Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.012%

Price spread now: Phemex against RISEx+0.090%7-day average +0.048% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.153%−$15 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now +0.090%, 7d avg +0.048%

Together, before fees−0.262%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.042% dearer against RISEx than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of +0.048%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BNB/USDC	801.90	0.0258	pay 0.0032% / 1h	42m 36s	$1.1M	$1.4M	20x
Short	Phemex BNBUSDT	802.62	0.0112	get 0.0112% / 8h	42m 36s	$70.2M	$50.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$30.61
Price spread: +0.090% → +0.048%: $4.19
Slippage, 4 orders: −$3.91
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.34
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Phemex: live order book, 2 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, 1 min ago	1.12 bp	4.1 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.75 bp	6.8 bp −$7	7.0 bp −$70	10.5 bp −$1,049	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 −0.0201% / S +0.0372%	1h	802.28	+0.048%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.12	+0.027%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	801.85	−0.006%	$2.6M	$970K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.47	+0.195%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.81	+0.238%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.33	+0.054%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0027%	8h	802.45	+0.069%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0049%	8h	801.83	−0.009%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0059%	8h	801.40	−0.062%	$139.1M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.147%	$607K	$995K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	801.91	+0.001%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.10	+0.025%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.05	+0.019%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.40	−0.062%	$54.6M	$113.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.20	+0.037%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	801.55	−0.044%	$35.9M	$57.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.62	−0.035%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.48	−0.052%	$79.5M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.59	+0.211%	$4.2M	$77.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.34	+0.180%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.29	+0.049%	$117K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.21	+0.039%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.43	+0.066%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.28	+0.172%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	802.20	+0.037%	$394K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.26	+0.045%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.40	+0.063%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0102%	8h	802.56	+0.083%	$6.4M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	801.25	−0.081%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.20	+0.037%	$385K	$40K	10x	as long as short
Phemex BNBUSDTshort	+0.0112%	8h	802.62	+0.090%	$70.2M	$50.9M	50x
Kalshi KXBNBPERP	+0.0115%	8h	802.70	+0.100%	$110K	$2.9M	4.8x	as long as short
Binance BNBUSDT	+0.0123%	8h	802.38	+0.059%	$501.8M	$817.4M	75x	as long as short
MEXC BNB_USDT	+0.0124%	8h	802.60	+0.087%	$83.5M	$13.5M	200x	as long as short
Phoenix BNB	+0.0127%	1h	803.09	+0.148%	$173K	$36K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	802.54	+0.079%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0224%	1h	803.19	+0.161%	$71K	$43K	12x	as long as short
Hyperliquid BNB	+0.0226%	1h	802.56	+0.082%	$52.0M	$21.4M	10x	as long as short
BloFin BNB-USDT	+0.0245%	8h	802.88	+0.122%	$18.2M	$2.5M	75x	as long as short
RISEx BNB/USDClong	+0.0258%	1h	801.90	long leg	$1.1M	$1.4M	20x
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.398%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0309%	1h	803.58	+0.210%	$653K	$20K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.98	+0.010%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0352%	1h	802.40	+0.062%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0367%	1h	802.77	+0.108%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0441%	1h	802.20	+0.037%	$162K	$62K	10x	as long as short