Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0122%/8h= −13.3% APRpaid last 24h −0.048%

Price spread now: edgeX against Bulk0.000%56s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.201% of the position

Long on Bulk Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.235%−$23 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now 0.000%, 7d avg −0.019%

Together, before fees−0.407%+ Points / potential airdropedgeX: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 56 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	Bulk BNB-USD	790.13	0.0222	pay 0.0028% / 1h	23m 54s	$640K	$9K	10x
Short	edgeX BNBUSDC	790.13	0.0100	get 0.0050% / 4h	23m 54s	$4.1M	$73.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$25.52
Price spread: 0.000% → −0.019%: $1.9
Slippage, 4 orders: −$4.07
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$43.69
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Bulk: live order book, 35 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 Bulk live order book, 35 min ago	0.06 bp	3.7 bp −$4	4.7 bp −$47	9.3 bp −$926	18.0 bp −$9,016
Sell edgeX live order book, 5 min ago	1.89 bp	6.4 bp −$6	6.4 bp −$64	10.2 bp −$1,021	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 −0.0187% / S +0.0351%	1h	789.27	−0.108%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.89	−0.030%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.60	−0.067%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.29	−0.106%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.894%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	789.87	−0.033%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0053%	8h	789.46	−0.085%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	789.94	−0.024%	$69.1M	$49.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.086%	$582K	$1.9M	50x	as long as short
Binance BNBUSDT	+0.0064%	8h	789.96	−0.022%	$493.3M	$790.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0065%	8h	790.20	+0.009%	$80.2M	$12.4M	200x	as long as short
Lighter BNB	+0.0096%	1h	789.47	−0.083%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.36	−0.097%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.45	−0.086%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.94	−0.024%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.52	−0.077%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.30	−0.105%	$138.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.30	−0.105%	$53.4M	$111.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	−0.067%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.30	−0.105%	$35.5M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.26	−0.110%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.06	−0.135%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.72	−0.052%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.00	−0.142%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	790.13	0.000%	$4.1M	$73.1M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	789.94	−0.024%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.19	−0.119%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.43	−0.088%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.96	−0.021%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.50	−0.079%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.38	−0.094%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.13	0.000%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.04	−0.137%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.23	−0.113%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	791.77	+0.208%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0134%	1h	789.35	−0.098%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0145%	8h	790.08	−0.006%	$2.9M	$28.5M	10x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	790.10	−0.004%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	790.17	+0.005%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USDlong	+0.0222%	1h	790.13	long leg	$640K	$9K	10x
01 Exchange BNBUSD	+0.0232%	1h	789.94	−0.024%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.28	−0.107%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.76	−0.046%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	789.05	−0.136%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	789.56	−0.072%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.56	−0.072%	$1.1M	$967K	20x	as long as short