Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0331%/8h= −36.3% APRpaid last 24h −0.025%

Price spread now: OKX against RISEx−0.057%7-day average −0.025% · 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−$25as in the Price arb table

costs, in and out, $10k−$220.215% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.116%−$12 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.057%, 7d avg −0.025%

Together, before fees−0.125%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and OKX is 0.033% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.116% in total (about -11.7% 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	787.85	0.0431	pay 0.0054% / 1h	16m 32s	$1.1M	$893K	20x
Short	OKX BNB-USDT-SWAP	787.40	0.0100	get 0.0100% / 8h	3h 16m	$53.4M	$111.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$69.58
Price spread: −0.057% → −0.025%: −$3.29
Slippage, 4 orders: −$5.52
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.39
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; OKX: 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 RISEx live order book, 2 min ago	1.84 bp	4.8 bp −$5	8.5 bp −$85	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.63 bp	5.6 bp −$6	7.2 bp −$72	21.8 bp −$2,180	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 −0.0192% / S +0.0356%	1h	787.61	−0.031%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.73	−0.015%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.97	+0.015%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.20	+0.044%	$126K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.39	+0.068%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.68	−0.022%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0022%	8h	788.15	+0.038%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.188%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0034%	8h	787.57	−0.036%	—	$22.3M	—	as long as short
Binance BNBUSDT	+0.0042%	8h	788.16	+0.039%	$491.4M	$801.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0042%	8h	788.40	+0.069%	$79.9M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0043%	8h	788.00	+0.019%	$68.9M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.19	−0.084%	$588K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0087%	1h	787.24	−0.077%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.84	−0.002%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.57	−0.036%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.72	−0.017%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.40	−0.057%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.92	+0.009%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.71	−0.018%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.42	−0.055%	$138.5M	$73.9M	75x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	787.40	−0.057%	$53.4M	$111.6M	50x
Arcus BNB-USD	+0.0100%	1h	787.60	−0.032%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.45	−0.051%	$36.0M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.43	−0.054%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.20	−0.083%	$76.2M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.72	−0.017%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.056%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.05	+0.025%	$4.1M	$74.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.89	+0.005%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.42	−0.055%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.74	−0.014%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.20	+0.044%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.90	+0.006%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.63	−0.029%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.89	+0.005%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.18	−0.085%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.70	−0.019%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0162%	8h	788.00	+0.019%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0175%	8h	788.39	+0.068%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0193%	1h	788.28	+0.055%	$638K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.10	+0.031%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.11	+0.032%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.30	−0.070%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	787.87	+0.002%	$67K	$39K	12x	as long as short
RISEx BNB/USDClong	+0.0431%	1h	787.85	long leg	$1.1M	$893K	20x