Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.061%

Price spread now: BingX against Bulk+0.038%7-day average −0.082% · 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−$7as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Bulk Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.254%−$25 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.038%, 7d avg −0.082%

Together, before fees−0.395%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.120% dearer against Bulk than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.082%): +$12 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	789.78	0.0272	pay 0.0034% / 1h	43m 55s	$640K	$9K	10x
Short	BingX BNB-USDT	790.08	0.0054	get 0.0054% / 8h	4h 43m	—	$34.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bulk. 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 BulkbpFee BingXbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$45.87
Price spread: +0.038% → −0.082%: $12.03
Slippage, 4 orders: −$1.59
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$52.42
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Bulk: live order book, 15 min ago; BingX: live order book, 10 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 Bulk live order book, 15 min ago	0.06 bp	3.7 bp −$4	4.7 bp −$47	9.3 bp −$926	18.0 bp −$9,016
Sell BingX live order book, 10 min ago	0.13 bp	5.8 bp −$6	6.9 bp −$69	13.8 bp −$1,382	30.7 bp −$15.4K

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 −0.0184% / S +0.0349%	1h	789.94	+0.020%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.65	−0.016%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.01	+0.029%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.99	+0.027%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.939%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	790.56	+0.099%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDTshort	+0.0054%	8h	790.08	+0.038%	—	$34.3M	—
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.042%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.80	+0.129%	$80.3M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	790.55	+0.097%	$493.3M	$789.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	790.69	+0.115%	$69.2M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.19	+0.052%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.12	+0.043%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.00	−0.098%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.45	+0.085%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.81	+0.003%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.70	−0.010%	$138.9M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.70	−0.010%	$53.4M	$111.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.00	+0.028%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.85	+0.009%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.80	+0.003%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.63	−0.019%	$76.5M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.53	+0.095%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.50	−0.162%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.10	−0.086%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.58	−0.025%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.76	−0.003%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.18	+0.051%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.63	+0.107%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.20	+0.053%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.91	+0.017%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.26	+0.061%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.44	−0.043%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.12	+0.043%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.31	−0.060%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.05	−0.092%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0134%	8h	789.57	−0.027%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0182%	8h	790.10	+0.041%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	789.81	+0.004%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	790.45	+0.085%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.88	+0.012%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USDlong	+0.0272%	1h	789.78	long leg	$640K	$9K	10x
Reya BNBRUSDPERP	+0.0326%	1h	789.59	−0.025%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	790.55	+0.097%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0461%	1h	790.17	+0.050%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	789.22	−0.070%	$67K	$38K	12x	as long as short