Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h −0.102%

Price spread now: SunX against dYdX+0.035%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$900.898% of the position

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.414%−$41 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now +0.035%, 7d avg +0.074%

Together, before fees−0.423%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SunX is 0.040% cheaper against dYdX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.074%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	797.56	0.0187	pay 0.0023% / 1h	4m 01s	$161K	$63K	10x
Short	SunX BNB-USDT	797.83	0.0100	get 0.0100% / 8h	7h 04m	$13K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$18.27
Price spread: +0.035% → +0.074%: −$3.98
Slippage, 4 orders: −$71.79
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$112.04
Costs to cover: 0.898%
Break-even: never at this rate

Slippage from dYdX: live order book, 5 min ago; SunX: live order book, 11 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, 5 min ago	14.44 bp	19.5 bp −$19	37.4 bp −$374	83.1 bp −$8,309	123.3 bp −$61.7K
Sell SunX live order book, 11 min ago	15.06 bp	23.5 bp −$24	30.6 bp −$306	doesn't fit	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 −0.0159% / S +0.0335%	1h	797.42	−0.018%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	796.89	−0.083%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	797.81	+0.032%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0009%	8h	796.30	−0.158%	$35.8M	$57.2M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.15	+0.200%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	797.92	+0.046%	$862K	$3.0M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	797.49	−0.008%	$69.6M	$50.2M	50x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.48	−0.010%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	796.50	−0.132%	$4.1M	$5.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.945%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0045%	8h	797.51	−0.005%	$6.1M	$19.5M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	+0.005%	$610K	$1.1M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	796.78	−0.097%	—	$34.9M	—	as long as short
MEXC BNB_USDT	+0.0069%	8h	797.60	+0.005%	$82.9M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0069%	8h	797.16	−0.049%	$496.2M	$810.9M	75x	as long as short
Bybit BNBUSDT	+0.0075%	8h	796.41	−0.144%	$138.5M	$76.3M	75x	as long as short
Lighter BNB	+0.0096%	1h	797.14	−0.052%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	797.27	−0.036%	$171K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.30	−0.032%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.72	+0.021%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	796.00	−0.195%	$54.1M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	797.80	+0.031%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	797.18	−0.047%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	796.25	−0.164%	$78.0M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	797.71	+0.019%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.32	+0.221%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	797.37	−0.023%	$111K	$887K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.40	−0.020%	$385K	$467K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	797.42	−0.018%	$32K	$9K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	797.83	+0.035%	$13K	$1.6M	50x
SoDEX BNB-USD	+0.0100%	1h	797.30	−0.032%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	796.96	−0.075%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.28	+0.091%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	796.87	−0.085%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	797.31	−0.031%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.142%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.62	+0.008%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0164%	8h	797.90	+0.043%	$104K	$2.8M	4.8x	as long as short
dYdX BNB-USDlong	+0.0187%	1h	797.56	long leg	$161K	$63K	10x
BloFin BNB-USDT	+0.0190%	8h	797.60	+0.005%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.09	+0.067%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	797.76	+0.026%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0281%	1h	797.29	−0.033%	$53.0M	$20.1M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.10	−0.058%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0384%	1h	797.27	−0.035%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	797.55	−0.001%	$2.7M	$5.7M	40x	as long as short