Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0361%/8h= −39.5% APRpaid last 24h −0.027%

Price spread now: Bybit against RISEx−0.103%7-day average −0.032% · 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−$28as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.156%−$16 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.103%, 7d avg −0.032%

Together, before fees−0.120%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bybit is 0.071% cheaper against RISEx than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BNB/USDC	789.11	0.0461	pay 0.0058% / 1h	48m 37s	$1.1M	$975K	20x
Short	Bybit BNBUSDT	788.30	0.0100	get 0.0100% / 8h	4h 48m	$138.6M	$74.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$75.73
Price spread: −0.103% → −0.032%: −$7.1
Slippage, 4 orders: −$3.42
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$103.24
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Bybit: 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 RISEx live order book, 5 min ago	1.01 bp	4.1 bp −$4	7.7 bp −$77	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.63 bp	6.1 bp −$6	9.8 bp −$98	27.1 bp −$2,707	110.4 bp −$55.2K

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	788.66	−0.057%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.25	+0.018%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.15	+0.132%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.66	−0.056%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.025%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0042%	8h	789.20	+0.012%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0056%	8h	788.68	−0.054%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.194%	$583K	$1.9M	50x	as long as short
Binance BNBUSDT	+0.0067%	8h	789.04	−0.009%	$492.3M	$789.6M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	789.20	+0.012%	$80.1M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0072%	8h	789.36	+0.032%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.71	−0.050%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.71	−0.051%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.85	−0.033%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.20	+0.012%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.75	−0.046%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	788.30	−0.103%	$138.6M	$74.9M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	−0.090%	$53.3M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	−0.014%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.55	−0.071%	$35.4M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.65	−0.058%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.27	−0.106%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.00	−0.014%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	0.000%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.98	+0.237%	$4.1M	$74.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.75	+0.081%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.65	−0.058%	$133K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.77	−0.043%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.44	+0.042%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.80	−0.039%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.95	+0.107%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.23	+0.015%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.09	−0.130%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.76	−0.044%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0110%	1h	789.06	−0.006%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.37	+0.160%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0138%	8h	791.19	+0.264%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.80	+0.088%	$113K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0188%	8h	789.53	+0.053%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.25	+0.018%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.60	−0.064%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.321%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.06	−0.006%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.40	−0.089%	$6K	$3K	40x	as long as short
RISEx BNB/USDClong	+0.0461%	1h	789.11	long leg	$1.1M	$975K	20x
Hibachi BNB/USDT-P	+0.0536%	1h	789.67	+0.071%	$67K	$38K	12x	as long as short