Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.017%

Price spread now: BingX against SoDEX−0.041%7-day average −0.007% · 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−$27as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on SoDEX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.041%, 7d avg −0.007%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BingX is 0.034% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	786.70	0.0128	pay 0.0016% / 1h	17m 50s	$387K	$993K	10x
Short	BingX BNB-USDC	786.38	0.0042	get 0.0042% / 8h	2h 17m	—	$13.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SoDEX. 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 SoDEXbpFee BingXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$18.05
Price spread: −0.041% → −0.007%: −$3.41
Slippage, 4 orders: −$5.22
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$44.69
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from SoDEX: live order book, 41 min ago; BingX: 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 SoDEX live order book, 41 min ago	0.64 bp	5.3 bp −$5	9.0 bp −$90	85.3 bp −$8,533	doesn't fit
Sell BingX live order book, 5 min ago	0.25 bp	7.5 bp −$8	12.0 bp −$120	24.5 bp −$2,448	65.9 bp −$33.0K

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	786.41	−0.037%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.19	+0.062%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.085%	$849K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.53	−0.021%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.338%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	786.81	+0.014%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDCshort	+0.0042%	8h	786.38	−0.041%	—	$13.4M	—
Phemex BNBUSDT	+0.0055%	8h	787.13	+0.055%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	787.20	+0.064%	$80.4M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	786.85	+0.019%	$490.2M	$812.5M	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	786.55	−0.019%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.108%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.81	+0.014%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.63	−0.009%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	−0.044%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.05	+0.044%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.79	+0.012%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.24	−0.058%	$138.1M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.051%	$53.4M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	0.000%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.35	−0.044%	$36.6M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.35	−0.044%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.95	−0.095%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.85	+0.019%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.113%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.59	−0.015%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.20	−0.191%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.46	−0.031%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.81	+0.014%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.99	+0.037%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.31	−0.050%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.83	+0.017%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.05	−0.083%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.14	+0.055%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	−0.047%	$169K	$35K	10x	as long as short
SoDEX BNB-USDlong	+0.0128%	1h	786.70	long leg	$387K	$993K	10x
Kalshi KXBNBPERP	+0.0142%	8h	786.80	+0.013%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0161%	1h	786.37	−0.042%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0180%	8h	787.41	+0.090%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0211%	8h	785.17	−0.194%	$2.9M	$29.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.09	+0.050%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.16	+0.058%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.31	−0.050%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.166%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.74	+0.005%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	786.48	−0.028%	$67K	$39K	12x	as long as short