Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.048%

Price spread now: Bulk against edgeX−0.051%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−$210.213% of the position

Long on edgeX Short on Bulk

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)+0.223%+$22 · spread now −0.051%, 7d avg +0.019%

Together, before fees+0.458%+ Points / potential airdropedgeX: Active · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.070% cheaper against edgeX than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.019%). If the spread goes back, that is −$7 on $10k: about 32 hours of funding at the current rate (+$5 a day). 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	edgeX BNBUSDC	790.18	0.0100	pay 0.0050% / 4h	40m 34s	$4.1M	$73.5M	30x
Short	Bulk BNB-USD	789.78	0.0272	get 0.0034% / 1h	40m 34s	$640K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against edgeX. 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 edgeXbpFee BulkbpOrdersPrice spread, now −0.051%Rate

Funding earned: $36.21
Price spread: −0.051% → +0.019%: −$6.98
Slippage, 4 orders: −$5.34
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $7.89
Costs to cover: 0.213%
Break-even: 5.5 days

Slippage from edgeX: live order book, 4 min ago; Bulk: live order book, 18 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 edgeX live order book, 4 min ago	2.53 bp	7.0 bp −$7	7.0 bp −$70	10.7 bp −$1,070	doesn't fit
Sell Bulk live order book, 18 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	6.0 bp −$601	15.9 bp −$7,951

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	789.30	−0.112%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.44	+0.033%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.66	+0.061%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.35	−0.104%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.887%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	790.05	−0.016%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	789.96	−0.028%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.092%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	791.00	+0.104%	$80.3M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	790.76	+0.073%	$493.4M	$789.5M	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	+0.0073%	8h	790.08	−0.013%	$69.1M	$50.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.26	+0.010%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.55	−0.080%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.95	−0.156%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.61	+0.054%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.30	+0.015%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.87	−0.039%	$138.9M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.80	−0.048%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.30	+0.015%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.95	−0.029%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.81	−0.047%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.78	−0.051%	$76.4M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.92	−0.033%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.90	−0.161%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	790.18	long leg	$4.1M	$73.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	789.85	−0.042%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.23	−0.120%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.64	−0.069%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.06	−0.016%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.60	−0.073%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.39	−0.100%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.61	+0.055%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.65	−0.067%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.52	−0.083%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.39	−0.100%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0125%	1h	789.65	−0.067%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.89	−0.036%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0181%	8h	789.70	−0.061%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0186%	8h	790.09	−0.011%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	790.65	+0.060%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.26	−0.117%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USDshort	+0.0272%	1h	789.78	−0.051%	$640K	$9K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.96	−0.028%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.90	−0.163%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	790.46	+0.035%	$1.1M	$973K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	789.46	−0.091%	$67K	$38K	12x	as long as short