Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0330%/8h= −36.1% APRpaid last 24h −0.040%

Price spread now: edgeX against Backpack−0.080%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Backpack Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 7 days+0.375%+$38 · spread now −0.080%, 7d avg −0.071%

Together, before fees+0.269%+ Points / potential airdropedgeX: Active · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.071%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.106% in total (about -5.5% 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	Backpack BNB_USDC_PERP	799.38	0.0430	pay 0.0054% / 1h	9m 23s	$2.7M	$5.7M	40x
Short	edgeX BNBUSDC	798.74	0.0100	get 0.0050% / 4h	3h 09m	$4.1M	$75.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Backpack. 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 BackpackbpFee edgeXbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$69.25
Price spread: −0.080% → −0.071%: −$0.85
Slippage, 4 orders: −$8.91
Fee Backpack: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$98.01
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; edgeX: 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 Backpack live order book, 5 min ago	0.31 bp	5.7 bp −$6	8.5 bp −$85	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	2.50 bp	7.0 bp −$7	7.0 bp −$70	10.8 bp −$1,080	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 −0.0159% / S +0.0335%	1h	798.71	−0.084%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.26	−0.141%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.16	−0.028%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.74	+0.045%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.03	−0.044%	$863K	$2.9M	30x	as long as short
Phemex BNBUSDT	+0.0002%	8h	798.97	−0.051%	$69.8M	$50.1M	50x	as long as short
Gate BNB_USDT	+0.0005%	8h	798.20	−0.148%	$35.9M	$57.0M	75x	as long as short
Variational Omni BNB	+0.0008%	8h	797.92	−0.183%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.33	−0.131%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.714%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDT	+0.0035%	8h	798.60	−0.098%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.039%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	799.17	−0.026%	$6.1M	$19.4M	200x	as long as short
Bybit BNBUSDT	+0.0072%	8h	798.30	−0.135%	$138.6M	$76.0M	75x	as long as short
MEXC BNB_USDT	+0.0072%	8h	799.50	+0.015%	$83.1M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0072%	8h	798.91	−0.059%	$496.3M	$808.5M	75x	as long as short
Lighter BNB	+0.0096%	1h	798.84	−0.068%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.02	−0.045%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.40	−0.123%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.93	−0.057%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.30	−0.135%	$54.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	−0.035%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.43	−0.119%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.24	−0.143%	$78.2M	$28.0M	75x	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	798.74	−0.080%	$4.1M	$75.9M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	798.57	−0.101%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.58	−0.100%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.33	−0.131%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.74	−0.080%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.36	−0.003%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	−0.110%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.40	−0.122%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.45	+0.008%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.52	−0.108%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.57	−0.101%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.198%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.93	−0.057%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	798.60	−0.098%	$90K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0191%	1h	798.50	−0.110%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0193%	8h	798.69	−0.086%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.99	−0.049%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0287%	1h	799.35	−0.004%	$53.1M	$20.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.04	−0.042%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0328%	1h	798.97	−0.051%	$68K	$38K	12x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.21	−0.146%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERPlong	+0.0430%	1h	799.38	long leg	$2.7M	$5.7M	40x