Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: edgeX against Phoenix−0.021%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.021%, 7d avg −0.011%

Together, before fees−0.104%+ Points / potential airdropedgeX: Active · farm board−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BNB	785.13	0.0100	pay 0.0012% / 1h	15m 06s	$159K	$35K	10x
Short	edgeX BNBUSDC	784.96	0.0100	get 0.0050% / 4h	15m 06s	$4.1M	$76.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. 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 PhoenixbpFee edgeXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0.08
Price spread: −0.021% → −0.011%: −$1.08
Slippage, 4 orders: −$21.58
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$38.59
Costs to cover: 0.376%
Break-even: 3485.0 days

Slippage from Phoenix: live order book, 16 min ago; edgeX: live order book, 4 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 Phoenix live order book, 16 min ago	1.02 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	1.91 bp	6.4 bp −$6	6.4 bp −$64	9.5 bp −$948	doesn't fit

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	784.52	−0.078%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.94	−0.024%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.49	−0.082%	$2.5M	$1.2M	50x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	785.00	−0.017%	$170K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.56	+0.055%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.53	−0.077%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	785.18	+0.006%	$6.0M	$18.7M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.542%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0038%	8h	784.64	−0.062%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	785.70	+0.073%	$80.8M	$12.0M	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	+0.0048%	8h	785.19	+0.007%	$488.0M	$814.5M	75x	as long as short
Phemex BNBUSDT	+0.0076%	8h	785.15	+0.003%	$68.5M	$51.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.65	−0.062%	$2.7M	$3.8M	20x	as long as short
Phoenix BNBlong	+0.0100%	1h	785.13	long leg	$159K	$35K	10x
Nado BNB-PERP	+0.0100%	1h	784.45	−0.087%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.14	+0.001%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.87	−0.034%	$1.2M	$938K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.50	−0.080%	$138.1M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.40	−0.093%	$53.3M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.80	−0.042%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.65	−0.061%	$38.3M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.23	−0.115%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.42	−0.090%	$75.3M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.01	−0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	−0.089%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	784.96	−0.021%	$4.1M	$76.7M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	785.42	+0.037%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.42	−0.090%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.55	−0.074%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.56	−0.073%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.15	+0.003%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.70	−0.055%	$386K	$964K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.05	−0.010%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.18	+0.006%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.17	−0.123%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.61	−0.066%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.48	−0.083%	$546K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0113%	1h	784.27	−0.110%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0168%	8h	785.06	−0.009%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.98	−0.019%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	785.43	+0.038%	$2.9M	$28.3M	10x	as long as short
Bulk BNB-USD	+0.0231%	1h	784.93	−0.025%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.34	+0.027%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.22	−0.116%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.92	−0.027%	$1.1M	$904K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	784.96	−0.022%	$67K	$39K	12x	as long as short