Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.050%

Price spread now: Bulk against SunX+0.143%7-day average +0.026% · 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−$40as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on SunX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.222%+$22 on $10k

Price spread, last 3 days (all we have)−0.096%−$10 · spread now +0.143%, 7d avg +0.026%

Together, before fees+0.126%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bulk is 0.116% dearer against SunX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	794.79	0.0100	pay 0.0100% / 8h	6h 20m	$12K	$1.6M	50x
Short	Bulk BNB-USD	795.93	0.0195	get 0.0024% / 1h	20m 54s	$644K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against SunX. 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 SunXbpFee BulkbpOrdersPrice spread, now +0.143%Rate

Funding earned: $19.89
Price spread: +0.143% → +0.026%: $11.6
Slippage, 4 orders: −$37.02
Fee SunX: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$20.53
Costs to cover: 0.520%
Break-even: 14.2 days

Slippage from SunX: live order book, 4 min ago; Bulk: live order book, 48 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 SunX live order book, 4 min ago	7.01 bp	29.9 bp −$30	38.0 bp −$380	doesn't fit	doesn't fit
Sell Bulk live order book, 48 min ago	0.06 bp	3.6 bp −$4	3.8 bp −$38	7.0 bp −$695	14.7 bp −$7,364

BNB on 45 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	794.28	−0.065%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	794.11	−0.086%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	794.69	−0.013%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	795.71	+0.115%	$860K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.31	−0.061%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.296%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	794.47	−0.041%	$6.1M	$19.7M	200x	as long as short
Variational Omni BNB	+0.0038%	8h	794.10	−0.087%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDC	+0.0050%	8h	794.94	+0.018%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0052%	8h	794.76	−0.004%	$69.5M	$50.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BNB_USDT	+0.0052%	8h	793.80	−0.125%	$35.4M	$56.4M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.093%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	794.70	−0.012%	$82.5M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	794.40	−0.049%	$494.1M	$810.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0070%	8h	795.62	+0.104%	$3.0M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0076%	1h	794.57	−0.028%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	794.99	+0.025%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	794.33	−0.058%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.15	−0.081%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	794.35	−0.056%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.70	−0.012%	$52.1M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	794.62	−0.021%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.84	−0.120%	$138.8M	$75.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.60	−0.150%	$53.2M	$110.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	794.70	−0.012%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.74	−0.132%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.57	−0.154%	$77.3M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	795.49	+0.087%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	795.56	+0.097%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.37	−0.053%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.38	−0.052%	$32K	$9K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	794.79	long leg	$12K	$1.6M	50x
SoDEX BNB-USD	+0.0100%	1h	794.30	−0.062%	$390K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	794.28	−0.065%	$8.2M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	795.05	+0.033%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.63	−0.146%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	794.26	−0.066%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	794.74	−0.007%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	794.90	+0.013%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USDshort	+0.0195%	1h	795.93	+0.143%	$644K	$16K	10x
01 Exchange BNBUSD	+0.0256%	1h	794.94	+0.018%	$28K	$2K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	794.69	−0.013%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	794.14	−0.082%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0383%	1h	794.91	+0.015%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	795.47	+0.086%	$68K	$38K	12x	as long as short