Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h +0.013%

Price spread now: Polymarket Perps against BingX−0.102%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on BingX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.102%, 7d avg −0.011%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.091% cheaper against BingX than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.011%). If the spread goes back, that is −$9 on $10k: about 5.1 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.023% in total) that is about 27 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	785.44	0.0041	pay 0.0041% / 8h	2h 33m	—	$13.4M	—
Short	Polymarket Perps BNB-USD	784.64	0.0100	get 0.0013% / 1h	33m 10s	$131K	$952K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.102%Rate

Funding earned: $12.39
Price spread: −0.102% → −0.011%: −$9.05
Slippage, 4 orders: −$12.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$27.25
Costs to cover: 0.306%
Break-even: 22.4 days

Slippage from BingX: live order book, 5 min ago; Polymarket Perps: live order book, 15 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, 5 min ago	0.25 bp	7.2 bp −$7	10.9 bp −$109	24.8 bp −$2,482	73.6 bp −$36.8K
Sell Polymarket Perps live order book, 15 min ago	2.99 bp	8.3 bp −$8	8.7 bp −$87	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 −0.0192% / S +0.0356%	1h	784.71	−0.093%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.37	−0.009%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.27	+0.106%	$848K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.80	−0.081%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	785.43	−0.001%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.502%	$19K	$789K	30x	as long as short
BingX BNB-USDClong	+0.0041%	8h	785.44	long leg	—	$13.4M	—
Phemex BNBUSDT	+0.0051%	8h	785.40	−0.005%	$68.7M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	786.00	+0.071%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	785.55	+0.015%	$489.0M	$808.9M	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	784.73	−0.090%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.23	+0.101%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.98	−0.059%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.85	−0.075%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.65	−0.101%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.40	−0.005%	$51.5M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.06	−0.048%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.95	−0.062%	$137.9M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.90	−0.069%	$53.3M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.30	−0.018%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.90	−0.069%	$36.3M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.47	−0.123%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.70	−0.094%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.61	+0.022%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	+0.075%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.21	+0.225%	$4.1M	$75.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.79	+0.172%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USDshort	+0.0100%	1h	784.64	−0.102%	$131K	$952K	10x
Derive BNB-PERP	+0.0100%	1h	784.94	−0.064%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.32	−0.015%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.90	−0.069%	$386K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.97	−0.060%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.06	−0.048%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.44	−0.128%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.91	−0.068%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.73	+0.037%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0111%	1h	784.98	−0.058%	$159K	$61K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	785.10	−0.043%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	785.44	0.000%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	786.66	+0.155%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.101%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.66	+0.028%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	785.26	−0.023%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.51	−0.118%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.30	−0.018%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	785.56	+0.015%	$67K	$39K	12x	as long as short