Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0331%/8h= −36.3% APRpaid last 24h −0.025%

Price spread now: edgeX against RISEx−0.066%7-day average +0.048% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$190.195% of the position

Long on RISEx Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.113%−$11 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.066%, 7d avg +0.048%

Together, before fees−0.034%+ Points / potential airdropedgeX: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and edgeX is 0.115% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.113% in total (about -11.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BNB/USDC	787.00	0.0431	pay 0.0054% / 1h	7m 33s	$1.1M	$907K	20x
Short	edgeX BNBUSDC	786.48	0.0100	get 0.0050% / 4h	3h 07m	$4.1M	$74.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against RISEx. 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 RISExbpFee edgeXbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$69.58
Price spread: −0.066% → +0.048%: −$11.48
Slippage, 4 orders: −$4.45
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$100.51
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; edgeX: live order book, 2 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 RISEx live order book, 1 min ago	0.32 bp	3.3 bp −$3	6.9 bp −$69	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	1.91 bp	6.4 bp −$6	6.4 bp −$64	9.6 bp −$964	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 −0.0192% / S +0.0356%	1h	786.01	−0.125%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0125%	1h	786.14	−0.110%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.81	−0.024%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	786.60	−0.051%	$122K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.52	+0.066%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.01	−0.126%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0021%	8h	787.16	+0.020%	$6.1M	$19.1M	200x	as long as short
BingX BNB-USDT	+0.0033%	8h	786.59	−0.052%	—	$22.3M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.298%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0041%	8h	787.40	+0.051%	$79.8M	$12.1M	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	+0.0041%	8h	787.37	+0.047%	$490.1M	$804.0M	75x	as long as short
Phemex BNBUSDT	+0.0041%	8h	786.59	−0.052%	$68.8M	$50.7M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	788.00	+0.127%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0077%	1h	786.56	−0.056%	$159K	$61K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.74	+0.094%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	786.56	−0.057%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.21	−0.101%	$264K	$491K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.30	−0.216%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.07	+0.008%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.71	−0.037%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.28	−0.092%	$138.1M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.089%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.90	−0.013%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.070%	$36.1M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.23	−0.098%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.23	−0.098%	$76.1M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.79	−0.027%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	0.000%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	786.48	−0.066%	$4.1M	$74.3M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	787.52	+0.066%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.64	−0.173%	$131K	$956K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.26	−0.095%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.38	−0.079%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.30	−0.089%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.92	−0.137%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.89	−0.014%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−0.097%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.21	−0.101%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0161%	8h	786.39	−0.078%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0179%	8h	786.55	−0.057%	$2.9M	$28.8M	10x	as long as short
Bulk BNB-USD	+0.0201%	1h	787.88	+0.112%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.44	+0.056%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.61	−0.050%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.69	−0.166%	$6K	$3K	40x	as long as short
RISEx BNB/USDClong	+0.0431%	1h	787.00	long leg	$1.1M	$907K	20x
Hibachi BNB/USDT-P	+0.0432%	1h	785.94	−0.135%	$67K	$39K	12x	as long as short