Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%

Price spread now: Deribit against SunX−0.091%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.091%, 7d avg −0.032%

Together, before fees+0.212%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.059% cheaper against SunX than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of −0.032%). If the spread goes back, that is −$6 on $10k: about 47 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.102% in total) that is about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	788.29	0.0100	pay 0.0100% / 8h	1h 57m	$12K	$1.5M	50x
Short	Deribit BNB_USDC-PERPETUAL	787.58	0.0200	get 0.0025% / 1h	57m 45s	$1.5M	$143K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.091%Rate

Funding earned: $21
Price spread: −0.091% → −0.032%: −$5.91
Slippage, 4 orders: −$48.43
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$48.34
Costs to cover: 0.634%
Break-even: 23.1 days

Slippage from SunX: live order book, 7 min ago; Deribit: live order book, 1 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 SunX live order book, 7 min ago	15.07 bp	22.0 bp −$22	30.0 bp −$300	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	3.43 bp	7.3 bp −$7	10.6 bp −$106	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 −0.0192% / S +0.0356%	1h	787.32	−0.123%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	−0.023%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.08	−0.027%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.25	−0.132%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.131%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0045%	8h	787.82	−0.060%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	787.59	−0.089%	—	$22.2M	—	as long as short
dYdX BNB-USD	+0.0060%	1h	787.75	−0.069%	$160K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0066%	8h	787.83	−0.059%	$68.9M	$50.9M	50x	as long as short
MEXC BNB_USDT	+0.0067%	8h	788.40	+0.013%	$81.0M	$11.9M	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	+0.0067%	8h	787.74	−0.070%	$490.3M	$815.7M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.011%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.16	−0.144%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.25	−0.133%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	−0.082%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	788.18	−0.015%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.50	−0.101%	$138.6M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.40	−0.114%	$53.6M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	−0.012%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.45	−0.107%	$37.0M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.10	−0.152%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.06	−0.157%	$76.2M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.64	−0.083%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.80	−0.062%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.41	+0.015%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.40	+0.013%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.78	−0.065%	$132K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.39	−0.114%	$31K	$12K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	788.29	long leg	$12K	$1.5M	50x
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.126%	$387K	$987K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.50	−0.101%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.23	−0.008%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.17	−0.143%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.25	−0.132%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.39	+0.012%	$169K	$34K	10x	as long as short
Kalshi KXBNBPERP	+0.0136%	8h	788.20	−0.012%	$169K	$2.7M	4.8x	as long as short
Hyperliquid BNB	+0.0183%	1h	788.14	−0.020%	$51.6M	$17.7M	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.88	−0.053%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	787.58	−0.091%	$1.5M	$143K	25x
Kraken Futures PF_BNBUSD	+0.0206%	1h	787.08	−0.154%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	788.63	+0.043%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	788.56	+0.034%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.40	−0.114%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.035%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.28	−0.002%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0568%	1h	787.53	−0.097%	$67K	$39K	12x	as long as short