Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0206%/8h= +22.6% APRpaid last 24h −0.008%

Price spread now: Injective against SunX+0.773%61s7-day average −0.424% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.249%−$25 on $10k

Price spread, last 3 days (all we have)−1.280%−$128 · spread now +0.773%, 7d avg −0.424%

Together, before fees−1.529%−$153 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 1.197% dearer against SunX than usual: you sell high and buy low: +$120 more if the spread goes back to its 7-day average of −0.424%. Mind the row above: over the last 7 days funding on this pair cost −0.249%, so the current rate has only just turned in your favour. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	798.92	0.0100	pay 0.0100% / 8h	26m 00s	$13K	$1.7M	50x
Short	Injective BNB/USDC PERP	805.09	0.0306	get 0.0038% / 1h	26m 00s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.773%Rate

Funding earned: $43.29
Price spread: +0.773% → −0.424%: $119.66
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $154.93
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 9 min ago; Injective: no order-book sample. Net counts fees only.

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, 9 min ago	15.06 bp	23.7 bp −$24	39.0 bp −$390	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0201% / S +0.0372%	1h	798.27	−0.081%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.81	−0.013%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	797.76	−0.145%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.28	+0.171%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.62	+0.088%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.36	−0.069%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0013%	8h	798.06	−0.107%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0038%	8h	798.19	−0.091%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0045%	8h	797.77	−0.144%	$138.4M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	+0.122%	$606K	$986K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0091%	8h	798.59	−0.041%	$6.3M	$18.9M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.28	−0.080%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.04	−0.110%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.78	−0.017%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	797.90	−0.127%	$54.2M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.80	−0.015%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	797.95	−0.121%	$35.7M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	797.96	−0.120%	$27.9M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.73	−0.149%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.89	+0.122%	$4.2M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.17	+0.157%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.27	−0.081%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.91	−0.126%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.01	−0.113%	$32K	$5K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	798.92	long leg	$13K	$1.7M	50x
SoDEX BNB-USD	+0.0100%	1h	798.10	−0.102%	$392K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.32	−0.075%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.52	−0.050%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.00	+0.010%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.62	−0.163%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.14	−0.097%	$383K	$40K	10x	as long as short
Binance BNBUSDT	+0.0112%	8h	798.73	−0.024%	$498.7M	$817.2M	75x	as long as short
Phemex BNBUSDT	+0.0112%	8h	798.48	−0.055%	$69.8M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0113%	8h	799.10	+0.023%	$82.9M	$13.5M	200x	as long as short
Kalshi KXBNBPERP	+0.0122%	8h	799.70	+0.098%	$110K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	800.12	+0.151%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	798.93	+0.001%	$70K	$43K	12x	as long as short
Hyperliquid BNB	+0.0180%	1h	798.70	−0.027%	$52.1M	$21.3M	10x	as long as short
BloFin BNB-USDT	+0.0233%	8h	799.57	+0.082%	$18.3M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0239%	1h	800.03	+0.140%	$650K	$19K	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.57	−0.044%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	799.02	+0.013%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERPshort	+0.0306%	1h	805.09	+0.773%	$19K	$789K	30x
Reya BNBRUSDPERP	+0.0331%	1h	797.89	−0.129%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0384%	1h	798.50	−0.052%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0402%	1h	798.75	−0.021%	$2.7M	$5.7M	40x	as long as short