Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.004%

Price spread now: edgeX against Phemex+0.020%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.020%, 7d avg 0.000%

Together, before fees+0.088%+ Points / potential airdropedgeX: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	787.07	0.0075	pay 0.0075% / 8h	1h 47m	$68.9M	$51.1M	50x
Short	edgeX BNBUSDC	787.23	0.0100	get 0.0050% / 4h	1h 47m	$4.1M	$75.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phemex. 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 PhemexbpFee edgeXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $5.29
Price spread: +0.020% → 0.000%: $1.96
Slippage, 4 orders: −$6.03
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$19.78
Costs to cover: 0.270%
Break-even: 33.2 days

Slippage from Phemex: live order book, 7 min ago; edgeX: live order book, 2 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 Phemex live order book, 7 min ago	0.06 bp	6.7 bp −$7	8.1 bp −$81	12.7 bp −$1,273	doesn't fit
Sell edgeX live order book, 2 min ago	2.54 bp	7.0 bp −$7	7.0 bp −$70	10.9 bp −$1,086	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 −0.0170% / S +0.0337%	1h	786.42	−0.083%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.95	−0.015%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.44	+0.047%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.46	−0.078%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.290%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	787.21	+0.017%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	786.69	−0.048%	—	$22.2M	—	as long as short
dYdX BNB-USD	+0.0062%	1h	786.47	−0.077%	$159K	$62K	10x	as long as short
MEXC BNB_USDT	+0.0066%	8h	787.60	+0.067%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	787.15	+0.010%	$490.4M	$816.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDTlong	+0.0075%	8h	787.07	long leg	$68.9M	$51.1M	50x
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.56	−0.065%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.73	−0.043%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.54	−0.067%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	−0.053%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.84	−0.029%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.46	−0.078%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.085%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−0.034%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	−0.066%	$37.1M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.27	−0.102%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.41	−0.084%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.52	−0.070%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	787.23	+0.020%	$4.1M	$75.9M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	787.07	0.000%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.45	−0.079%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.73	−0.044%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.05	−0.003%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.60	−0.060%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.78	−0.036%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.89	−0.023%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.23	−0.106%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.56	−0.065%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0129%	1h	787.27	+0.026%	$51.5M	$17.6M	10x	as long as short
Phoenix BNB	+0.0135%	1h	787.01	−0.008%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	787.20	+0.017%	$170K	$2.7M	4.8x	as long as short
Backpack BNB_USDC_PERP	+0.0157%	1h	786.95	−0.015%	$2.2M	$6.1M	40x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.17	+0.013%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.95	−0.016%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.37	−0.089%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.27	+0.025%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	787.15	+0.010%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.31	−0.097%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.017%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.88	−0.025%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	787.52	+0.057%	$67K	$39K	12x	as long as short