Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.004%

Price spread now: Injective against edgeX+0.756%7-day average −0.391% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.232%−$23 on $10k

Price spread, last 3 days (all we have)−1.225%−$123 · spread now +0.756%, 7d avg −0.391%

Together, before fees−1.458%+ Points / potential airdropedgeX: Active · farm board−$146 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.147% dearer against edgeX than usual: you sell high and buy low (spread +0.756% now, against its 7-day average of −0.391%): +$115 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 57 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	799.05	0.0100	pay 0.0050% / 4h	3h 30m	$4.2M	$76.4M	30x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	30m 29s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.756%Rate

Funding earned: −$14
Price spread: +0.756% → −0.391%: $114.65
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $91.63
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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	2.50 bp	7.0 bp −$7	7.0 bp −$70	10.7 bp −$1,068	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0159% / S +0.0334%	1h	798.89	−0.020%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.75	−0.038%	$2.5M	$965K	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.87	−0.023%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0051%	8h	798.82	−0.029%	—	$13.3M	—	as long as short
Bybit BNBUSDT	−0.0019%	8h	798.20	−0.107%	$138.6M	$75.0M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.97	−0.010%	$3.0M	$27.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.57	−0.060%	$863K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	799.36	+0.039%	$69.8M	$50.3M	50x	as long as short
Variational Omni BNB	+0.0003%	8h	798.43	−0.078%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.95	−0.013%	$9.7M	—	150x	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 PERPshort	+0.0033%	1h	805.09	+0.756%	$19K	$789K	30x
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.73	−0.040%	$602K	$972K	50x	as long as short
Aster BNBUSDT	+0.0062%	8h	799.09	+0.005%	$6.2M	$19.1M	200x	as long as short
MEXC BNB_USDT	+0.0083%	8h	799.50	+0.056%	$83.1M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0084%	8h	799.00	−0.006%	$496.0M	$806.1M	75x	as long as short
Gate BNB_USDT	+0.0084%	8h	798.40	−0.082%	$35.7M	$56.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	798.77	−0.035%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.20	+0.019%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.50	−0.069%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.87	−0.023%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.30	−0.094%	$54.1M	$110.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.90	−0.019%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.57	−0.060%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.35	−0.088%	$78.7M	$27.3M	75x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	799.05	long leg	$4.2M	$76.4M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	799.10	+0.006%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.42	−0.079%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.86	−0.024%	$386K	$458K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.99	−0.007%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.42	+0.046%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.00	−0.006%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.67	−0.047%	$8.2M	$8.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.32	+0.033%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.13	−0.115%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.88	−0.021%	$384K	$108K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.69	+0.080%	$649K	$10K	10x	as long as short
Kalshi KXBNBPERP	+0.0153%	8h	799.40	+0.044%	$91K	$2.8M	4.8x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.68	−0.047%	$1.1M	$1.4M	20x	as long as short
Hibachi BNB/USDT-P	+0.0168%	1h	799.22	+0.022%	$69K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.34	+0.036%	$1.6M	$160K	25x	as long as short
BloFin BNB-USDT	+0.0204%	8h	799.42	+0.046%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	798.86	−0.024%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0234%	1h	798.94	−0.014%	$161K	$63K	10x	as long as short
Hyperliquid BNB	+0.0308%	1h	799.51	+0.057%	$53.2M	$20.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.06	−0.124%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0394%	1h	799.50	+0.056%	$2.7M	$5.6M	40x	as long as short