Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h +0.013%

Price spread now: RISEx against Orderly+0.038%7-day average −0.009% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.102%+$10 on $10k

Price spread, last 4 days (all we have)+0.260%+$26 · spread now +0.038%, 7d avg −0.009%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and RISEx is 0.047% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	790.25	0.0100	pay 0.0100% / 8h	5h 04m	$266K	$498K	50x
Short	RISEx BNB/USDC	790.55	0.0361	get 0.0045% / 1h	4m 15s	$1.1M	$979K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Orderly. 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 OrderlybpFee RISExbpOrdersPrice spread, now +0.038%Rate

Funding earned: $54.77
Price spread: +0.038% → −0.009%: $4.72
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: $47.49
Costs to cover: 0.120%
Break-even: 0.9 days

Slippage unknown: Orderly: no order-book sample; RISEx: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell RISEx live order book, 4 min ago	0.38 bp	3.4 bp −$3	7.0 bp −$70	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0181% / S +0.0346%	1h	790.20	−0.006%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.66	+0.052%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.62	+0.047%	$854K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.16	−0.011%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.878%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	790.72	+0.060%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	790.10	−0.019%	$590K	$1.9M	50x	as long as short
Phemex BNBUSDT	+0.0058%	8h	790.73	+0.061%	$69.3M	$50.3M	50x	as long as short
BingX BNB-USDT	+0.0058%	8h	790.35	+0.013%	—	$34.3M	—	as long as short
MEXC BNB_USDT	+0.0070%	8h	791.00	+0.095%	$80.4M	$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	+0.0071%	8h	790.87	+0.078%	$493.9M	$791.6M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	790.26	+0.001%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.46	+0.026%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	790.25	long leg	$266K	$498K	50x
Nado BNB-PERP	+0.0100%	1h	789.95	−0.038%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.68	+0.055%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.46	+0.027%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.00	−0.032%	$139.0M	$76.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.00	−0.032%	$53.4M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.40	+0.019%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.05	−0.025%	$35.4M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.04	−0.027%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.83	−0.053%	$76.6M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.58	+0.042%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.30	−0.121%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.12	+0.110%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.37	+0.142%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.10	−0.019%	$133K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.40	+0.019%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.72	+0.060%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.40	+0.019%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.17	−0.010%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	790.89	+0.081%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.75	−0.063%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.10	−0.019%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.39	+0.018%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0141%	8h	791.87	+0.206%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERP	+0.0185%	8h	790.00	−0.032%	$104K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0189%	1h	790.34	+0.012%	$160K	$64K	10x	as long as short
BloFin BNB-USDT	+0.0191%	8h	790.95	+0.089%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	790.79	+0.068%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.67	+0.053%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.75	−0.063%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0338%	1h	790.78	+0.067%	$640K	$9K	10x	as long as short
RISEx BNB/USDCshort	+0.0361%	1h	790.55	+0.038%	$1.1M	$979K	20x
Hibachi BNB/USDT-P	+0.0576%	1h	790.19	−0.008%	$67K	$38K	12x	as long as short