Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0338%/8h= −37.0% APRpaid last 24h −0.034%

Price spread now: edgeX against RISEx+0.033%55s7-day average +0.049% · you sell dearer than you buy

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−$200.201% of the position

Long on RISEx Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.124%−$12 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.033%, 7d avg +0.049%

Together, before fees−0.143%+ Points / potential airdropedgeX: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.049%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.124% in total (about -12.2% 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	RISEx BNB/USDC	787.69	0.0438	pay 0.0055% / 1h	16m 27s	$1.1M	$915K	20x
Short	edgeX BNBUSDC	787.95	0.0100	get 0.0050% / 4h	1h 16m	$4.1M	$76.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against RISEx. 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 RISExbpFee edgeXbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$71.01
Price spread: +0.033% → +0.049%: −$1.53
Slippage, 4 orders: −$5.07
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$92.6
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; edgeX: 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 RISEx live order book, 2 min ago	0.06 bp	3.1 bp −$3	6.4 bp −$64	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	1.90 bp	6.4 bp −$6	6.4 bp −$64	10.3 bp −$1,033	doesn't fit

BNB on 45 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	787.40	−0.037%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.96	+0.034%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.18	+0.062%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.47	−0.028%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.209%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.65	−0.005%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0051%	8h	788.01	+0.040%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0061%	8h	788.50	+0.103%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	787.91	+0.028%	$490.4M	$820.6M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	+0.034%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.09	+0.051%	$68.9M	$51.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.050%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.70	+0.001%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.056%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.10	+0.051%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.84	+0.019%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.050%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.050%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.011%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.45	−0.030%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.08	−0.077%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.19	−0.063%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.11	+0.053%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.035%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	787.95	+0.033%	$4.1M	$76.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	+0.063%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.30	−0.050%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.48	−0.027%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.99	+0.038%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.011%	$387K	$979K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.80	+0.013%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.16	+0.060%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.02	−0.085%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.51	−0.023%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0125%	8h	787.90	+0.027%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	+0.001%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	788.16	+0.060%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.88	+0.024%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.50	−0.024%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.28	+0.075%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.23	+0.069%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.080%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.12	−0.072%	$6K	$3K	40x	as long as short
RISEx BNB/USDClong	+0.0438%	1h	787.69	long leg	$1.1M	$915K	20x
Hibachi BNB/USDT-P	+0.0496%	1h	787.60	−0.011%	$67K	$39K	12x	as long as short