Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.098%

Price spread now: MEXC against dYdX+0.144%7-day average +0.174% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.475%−$47 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.144%, 7d avg +0.174%

Together, before fees−0.422%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.030% cheaper against dYdX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.174%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	792.96	0.0081	pay 0.0010% / 1h	16m 36s	$160K	$63K	10x
Short	MEXC BNB_USDT	794.10	0.0062	get 0.0062% / 8h	6h 16m	$82.5M	$12.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$3.97
Price spread: +0.144% → +0.174%: −$3.04
Slippage, 4 orders: −$38.26
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$59.27
Costs to cover: 0.523%
Break-even: never at this rate

Slippage from dYdX: live order book, 52 min ago; MEXC: 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 dYdX live order book, 52 min ago	14.44 bp	19.5 bp −$19	37.4 bp −$374	83.1 bp −$8,309	123.3 bp −$61.7K
Sell MEXC live order book, 2 min ago	1.26 bp	3.3 bp −$3	5.5 bp −$55	15.7 bp −$1,572	29.8 bp −$14.9K

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	793.12	+0.020%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.36	+0.051%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.71	+0.094%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	793.94	+0.123%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.19	+0.029%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.530%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	794.09	+0.142%	$6.1M	$19.7M	200x	as long as short
Variational Omni BNB	+0.0038%	8h	794.10	+0.144%	$4.1M	$4.9M	—	as long as short
Phemex BNBUSDT	+0.0049%	8h	793.89	+0.117%	$69.4M	$50.7M	50x	as long as short
BingX BNB-USDC	+0.0050%	8h	793.37	+0.052%	—	$13.4M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.324%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDTshort	+0.0062%	8h	794.10	+0.144%	$82.5M	$12.8M	200x
Binance BNBUSDT	+0.0062%	8h	794.13	+0.147%	$494.0M	$809.8M	75x	as long as short
Gate BNB_USDT	+0.0068%	8h	793.35	+0.049%	$35.4M	$56.6M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0069%	8h	793.89	+0.117%	$3.0M	$28.4M	10x	as long as short
dYdX BNB-USDlong	+0.0081%	1h	792.96	long leg	$160K	$63K	10x
Phoenix BNB	+0.0088%	1h	794.20	+0.156%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.56	+0.075%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.09	+0.016%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.06	+0.012%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.23	+0.160%	$52.0M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	793.66	+0.088%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	792.77	−0.024%	$138.6M	$76.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.60	−0.046%	$53.2M	$110.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.60	+0.081%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.39	+0.054%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.10	+0.017%	$77.3M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.72	+0.095%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.68	+0.091%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.24	+0.035%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.37	+0.052%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.80	+0.106%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.40	+0.055%	$390K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.97	+0.001%	$8.1M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.95	+0.125%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.00	+0.005%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.42	+0.058%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.79	+0.104%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	793.50	+0.068%	$113K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.133%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	794.09	+0.142%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	793.73	+0.097%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	792.79	−0.022%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	794.06	+0.139%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	793.58	+0.078%	$68K	$38K	12x	as long as short