Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.043%

Price spread now: Bulk against edgeX−0.001%7-day average +0.018% · 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−$22as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on edgeX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.240%+$24 on $10k

Price spread, last 4 days (all we have)−0.210%−$21 · spread now −0.001%, 7d avg +0.018%

Together, before fees+0.030%+ Points / potential airdropedgeX: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, 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	edgeX BNBUSDC	785.98	0.0100	pay 0.0050% / 4h	3h 34m	$4.1M	$76.1M	30x
Short	Bulk BNB-USD	785.97	0.0212	get 0.0027% / 1h	34m 46s	$637K	$831	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against edgeX. 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 edgeXbpFee BulkbpOrdersPrice spread, now −0.001%Rate

Funding earned: $23.53
Price spread: −0.001% → +0.018%: −$1.93
Slippage, 4 orders: −$3.95
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $1.66
Costs to cover: 0.199%
Break-even: 6.5 days

Slippage from edgeX: live order book, 4 min ago; Bulk: live order book, 64 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 edgeX live order book, 4 min ago	1.91 bp	6.4 bp −$6	6.4 bp −$64	9.9 bp −$993	doesn't fit
Sell Bulk live order book, 64 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.7 bp −$469	11.5 bp −$5,733

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 −0.0166% / S +0.0337%	1h	785.35	−0.080%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.37	+0.050%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.34	−0.081%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.12	+0.018%	$2.9M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.13	+0.019%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.44	−0.068%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0022%	8h	785.99	+0.002%	$6.0M	$18.4M	200x	as long as short
BingX BNB-USDT	+0.0032%	8h	785.62	−0.045%	—	$22.2M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.432%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0038%	8h	786.90	+0.117%	$82.4M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0038%	8h	785.88	−0.012%	$488.6M	$810.9M	75x	as long as short
Lighter BNB	+0.0096%	1h	785.60	−0.048%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.25	−0.093%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.13	+0.019%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.65	−0.042%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.30	−0.086%	$138.3M	$73.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.10	−0.112%	$53.4M	$110.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.70	−0.035%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.50	−0.061%	$39.4M	$55.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.15	−0.105%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.00	−0.124%	$75.3M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.90	−0.010%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.32	−0.084%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	785.98	long leg	$4.1M	$76.1M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	786.17	+0.025%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.61	−0.047%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.57	−0.052%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.63	−0.044%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.96	−0.002%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	−0.035%	$386K	$942K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.70	−0.035%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.81	−0.022%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.05	−0.118%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.45	−0.066%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	786.00	+0.003%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	+0.078%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.32	+0.044%	$158K	$38K	10x	as long as short
dYdX BNB-USD	+0.0131%	1h	785.69	−0.036%	$157K	$64K	10x	as long as short
BloFin BNB-USDT	+0.0154%	8h	785.98	0.000%	$17.8M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0166%	8h	786.09	+0.014%	$68.5M	$51.0M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.95	−0.003%	$1.5M	$141K	25x	as long as short
Bulk BNB-USDshort	+0.0212%	1h	785.97	−0.001%	$637K	$831	10x
01 Exchange BNBUSD	+0.0232%	1h	786.03	+0.007%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.11	−0.111%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	785.83	−0.019%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	786.13	+0.020%	$67K	$39K	12x	as long as short