Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.025%

Price spread now: SunX against Deribit+0.019%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$620.617% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.019%, 7d avg +0.032%

Together, before fees−0.140%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	787.78	0.0200	pay 0.0025% / 1h	48m 59s	$1.5M	$143K	25x
Short	SunX BNB-USDT	787.93	0.0100	get 0.0100% / 8h	2h 48m	$12K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$21
Price spread: +0.019% → +0.032%: −$1.26
Slippage, 4 orders: −$46.65
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$83.91
Costs to cover: 0.617%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; SunX: live order book, 6 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 Deribit live order book, 5 min ago	3.05 bp	10.1 bp −$10	16.5 bp −$165	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	15.06 bp	23.5 bp −$24	30.6 bp −$306	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	787.26	−0.066%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.53	−0.031%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.28	+0.064%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.28	−0.063%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	787.91	+0.017%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.198%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0037%	8h	787.27	−0.064%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0050%	8h	788.20	+0.054%	$79.9M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	787.89	+0.014%	$490.8M	$804.7M	75x	as long as short
Phemex BNBUSDT	+0.0053%	8h	787.86	+0.010%	$68.9M	$50.7M	50x	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	787.29	−0.062%	$2.5M	$1.2M	50x	as long as short
dYdX BNB-USD	+0.0071%	1h	787.06	−0.091%	$159K	$61K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	−0.040%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.48	−0.037%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.33	−0.057%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.067%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.83	+0.007%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.49	−0.036%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.20	−0.073%	$138.3M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.061%	$53.4M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	−0.048%	$52K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.25	−0.067%	$36.1M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.03	−0.095%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.99	−0.100%	$76.2M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.69	−0.011%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.11	−0.085%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.81	+0.004%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.86	+0.010%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.25	−0.067%	$132K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.50	−0.035%	$31K	$12K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	787.93	+0.019%	$12K	$1.5M	50x
HTX BNB-USDT	+0.0100%	8h	787.13	−0.082%	$8.1M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.70	−0.009%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.04	−0.094%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.37	−0.052%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.34	−0.056%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0119%	1h	787.50	−0.035%	$387K	$997K	10x	as long as short
Kalshi KXBNBPERP	+0.0131%	8h	787.70	−0.010%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0171%	8h	787.95	+0.022%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0198%	8h	788.06	+0.035%	$2.9M	$29.2M	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0200%	1h	787.78	long leg	$1.5M	$143K	25x
Bulk BNB-USD	+0.0260%	1h	788.17	+0.050%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	787.92	+0.018%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.10	−0.086%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	787.58	−0.026%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	787.74	−0.005%	$67K	$39K	12x	as long as short