Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0349%/8h= −38.2% APRpaid last 24h −0.032%

Price spread now: BingX against Deribit−0.089%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and BingX is 0.089% cheaper against Deribit than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.150% in total (about -7.8% 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	Deribit BNB_USDC-PERPETUAL	790.17	0.0400	pay 0.0050% / 1h	3m 09s	$1.5M	$160K	25x
Short	BingX BNB-USDC	789.47	0.0051	get 0.0051% / 8h	6h 03m	—	$13.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$73.29
Price spread: −0.089% → 0.000%: −$8.91
Slippage, 4 orders: −$14.54
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$113.74
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Deribit: live order book, 6 min ago; BingX: 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 Deribit live order book, 6 min ago	2.41 bp	5.9 bp −$6	12.6 bp −$126	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	0.32 bp	8.4 bp −$8	12.7 bp −$127	27.9 bp −$2,793	72.5 bp −$36.3K

BNB on 45 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 −0.0167% / S +0.0335%	1h	789.40	−0.098%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	789.66	−0.065%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.11	−0.008%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.96	+0.099%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.52	−0.083%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.888%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0035%	8h	790.32	+0.019%	$6.2M	$19.2M	200x	as long as short
BingX BNB-USDCshort	+0.0051%	8h	789.47	−0.089%	—	$13.3M	—
Variational Omni BNB	+0.0055%	8h	789.21	−0.122%	$4.1M	$4.8M	—	as long as short
Phemex BNBUSDT	+0.0055%	8h	790.07	−0.013%	$69.1M	$50.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	789.70	−0.060%	$619K	$1.8M	50x	as long as short
Gate BNB_USDT	+0.0063%	8h	789.50	−0.085%	$35.2M	$58.0M	75x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.30	+0.016%	$80.4M	$13.2M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	790.06	−0.015%	$494.5M	$817.1M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.43	−0.094%	$170K	$36K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0095%	8h	789.99	−0.023%	$2.9M	$28.4M	10x	as long as short
Lighter BNB	+0.0096%	1h	789.96	−0.028%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.61	−0.071%	$382K	$386K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.85	−0.041%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.17	−0.001%	$51.8M	$18.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.94	−0.030%	$1.2M	$920K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.40	−0.098%	$138.9M	$79.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.40	−0.098%	$53.4M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.00	−0.022%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.26	−0.116%	$27.8M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.26	−0.116%	$77.4M	$30.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.48	−0.088%	$4.1M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.73	−0.056%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.60	−0.073%	$138K	$947K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.75	−0.054%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.24	+0.008%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.65	−0.067%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.53	+0.045%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.36	−0.103%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.69	−0.061%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0109%	1h	789.56	−0.078%	$160K	$64K	10x	as long as short
SoDEX BNB-USD	+0.0112%	1h	789.80	−0.047%	$388K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	790.14	−0.004%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0174%	8h	790.30	+0.016%	$92K	$2.9M	4.8x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	790.39	+0.027%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	789.80	−0.047%	$640K	$13K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	789.30	−0.110%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0387%	1h	790.02	−0.020%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0400%	1h	790.17	long leg	$1.5M	$160K	25x
Hibachi BNB/USDT-P	+0.0520%	1h	790.12	−0.007%	$68K	$39K	12x	as long as short