Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: Deribit against SunX+0.048%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.048%, 7d avg −0.031%

Together, before fees+0.060%+$6 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 Deribit is 0.079% dearer against SunX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	785.94	0.0100	pay 0.0100% / 8h	7h 33m	$12K	$1.5M	50x
Short	Deribit BNB_USDC-PERPETUAL	786.31	0.0200	get 0.0025% / 1h	33m 39s	$1.5M	$141K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.048%Rate

Funding earned: $21
Price spread: +0.048% → −0.031%: $7.89
Slippage, 4 orders: −$45.26
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.37
Costs to cover: 0.603%
Break-even: 17.5 days

Slippage from SunX: live order book, 11 min ago; Deribit: live order book, 5 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, 11 min ago	15.07 bp	21.7 bp −$22	29.5 bp −$295	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	2.55 bp	6.0 bp −$6	12.9 bp −$129	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 −0.0166% / S +0.0337%	1h	785.38	−0.070%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.37	+0.055%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.51	−0.054%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.12	+0.023%	$2.9M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.13	+0.024%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.44	−0.063%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0022%	8h	785.27	−0.085%	$5.9M	$18.4M	200x	as long as short
BingX BNB-USDT	+0.0032%	8h	784.80	−0.145%	—	$22.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.437%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0038%	8h	786.30	+0.046%	$82.3M	$12.2M	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	+0.0038%	8h	785.16	−0.099%	$488.0M	$810.4M	75x	as long as short
Lighter BNB	+0.0096%	1h	784.81	−0.143%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.00	+0.008%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.37	−0.072%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.91	−0.131%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.54	−0.178%	$138.2M	$73.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.50	−0.183%	$53.3M	$110.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.90	−0.132%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.75	−0.151%	$39.3M	$55.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.48	−0.186%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.26	−0.214%	$75.2M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.80	−0.018%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.32	−0.079%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.98	+0.005%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.17	+0.030%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.47	−0.060%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.96	+0.003%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.63	−0.039%	$31K	$12K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	785.94	long leg	$12K	$1.5M	50x
SoDEX BNB-USD	+0.0100%	1h	785.90	−0.005%	$386K	$942K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.80	−0.018%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.27	−0.085%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.25	−0.215%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.89	−0.007%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0111%	8h	785.90	−0.005%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	785.76	−0.023%	$547K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.32	+0.049%	$158K	$38K	10x	as long as short
dYdX BNB-USD	+0.0143%	1h	784.84	−0.139%	$157K	$64K	10x	as long as short
BloFin BNB-USDT	+0.0154%	8h	785.98	+0.005%	$17.8M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0165%	8h	786.04	+0.013%	$68.5M	$51.1M	50x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	786.31	+0.048%	$1.5M	$141K	25x
Bulk BNB-USD	+0.0212%	1h	785.97	+0.004%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	785.24	−0.089%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.01	−0.118%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	784.99	−0.120%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	785.84	−0.013%	$67K	$39K	12x	as long as short