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: SunX against RISEx+0.023%7-day average +0.052% · 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−$55as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on RISEx Short on SunX

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 4 days (all we have)−0.087%−$9 · spread now +0.023%, 7d avg +0.052%

Together, before fees−0.200%−$20 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 SunX is 0.030% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.052%). 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 -11.5% 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	788.75	0.0431	pay 0.0054% / 1h	43m 49s	$1.1M	$892K	20x
Short	SunX BNB-USDT	788.93	0.0100	get 0.0100% / 8h	3h 43m	$12K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$69.58
Price spread: +0.023% → +0.052%: −$2.99
Slippage, 4 orders: −$38.16
Fee RISEx: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$124.72
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; SunX: live order book, 11 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, 5 min ago	0.57 bp	3.6 bp −$4	9.6 bp −$96	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	15.32 bp	23.4 bp −$23	30.5 bp −$305	doesn't fit	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	788.22	−0.067%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.14	−0.078%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.67	−0.011%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	789.10	+0.044%	$129K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	789.04	+0.036%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.20	−0.070%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.071%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0033%	8h	788.76	0.000%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0044%	8h	788.51	−0.031%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0054%	8h	789.10	+0.044%	$80.0M	$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	+0.0054%	8h	788.69	−0.008%	$492.1M	$796.4M	75x	as long as short
Phemex BNBUSDT	+0.0062%	8h	788.65	−0.013%	$69.0M	$50.4M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.191%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	789.11	+0.045%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.35	−0.052%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.23	−0.067%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.25	−0.064%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.78	+0.003%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.39	−0.046%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	−0.083%	$138.7M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.00	−0.096%	$53.4M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.60	−0.020%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.25	−0.064%	$35.9M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.93	−0.105%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.78	−0.124%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.63	−0.016%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.41	−0.043%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.33	+0.073%	$4.1M	$73.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.44	+0.087%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.27	−0.061%	$130K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.36	−0.051%	$31K	$12K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	788.93	+0.023%	$12K	$1.5M	50x
SoDEX BNB-USD	+0.0100%	1h	788.30	−0.058%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.36	−0.050%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.52	−0.029%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.83	−0.117%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.23	−0.066%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0118%	1h	788.57	−0.024%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0169%	8h	789.53	+0.098%	$2.9M	$28.7M	10x	as long as short
BloFin BNB-USDT	+0.0175%	8h	789.06	+0.039%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	790.66	+0.242%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.00	+0.031%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.71	−0.006%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.00	−0.095%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0400%	1h	788.76	+0.001%	$67K	$39K	12x	as long as short
RISEx BNB/USDClong	+0.0431%	1h	788.75	long leg	$1.1M	$892K	20x