Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0296%/8h= +32.4% APRpaid last 24h +0.047%

Price spread now: Bulk against MEXC+0.226%56s7-day average −0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.146% of the position

Long on MEXC Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.244%+$24 on $10k

Price spread, last 4 days (all we have)−0.331%−$33 · spread now +0.226%, 7d avg −0.073%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bulk is 0.299% dearer against MEXC than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of −0.073%. The two prices were read 56 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	MEXC BNB_USDT	790.40	0.0070	pay 0.0070% / 8h	5h 05m	$80.3M	$12.5M	200x
Short	Bulk BNB-USD	792.18	0.0366	get 0.0046% / 1h	5m 46s	$641K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against MEXC. 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 MEXCbpFee BulkbpOrdersPrice spread, now +0.226%Rate

Funding earned: $62.18
Price spread: +0.226% → −0.073%: $29.86
Slippage, 4 orders: −$3.62
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $77.42
Costs to cover: 0.146%
Break-even: from the start

Slippage from MEXC: live order book, 3 min ago; Bulk: live order book, 58 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 MEXC live order book, 3 min ago	0.63 bp	3.9 bp −$4	6.7 bp −$67	26.3 bp −$2,625	44.3 bp −$22.2K
Sell Bulk live order book, 58 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	6.6 bp −$661	17.8 bp −$8,922

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 −0.0167% / S +0.0335%	1h	789.68	−0.091%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.22	−0.023%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.23	+0.105%	$855K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.67	−0.092%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.859%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	790.11	−0.037%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.68	+0.288%	$592K	$1.9M	50x	as long as short
BingX BNB-USDT	+0.0058%	8h	789.86	−0.068%	—	$34.3M	—	as long as short
Phemex BNBUSDT	+0.0059%	8h	790.42	+0.003%	$69.2M	$50.3M	50x	as long as short
MEXC BNB_USDTlong	+0.0070%	8h	790.40	long leg	$80.3M	$12.5M	200x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0071%	8h	790.11	−0.037%	$493.4M	$791.7M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.97	−0.055%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.74	−0.084%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.82	−0.073%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.55	−0.108%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.22	−0.023%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.81	−0.075%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.30	−0.139%	$138.9M	$76.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.30	−0.139%	$53.4M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.00	−0.051%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.50	−0.114%	$35.4M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.39	−0.128%	$27.6M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.14	−0.159%	$76.5M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.39	−0.001%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.30	−0.140%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.80	+0.178%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.37	+0.123%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.58	−0.104%	$133K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.91	−0.063%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.41	+0.001%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.90	−0.063%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.81	−0.075%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	790.34	−0.008%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.24	−0.146%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.72	−0.086%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.64	+0.157%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0141%	8h	791.87	+0.187%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERP	+0.0185%	8h	790.70	+0.038%	$104K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0187%	1h	789.66	−0.093%	$160K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0191%	8h	791.02	+0.078%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	790.24	−0.020%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.21	−0.024%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.29	−0.140%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	790.09	−0.039%	$1.1M	$979K	20x	as long as short
Bulk BNB-USDshort	+0.0366%	1h	792.18	+0.226%	$641K	$9K	10x
Hibachi BNB/USDT-P	+0.0576%	1h	790.63	+0.030%	$68K	$38K	12x	as long as short