Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.003%

Price spread now: Injective against Binance+2.272%7-day average −0.273% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 4 days (all we have)−2.882%−$288 · spread now +2.272%, 7d avg −0.273%

Together, before fees−2.979%−$298 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.545% dearer against Binance than usual: you sell high and buy low (spread +2.272% now, against its 7-day average of −0.273%): +$254 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	787.20	0.0067	pay 0.0067% / 8h	1h 55m	$490.1M	$816.1M	75x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	55m 11s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +2.272%Rate

Funding earned: −$7.15
Price spread: +2.272% → −0.273%: $254.48
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $237.31
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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 Binance live order book, 4 min ago	0.06 bp	5.1 bp −$5	5.6 bp −$56	14.4 bp −$1,435	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	786.51	−0.089%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	+0.115%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.66	+0.058%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.56	−0.082%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+2.272%	$19K	$789K	30x
Aster BNBUSDT	+0.0046%	8h	787.21	0.000%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	786.70	−0.064%	—	$22.2M	—	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.60	+0.050%	$80.9M	$11.9M	200x	as long as short
Binance BNBUSDTlong	+0.0067%	8h	787.20	long leg	$490.1M	$816.1M	75x
Phemex BNBUSDT	+0.0069%	8h	787.24	+0.004%	$68.9M	$51.0M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0072%	1h	787.10	−0.013%	$159K	$62K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.149%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.71	−0.063%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.64	−0.072%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	−0.070%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.98	−0.029%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.60	−0.077%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.090%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.90	−0.039%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−0.077%	$37.0M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.33	−0.111%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.31	−0.114%	$76.1M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.27	+0.008%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.71	−0.063%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.073%	$4.1M	$75.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	−0.006%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.50	−0.090%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.80	−0.052%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.14	−0.008%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	−0.064%	$387K	$986K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.77	−0.055%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.15	−0.007%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.35	−0.109%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.68	−0.067%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.80	+0.076%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0135%	8h	787.30	+0.012%	$169K	$2.7M	4.8x	as long as short
Hyperliquid BNB	+0.0151%	1h	787.35	+0.018%	$51.5M	$17.7M	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.35	+0.018%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.60	−0.076%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.46	+0.032%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	787.12	−0.011%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.02	−0.024%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.41	−0.101%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.173%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.98	−0.029%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	787.15	−0.007%	$67K	$39K	12x	as long as short