Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.041%

Price spread now: Deribit against BingX+0.022%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.022%, 7d avg +0.031%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	787.36	0.0048	pay 0.0048% / 8h	1h 04m	—	$13.4M	—
Short	Deribit BNB_USDC-PERPETUAL	787.53	0.0200	get 0.0025% / 1h	4m 39s	$1.5M	$145K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.022%Rate

Funding earned: $31.92
Price spread: +0.022% → +0.031%: −$0.86
Slippage, 4 orders: −$13.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $0.24
Costs to cover: 0.308%
Break-even: 6.9 days

Slippage from BingX: live order book, 4 min ago; Deribit: live order book, 4 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 BingX live order book, 4 min ago	0.38 bp	6.8 bp −$7	9.8 bp −$98	22.3 bp −$2,233	71.1 bp −$35.6K
Sell Deribit live order book, 4 min ago	3.49 bp	7.0 bp −$7	11.6 bp −$116	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 −0.0170% / S +0.0337%	1h	787.09	−0.035%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.02	+0.084%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.25	+0.113%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.17	−0.024%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.252%	$19K	$789K	30x	as long as short
BingX BNB-USDClong	+0.0048%	8h	787.36	long leg	—	$13.4M	—
Aster BNBUSDT	+0.0049%	8h	787.66	+0.038%	$6.1M	$18.8M	200x	as long as short
Binance BNBUSDT	+0.0059%	8h	787.59	+0.029%	$489.5M	$820.8M	75x	as long as short
MEXC BNB_USDT	+0.0059%	8h	788.30	+0.119%	$81.1M	$12.1M	200x	as long as short
dYdX BNB-USD	+0.0061%	1h	787.30	−0.007%	$160K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	787.76	+0.051%	$68.8M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.43	+0.009%	$564K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.21	−0.019%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.20	−0.020%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.76	+0.051%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.36	0.000%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.00	−0.046%	$138.5M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.058%	$53.6M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.20	−0.020%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.05	−0.039%	$37.9M	$59.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.73	−0.080%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.88	−0.061%	$76.8M	$31.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.52	+0.020%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.51	+0.019%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.68	+0.040%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.74	+0.048%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.10	−0.033%	$132K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.19	−0.022%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.83	+0.059%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.74	+0.048%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.008%	$387K	$978K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.46	+0.013%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.53	+0.021%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.72	−0.081%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.13	−0.029%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	787.80	+0.056%	$171K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.76	+0.051%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0179%	8h	787.77	+0.052%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	787.53	+0.022%	$1.5M	$145K	25x
Kraken Futures PF_BNBUSD	+0.0206%	1h	787.07	−0.037%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0222%	1h	787.85	+0.062%	$639K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0228%	8h	787.96	+0.076%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.51	+0.019%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.93	−0.055%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.23	−0.016%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	787.88	+0.066%	$67K	$39K	12x	as long as short