Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.100%

Price spread now: edgeX against dYdX−0.006%7-day average +0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.415%−$41 on $10k

Price spread, last 4 days (all we have)+0.267%+$27 · spread now −0.006%, 7d avg +0.081%

Together, before fees−0.148%+ Points / potential airdropedgeX: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and edgeX is 0.086% cheaper against dYdX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.081%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	788.95	0.0222	pay 0.0028% / 1h	52m 45s	$160K	$64K	10x
Short	edgeX BNBUSDC	788.90	0.0100	get 0.0050% / 4h	1h 52m	$4.1M	$76.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against dYdX. 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 dYdXbpFee edgeXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$25.69
Price spread: −0.006% → +0.081%: −$8.65
Slippage, 4 orders: −$38.36
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$91.7
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from dYdX: live order book, 11 min ago; edgeX: live order book, 1 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 dYdX live order book, 11 min ago	16.57 bp	21.7 bp −$22	36.4 bp −$364	71.0 bp −$7,100	395.5 bp −$197.8K
Sell edgeX live order book, 1 min ago	2.53 bp	7.0 bp −$7	7.0 bp −$70	10.2 bp −$1,018	doesn't fit

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	789.57	+0.079%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.63	−0.040%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.27	+0.041%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.71	+0.097%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.046%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	790.56	+0.205%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.66	+0.091%	$619K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0054%	8h	790.08	+0.144%	—	$34.5M	—	as long as short
Variational Omni BNB	+0.0066%	8h	789.32	+0.047%	$4.1M	$4.8M	—	as long as short
Phemex BNBUSDT	+0.0067%	8h	790.33	+0.175%	$69.2M	$50.8M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0069%	8h	790.90	+0.248%	$80.6M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0070%	8h	790.68	+0.220%	$494.6M	$808.8M	75x	as long as short
Gate BNB_USDT	+0.0080%	8h	789.90	+0.121%	$35.3M	$56.4M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.71	+0.096%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.08	+0.144%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.77	+0.104%	$382K	$380K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.90	−0.006%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.57	+0.206%	$51.8M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.34	+0.050%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.00	+0.134%	$138.8M	$77.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.90	+0.121%	$53.5M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.50	+0.070%	$52K	$130K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.78	+0.106%	$27.8M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.80	+0.108%	$77.0M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.19	+0.158%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	788.90	−0.006%	$4.1M	$76.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	788.22	−0.092%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.21	+0.033%	$137K	$945K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.96	+0.128%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.87	+0.117%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.41	+0.059%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	789.99	+0.133%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.70	+0.096%	$1.8M	$5.9M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0104%	8h	788.27	−0.085%	$2.9M	$27.9M	10x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.93	+0.125%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	789.07	+0.016%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0144%	1h	789.90	+0.121%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	789.80	+0.108%	$90K	$2.8M	4.8x	as long as short
dYdX BNB-USDlong	+0.0222%	1h	788.95	long leg	$160K	$64K	10x
01 Exchange BNBUSD	+0.0312%	1h	789.99	+0.132%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	789.05	+0.014%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0340%	1h	789.39	+0.056%	$639K	$13K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.66	+0.091%	$1.1M	$1.1M	20x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	790.29	+0.171%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	789.01	+0.008%	$67K	$39K	12x	as long as short