Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h +0.012%

Price spread now: Injective against BingX+2.420%7-day average −0.203% · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−2.954%−$295 · spread now +2.420%, 7d avg −0.203%

Together, before fees−3.065%−$307 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Injective is 2.622% dearer against BingX than usual: you sell high and buy low, +$262 on $10k if it goes back to its 7-day average of −0.203%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	786.07	0.0041	pay 0.0041% / 8h	2h 34m	—	$13.4M	—
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	34m 45s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.420%Rate

Funding earned: −$1.61
Price spread: +2.420% → −0.203%: $262.23
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $250.6
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: 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 BingX live order book, 4 min ago	0.25 bp	7.2 bp −$7	10.9 bp −$109	24.8 bp −$2,482	73.6 bp −$36.8K
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	786.72	+0.083%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.07	+0.127%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.68	+0.078%	$848K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.83	+0.097%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	786.39	+0.041%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+2.420%	$19K	$789K	30x
BingX BNB-USDClong	+0.0041%	8h	786.07	long leg	—	$13.4M	—
Phemex BNBUSDT	+0.0045%	8h	787.23	+0.148%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	786.60	+0.067%	$79.7M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	786.10	+0.004%	$489.3M	$808.3M	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	786.66	+0.075%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.23	+0.020%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.82	−0.032%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.90	+0.106%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.70	+0.080%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.29	+0.028%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.92	−0.019%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.60	−0.060%	$138.0M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.60	−0.060%	$53.4M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	+0.093%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.90	−0.022%	$36.3M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.45	−0.079%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.53	−0.069%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.83	+0.097%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	−0.005%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.25	+0.023%	$4.1M	$75.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.54	+0.060%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.69	+0.079%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.07	+0.127%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.53	+0.186%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	+0.118%	$387K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.53	+0.059%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.98	−0.012%	$76K	$17K	50x	as long as short
dYdX BNB-USD	+0.0100%	1h	785.67	−0.050%	$159K	$61K	10x	as long as short
Extended BNB-USD	+0.0104%	1h	785.64	−0.054%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.93	+0.110%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.44	+0.047%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0144%	8h	786.90	+0.106%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	787.24	+0.149%	$17.8M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	786.66	+0.075%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.020%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	787.16	+0.139%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.31	+0.158%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.61	+0.069%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.95	+0.111%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0480%	1h	786.12	+0.006%	$67K	$39K	12x	as long as short