Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.4% APRpaid last 24h −0.050%

Price spread now: SunX against Bulk−0.082%7-day average −0.026% · 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−$59as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on Bulk Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.222%−$22 on $10k

Price spread, last 3 days (all we have)+0.035%+$4 · spread now −0.082%, 7d avg −0.026%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.056% cheaper against Bulk than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	793.21	0.0167	pay 0.0021% / 1h	42m 15s	$644K	$10K	10x
Short	SunX BNB-USDT	792.56	0.0100	get 0.0100% / 8h	6h 42m	$13K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$14.15
Price spread: −0.082% → −0.026%: −$5.57
Slippage, 4 orders: −$38.68
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$73.4
Costs to cover: 0.537%
Break-even: never at this rate

Slippage from Bulk: live order book, 27 min ago; SunX: live order book, 3 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, 27 min ago	0.06 bp	3.6 bp −$4	4.1 bp −$41	7.0 bp −$701	16.8 bp −$8,405
Sell SunX live order book, 3 min ago	15.06 bp	23.5 bp −$24	39.2 bp −$392	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 −0.0167% / S +0.0335%	1h	791.95	−0.158%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	791.98	−0.156%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	792.38	−0.105%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0003%	8h	791.95	−0.159%	$35.3M	$55.5M	75x	as long as short
StandX BNB-USD	0.0000%	1h	794.21	+0.126%	$859K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	792.00	−0.152%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0010%	8h	792.53	−0.086%	$4.1M	$5.0M	—	as long as short
GRVT BNB_USDT_Perp	+0.0011%	8h	793.23	+0.003%	$3.0M	$28.4M	10x	as long as short
Phemex BNBUSDT	+0.0030%	8h	792.59	−0.078%	$69.3M	$50.3M	50x	as long as short
Aster BNBUSDT	+0.0033%	8h	792.72	−0.062%	$6.1M	$19.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.498%	$19K	$789K	30x	as long as short
dYdX BNB-USD	+0.0038%	1h	792.48	−0.092%	$160K	$63K	10x	as long as short
BingX BNB-USDC	+0.0050%	8h	792.68	−0.067%	—	$13.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	792.52	−0.087%	$608K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	792.90	−0.039%	$82.2M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	792.56	−0.083%	$492.7M	$816.3M	75x	as long as short
Phoenix BNB	+0.0088%	1h	793.02	−0.024%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	792.17	−0.131%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.97	−0.156%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.95	−0.159%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	792.35	−0.109%	$1.2M	$932K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	792.07	−0.144%	$138.0M	$77.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.00	−0.153%	$53.1M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.30	−0.115%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.79	−0.179%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	792.03	−0.149%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.14	−0.009%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.32	+0.014%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	792.04	−0.147%	$111K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	792.13	−0.137%	$32K	$9K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	792.56	−0.082%	$13K	$1.6M	50x
SoDEX BNB-USD	+0.0100%	1h	792.20	−0.127%	$389K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.97	−0.156%	$8.1M	$8.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	792.50	−0.090%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.71	−0.190%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	792.08	−0.142%	$380K	$110K	10x	as long as short
Hyperliquid BNB	+0.0120%	1h	792.91	−0.038%	$52.5M	$19.9M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	792.20	−0.127%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	792.60	−0.077%	$111K	$2.8M	4.8x	as long as short
Bulk BNB-USDlong	+0.0167%	1h	793.21	long leg	$644K	$10K	10x
BloFin BNB-USDT	+0.0182%	8h	794.06	+0.107%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	792.58	−0.079%	$28K	$2K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	792.45	−0.096%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	791.86	−0.170%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0383%	1h	793.05	−0.020%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	793.67	+0.058%	$68K	$38K	12x	as long as short