Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.018%

Price spread now: Deribit against edgeX+0.077%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)−0.433%−$43 · spread now +0.077%, 7d avg −0.024%

Together, before fees−0.333%+ Points / potential airdropedgeX: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.101% dearer against edgeX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.024%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% 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	edgeX BNBUSDC	791.77	0.0100	pay 0.0050% / 4h	1h 10m	$4.1M	$74.5M	30x
Short	Deribit BNB_USDC-PERPETUAL	792.38	0.0300	get 0.0037% / 1h	10m 34s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.077%Rate

Funding earned: $42
Price spread: +0.077% → −0.024%: $10.07
Slippage, 4 orders: −$13
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $23.07
Costs to cover: 0.290%
Break-even: 3.2 days

Slippage from edgeX: live order book, 4 min ago; Deribit: live order book, 3 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	1.89 bp	6.4 bp −$6	6.4 bp −$64	9.8 bp −$982	doesn't fit
Sell Deribit live order book, 3 min ago	2.72 bp	7.5 bp −$7	11.5 bp −$115	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 −0.0167% / S +0.0335%	1h	791.63	−0.018%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	792.54	+0.097%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.31	+0.068%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.70	−0.009%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.682%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.033%	$615K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0048%	8h	792.43	+0.083%	$69.4M	$50.5M	50x	as long as short
Aster BNBUSDT	+0.0051%	8h	792.69	+0.116%	$6.2M	$18.6M	200x	as long as short
BingX BNB-USDT	+0.0060%	8h	792.24	+0.059%	—	$34.3M	—	as long as short
MEXC BNB_USDT	+0.0072%	8h	793.00	+0.155%	$80.6M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0072%	8h	792.68	+0.115%	$495.2M	$790.3M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.71	−0.007%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	792.33	+0.070%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.90	+0.016%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.95	+0.022%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	792.65	+0.111%	$52.0M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	792.36	+0.074%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	792.01	+0.030%	$139.4M	$76.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.00	+0.029%	$53.8M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.20	+0.054%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	792.05	+0.035%	$35.5M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.96	+0.024%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.52	−0.032%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	792.32	+0.069%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.10	−0.085%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	791.77	long leg	$4.1M	$74.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	791.88	+0.014%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.99	+0.027%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	792.07	+0.038%	$32K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.20	+0.054%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	792.00	+0.029%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.78	+0.001%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.70	+0.117%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.75	−0.003%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.89	+0.015%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.53	−0.031%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0143%	8h	791.96	+0.024%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0186%	8h	792.20	+0.054%	$82K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0192%	8h	792.33	+0.070%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0195%	1h	791.84	+0.009%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	792.65	+0.111%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0300%	1h	792.38	+0.077%	$1.5M	$143K	25x
Reya BNBRUSDPERP	+0.0327%	1h	791.57	−0.025%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	792.40	+0.080%	$1.1M	$982K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.052%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	791.66	−0.015%	$68K	$38K	12x	as long as short