Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.023%

Price spread now: BingX against Arcus−0.094%7-day average −0.076% · 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−$30as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Arcus Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.094%, 7d avg −0.076%

Together, before fees−0.095%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.076%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BNB-USD	787.00	0.0100	pay 0.0013% / 1h	55m 59s	$52K	$124K	10x
Short	BingX BNB-USDT	786.26	0.0019	get 0.0019% / 8h	6h 55m	—	$22.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Arcus. 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 ArcusbpFee BingXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$17.01
Price spread: −0.094% → −0.076%: −$1.77
Slippage, 4 orders: −$13.84
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.13
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Arcus: live order book, 37 min ago; BingX: live order book, 8 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 Arcus live order book, 37 min ago	3.82 bp	8.6 bp −$9	26.2 bp −$262	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.13 bp	5.1 bp −$5	5.1 bp −$51	5.9 bp −$586	9.1 bp −$4,537

BNB on 45 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 −0.0166% / S +0.0336%	1h	786.60	−0.050%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.53	+0.067%	$4K	—	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	788.33	+0.169%	$2.9M	$26.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	788.05	+0.133%	$850K	$2.8M	30x	as long as short
Aster BNBUSDT	+0.0006%	8h	786.43	−0.072%	$6.0M	$17.7M	200x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.53	+0.067%	$9.5M	—	150x	as long as short
BingX BNB-USDTshort	+0.0019%	8h	786.26	−0.094%	—	$22.3M	—
MEXC BNB_USDT	+0.0025%	8h	788.10	+0.140%	$82.8M	$11.7M	200x	as long as short
Binance BNBUSDT	+0.0025%	8h	786.28	−0.091%	$481.8M	$796.3M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.299%	$19K	$789K	30x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0035%	1h	786.51	−0.063%	$2.5M	$1.2M	50x	as long as short
Phemex BNBUSDT	+0.0081%	8h	787.03	+0.004%	$68.4M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.70	−0.039%	$2.7M	$3.4M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.00	0.000%	$1.4M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.87	−0.017%	$51.7M	$17.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.12	+0.015%	$1.2M	$940K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.60	−0.178%	$138.5M	$70.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.60	−0.178%	$53.6M	$107.3M	50x	as long as short
Arcus BNB-USDlong	+0.0100%	1h	787.00	long leg	$52K	$124K	10x
Gate BNB_USDT	+0.0100%	8h	786.10	−0.114%	$39.9M	$53.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.34	−0.084%	$27.8M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.73	−0.161%	$75.5M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.84	−0.020%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.30	+0.039%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.88	+0.112%	$4.1M	$77.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.09	+0.139%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.88	−0.015%	$130K	$914K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.63	−0.047%	$264K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.10	+0.013%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	−0.038%	$387K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.66	−0.044%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.35	+0.044%	$78K	$312K	50x	as long as short
BloFin BNB-USDT	+0.0102%	8h	787.65	+0.083%	$17.6M	$2.3M	75x	as long as short
Kalshi KXBNBPERP	+0.0102%	8h	787.40	+0.051%	$168K	$2.5M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	786.17	−0.105%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.56	−0.056%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0120%	1h	787.71	+0.090%	$158K	$45K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0136%	1h	787.77	+0.098%	$550K	$1.9M	50x	as long as short
Bulk BNB-USD	+0.0186%	1h	787.44	+0.055%	$638K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.97	−0.004%	$1.5M	$136K	25x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	787.19	+0.024%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	786.13	−0.110%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0345%	1h	787.01	+0.001%	$1.1M	$896K	20x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	787.33	+0.042%	$67K	$38K	12x	as long as short
dYdX BNB-USD	+0.0518%	1h	787.36	+0.046%	$158K	$42K	10x	as long as short