Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0297%/8h= −32.5% APRpaid last 24h +0.017%

Price spread now: BingX against Injective−0.084%57s7-day average +0.380% · you buy dearer than you sell

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

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.284%+$28 on $10k

Price spread, last 3 days (all we have)+0.729%+$73 · spread now −0.084%, 7d avg +0.380%

Together, before fees+1.013%+$101 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BingX is 0.465% cheaper against Injective than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of +0.380%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.284%, so the current rate has only just turned against you. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	804.89	0.0353	pay 0.0044% / 1h	6m 14s	$19K	$627K	30x
Short	BingX BNB-USDT	804.21	0.0056	get 0.0056% / 8h	2h 06m	—	$34.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$62.42
Price spread: −0.084% → +0.380%: −$46.48
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.91
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; BingX: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	0.12 bp	5.9 bp −$6	8.4 bp −$84	11.8 bp −$1,184	18.8 bp −$9,391

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 −0.0195% / S +0.0371%	1h	804.06	−0.103%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.60	−0.036%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.17	+0.035%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.90	+0.001%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.76	−0.016%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.10	−0.099%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.33	−0.069%	$2.5M	$928K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	−0.032%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDTshort	+0.0056%	8h	804.21	−0.084%	—	$34.5M	—
Bybit BNBUSDT	+0.0080%	8h	803.70	−0.148%	$139.5M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	+0.032%	$608K	$880K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.39	−0.062%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	804.76	−0.016%	$6.4M	$18.8M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.91	−0.122%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.45	−0.055%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.00	−0.111%	$55.1M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.60	−0.036%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.00	−0.111%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.01	−0.109%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.86	−0.128%	$78.9M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.38	+0.060%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.81	−0.010%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.08	−0.101%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.16	−0.091%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.36	−0.066%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.83	−0.008%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.61	−0.034%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.20	−0.085%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.98	+0.011%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.70	−0.148%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.31	−0.072%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.00	+0.014%	$84.5M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	804.79	−0.012%	$519.9M	$805.6M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.091%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0137%	8h	804.81	−0.010%	$70.2M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0189%	1h	804.20	−0.086%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0203%	1h	804.78	−0.014%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.54	−0.043%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0235%	1h	804.12	−0.096%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.16	+0.034%	$18.9M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.060%	$651K	$14K	10x	as long as short
Hibachi BNB/USDT-P	+0.0264%	1h	804.72	−0.021%	$71K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.80	−0.136%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.02	+0.016%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERPlong	+0.0353%	1h	804.89	long leg	$19K	$627K	30x
Backpack BNB_USDC_PERP	+0.0650%	1h	805.27	+0.047%	$3.0M	$5.5M	40x	as long as short