	2h 16m	—	$22.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against RISEx. 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 RISExbpFee BingXbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$81.35
Price spread: −0.017% → +0.016%: −$3.29
Slippage, 4 orders: −$1.64
Fee RISEx: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$102.28
Costs to cover: 0.176%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; BingX: live order book, 7 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 RISEx live order book, 2 min ago	0.57 bp	3.6 bp −$4	8.5 bp −$85	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	0.13 bp	5.1 bp −$5	6.2 bp −$62	12.7 bp −$1,270	20.2 bp −$10.1K

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	786.23	−0.084%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.83	−0.008%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.061%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.47	−0.053%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.313%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	787.17	+0.036%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDTshort	+0.0045%	8h	786.76	−0.017%	—	$22.2M	—
Phemex BNBUSDT	+0.0056%	8h	787.19	+0.038%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	787.50	+0.078%	$80.5M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	787.20	+0.039%	$490.4M	$812.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.51	−0.048%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.132%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.69	−0.026%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.53	−0.046%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.10	−0.100%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.20	+0.039%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.72	−0.022%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	−0.050%	$138.1M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.050%	$53.5M	$112.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−0.011%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	−0.043%	$36.7M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.26	−0.080%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.31	−0.074%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.91	+0.003%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.137%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.59	−0.039%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.98	+0.011%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.37	−0.066%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.64	−0.032%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.10	+0.027%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.66	−0.029%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.96	+0.009%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−0.083%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.60	−0.037%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	−0.071%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0130%	1h	786.70	−0.024%	$387K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0142%	8h	786.80	−0.011%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0160%	1h	786.37	−0.067%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0181%	8h	787.12	+0.029%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	787.48	+0.075%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.92	+0.004%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.33	+0.056%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.21	−0.087%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.190%	$637K	$4K	10x	as long as short
RISEx BNB/USDClong	+0.0432%	1h	786.89	long leg	$1.1M	$901K	20x
Hibachi BNB/USDT-P	+0.0536%	1h	786.96	+0.009%	$67K	$39K	12x	as long as short