Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0145%/8h= −15.8% APRpaid last 24h −0.063%

Price spread now: BingX against Bulk−0.124%7-day average — · 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−$33as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Bulk Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.124% cheaper against Bulk than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	795.93	0.0195	pay 0.0024% / 1h	20m 51s	$644K	$16K	10x
Short	BingX BNB-USDC	794.94	0.0050	get 0.0050% / 8h	6h 20m	—	$13.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bulk. 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 BulkbpFee BingXbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$30.39
Price spread: −0.124% → 0.000%: −$12.38
Slippage, 4 orders: −$3.97
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$63.74
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Bulk: live order book, 48 min ago; BingX: live order book, 2 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 Bulk live order book, 48 min ago	0.06 bp	3.6 bp −$4	4.1 bp −$41	7.0 bp −$701	16.8 bp −$8,405
Sell BingX live order book, 2 min ago	0.25 bp	7.2 bp −$7	9.7 bp −$97	20.0 bp −$2,004	65.2 bp −$32.6K

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 −0.0167% / S +0.0335%	1h	794.28	−0.207%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	794.11	−0.228%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	794.69	−0.155%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	795.71	−0.027%	$860K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.31	−0.203%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.151%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	794.47	−0.183%	$6.1M	$19.7M	200x	as long as short
Variational Omni BNB	+0.0038%	8h	794.10	−0.229%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDCshort	+0.0050%	8h	794.94	−0.124%	—	$13.4M	—
Phemex BNBUSDT	+0.0052%	8h	794.76	−0.146%	$69.5M	$50.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BNB_USDT	+0.0052%	8h	793.80	−0.267%	$35.4M	$56.4M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	−0.050%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	794.70	−0.154%	$82.5M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	794.40	−0.192%	$494.1M	$810.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0070%	8h	795.62	−0.038%	$3.0M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0076%	1h	794.57	−0.170%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	794.99	−0.118%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	794.33	−0.200%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.15	−0.223%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	794.35	−0.198%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.70	−0.154%	$52.1M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	794.62	−0.164%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.84	−0.262%	$138.8M	$75.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.60	−0.292%	$53.2M	$110.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	794.70	−0.154%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.74	−0.275%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.57	−0.296%	$77.3M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	795.49	−0.055%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	795.56	−0.046%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.37	−0.195%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.38	−0.194%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.79	−0.142%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	794.30	−0.204%	$390K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	794.28	−0.207%	$8.2M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	795.05	−0.110%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.63	−0.288%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	794.26	−0.209%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	794.74	−0.149%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	794.90	−0.129%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USDlong	+0.0195%	1h	795.93	long leg	$644K	$16K	10x
01 Exchange BNBUSD	+0.0256%	1h	794.94	−0.124%	$28K	$2K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	794.69	−0.156%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	794.14	−0.224%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0383%	1h	794.91	−0.128%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	795.47	−0.057%	$68K	$38K	12x	as long as short