Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.047%

Price spread now: Backpack against SunX−0.010%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$560.561% of the position

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.010%, 7d avg −0.018%

Together, before fees+0.252%+$25 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	791.62	0.0100	pay 0.0100% / 8h	4h 31m	$12K	$1.5M	50x
Short	Backpack BNB_USDC_PERP	791.54	0.0100	get 0.0013% / 1h	31m 31s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.018%: $0.84
Slippage, 4 orders: −$38.1
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$55.26
Costs to cover: 0.561%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Backpack: live order book, 3 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 SunX live order book, 3 min ago	15.07 bp	21.9 bp −$22	29.4 bp −$294	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.06 bp	5.8 bp −$6	7.3 bp −$73	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 −0.0185% / S +0.0350%	1h	791.01	−0.077%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.41	−0.026%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.14	−0.061%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.96	−0.084%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.702%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	792.00	+0.048%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0053%	8h	791.03	−0.074%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	791.74	+0.015%	$69.3M	$49.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.274%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	792.50	+0.111%	$80.4M	$12.3M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0066%	8h	792.24	+0.078%	$494.5M	$788.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	791.67	+0.007%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.12	−0.063%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.45	−0.021%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.86	+0.030%	$52.0M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.83	+0.027%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.40	−0.028%	$139.2M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.50	−0.015%	$53.5M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.80	+0.023%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.40	−0.028%	$35.5M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.44	−0.023%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.19	−0.054%	$76.5M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	791.54	−0.010%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	788.01	−0.456%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.56	−0.261%	$4.1M	$73.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.95	−0.085%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.95	−0.085%	$134K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.16	−0.059%	$31K	$12K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	791.62	long leg	$12K	$1.5M	50x
SoDEX BNB-USD	+0.0100%	1h	791.20	−0.053%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.11	−0.065%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	792.04	+0.053%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.19	−0.054%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.09	−0.067%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.61	−0.254%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0133%	1h	791.21	−0.052%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0139%	8h	789.87	−0.221%	$2.9M	$28.3M	10x	as long as short
Kalshi KXBNBPERP	+0.0180%	8h	791.60	−0.002%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	791.14	−0.061%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	792.23	+0.077%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0245%	1h	789.82	−0.227%	$640K	$9K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	791.10	−0.066%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.56	−0.008%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	790.65	−0.123%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	790.70	−0.116%	$68K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	791.92	+0.038%	$1.1M	$973K	20x	as long as short