Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.012%

Price spread now: Derive against BingX−0.037%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Derive is 0.037% cheaper against BingX than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 45 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDT	787.35	0.0034	pay 0.0034% / 8h	2h 59m	—	$22.3M	—
Short	Derive BNB-PERP	787.06	0.0100	get 0.0013% / 1h	59m 44s	$31K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against BingX. 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 BingXbpFee DerivebpOrdersPrice spread, now −0.037%Rate

Funding earned: $13.86
Price spread: −0.037% → 0.000%: −$3.67
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$5.81
Costs to cover: 0.160%
Break-even: 9.9 days

Slippage unknown: BingX: live order book, 9 min ago; Derive: 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 BingX live order book, 9 min ago	0.13 bp	5.7 bp −$6	6.3 bp −$63	11.0 bp −$1,104	24.1 bp −$12.1K
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 −0.0192% / S +0.0356%	1h	786.84	−0.064%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	786.96	−0.050%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.33	−0.003%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.50	+0.019%	$122K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.93	+0.074%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.91	−0.056%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0025%	8h	787.84	+0.062%	$6.1M	$19.1M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.253%	$19K	$789K	30x	as long as short
BingX BNB-USDTlong	+0.0034%	8h	787.35	long leg	—	$22.3M	—
MEXC BNB_USDT	+0.0044%	8h	788.20	+0.108%	$79.9M	$12.1M	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	+0.0046%	8h	787.86	+0.065%	$490.4M	$804.5M	75x	as long as short
Phemex BNBUSDT	+0.0052%	8h	787.70	+0.044%	$68.9M	$50.7M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.21	−0.018%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0083%	1h	786.57	−0.100%	$159K	$61K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.26	−0.011%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.64	+0.037%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.96	−0.050%	$265K	$491K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.75	−0.076%	$1.5M	$2.6M	20x	as long as short
Pacifica BNB	+0.0100%	1h	787.25	−0.012%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.10	−0.032%	$138.3M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.10	−0.032%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.30	−0.006%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.10	−0.032%	$36.2M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.99	−0.046%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.92	−0.055%	$76.2M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.57	+0.028%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.81	−0.068%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	+0.013%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.41	+0.008%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.92	−0.055%	$132K	$956K	10x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	787.06	−0.037%	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	787.70	+0.045%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.006%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.00	−0.044%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.46	+0.014%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.89	−0.059%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.01	−0.043%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0164%	8h	787.75	+0.051%	$17.7M	$2.2M	75x	as long as short
Hyperliquid BNB	+0.0168%	1h	787.84	+0.062%	$51.7M	$17.5M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0185%	8h	787.96	+0.078%	$2.9M	$28.9M	10x	as long as short
Bulk BNB-USD	+0.0223%	1h	788.23	+0.112%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.86	+0.065%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.50	+0.020%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	786.80	−0.069%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0431%	1h	787.38	+0.004%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0440%	1h	787.22	−0.016%	$67K	$39K	12x	as long as short