Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h +0.003%

Price spread now: MEXC against Injective−2.160%55s7-day average +0.331% · you buy dearer than you sell

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)+2.871%+$287 · spread now −2.160%, 7d avg +0.331%

Together, before fees+2.934%+$293 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 2.491% cheaper against Injective than usual: you would sell low and buy high (spread −2.160% now, against its 7-day average of +0.331%). If the spread goes back, that is −$249 on $10k: about 12 months of funding at the current rate (+$1 a day). The two prices were read 55 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	805.09	0.0033	pay 0.0004% / 1h	52m 21s	$19K	$789K	30x
Short	MEXC BNB_USDT	787.70	0.0056	get 0.0056% / 8h	52m 21s	$81.1M	$11.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −2.160%Rate

Funding earned: $4.76
Price spread: −2.160% → +0.331%: −$249.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$248.35
Costs to cover: 0.040%
Break-even: 372.2 days

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.27 bp	4.4 bp −$4	6.6 bp −$66	20.4 bp −$2,038	37.1 bp −$18.5K

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 −0.0168% / S +0.0337%	1h	786.52	−2.307%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.81	−2.271%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	786.72	−2.281%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	787.08	−2.237%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.51	−2.308%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERPlong	+0.0033%	1h	805.09	long leg	$19K	$789K	30x
BingX BNB-USDT	+0.0045%	8h	786.61	−2.295%	—	$22.3M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	787.05	−2.241%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDTshort	+0.0056%	8h	787.70	−2.160%	$81.1M	$11.9M	200x
Binance BNBUSDT	+0.0056%	8h	787.10	−2.234%	$489.1M	$821.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0073%	1h	786.61	−2.295%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0078%	8h	787.18	−2.225%	$68.8M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.62	−2.294%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	787.08	−2.237%	$169K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.25	−2.340%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.16	−2.227%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.66	−2.289%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.46	−2.314%	$138.3M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−2.321%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	−2.284%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−2.297%	$38.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.07	−2.362%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.31	−2.333%	$76.4M	$31.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.81	−2.271%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.70	−2.408%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.65	−2.290%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.75	−2.278%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.44	−2.317%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.63	−2.293%	$265K	$439K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.41	−2.321%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.15	−2.228%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.80	−2.272%	$387K	$975K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.78	−2.275%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.87	−2.263%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−2.341%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.74	−2.280%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	786.77	−2.276%	$563K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	786.70	−2.284%	$171K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0176%	8h	786.80	−2.272%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.04	−2.242%	$1.5M	$145K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.01	−2.246%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0230%	1h	786.88	−2.262%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	787.07	−2.238%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.20	−2.346%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.73	−2.280%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	786.98	−2.249%	$67K	$39K	12x	as long as short