BingX vs Risex Funding Arbitrage
15 shared markets · net of estimated fees · updated every few minutesBingX and Risex both quote 15 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is HYPE — long Risex / short BingX at 13.0% net APR — but the median across all shared markets is 5.5%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 7 markets go long on BingX and 8 on Risex. 8 markets clear 5% net APR, 5 clear 10%.
How this pair behaves
BingX pays funding every 4h on 251 markets and every 8h on 79 markets; Risex pays every 1h on 43 markets. The two clocks differ, so one leg settles while the other is still accruing: a position held for only a few hours can pay one side without ever collecting from the other. BingX quotes 332 perpetual markets in total and Risex quotes 43; the 15 they share are what this page ranks. Across its own book BingX runs a median funding rate of 10.9% and Risex 0.0% — the two sit on opposite sides of zero, which is why this combination throws up spreads at all.
Spreads by market
top 15 of 15 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| ENA | Risex | BingX | 25.1% | 27.8% | +8.9% | $148K |
| WLD | BingX | Risex | 20.0% | 22.9% | -3.0% | $787K |
| HYPE | Risex | BingX | 13.0% | 15.4% | -0.8% | $3.9M |
| ARB | BingX | Risex | 11.6% | 14.3% | -4.9% | $243K |
| ETH | BingX | Risex | 10.4% | 12.4% | -7.7% | $9.8M |
| SOL | Risex | BingX | 7.8% | 9.9% | +10.2% | $1.3M |
| ZRO | BingX | Risex | 5.9% | 8.5% | +20.2% | $624K |
| NEAR | BingX | Risex | 5.5% | 8.2% | -0.7% | $1.9M |
| AAVE | Risex | BingX | 4.8% | 7.3% | +4.4% | $126K |
| PUMP | Risex | BingX | 4.1% | 6.9% | -3.0% | $616K |
| AERO | BingX | Risex | 2.8% | 5.5% | -15.1% | $361K |
| BNB | Risex | BingX | 2.1% | 4.4% | -1.6% | $897K |
| ONDO | Risex | BingX | 2.1% | 4.8% | +1.2% | $160K |
| ZEC | BingX | Risex | 1.7% | 3.8% | -10.2% | $1.9M |
| TAO | Risex | BingX | 0.9% | 3.3% | +8.6% | $198K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
BingX vs Risex — FAQ
How many markets can you arbitrage between BingX and Risex?
15 perpetual markets are quoted on both BingX and Risex right now. 8 of them show a net spread of at least 5% APR after estimated fees, and 5 have at least $1M of 24h volume on the smaller leg.
What is the best BingX / Risex funding spread right now?
HYPE: long Risex and short BingX for about 13.0% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 15 shared markets is 5.5%, so the top of the list is not typical.
Which side pays on the BingX / Risex pair?
It varies by market: BingX is the long (funding-receiving) leg in 7 of the shared markets and Risex in the other 8. The direction is set per market by which venue currently prices funding lower.
Trading the BingX / Risex spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: BingX funding rates · Risex funding rates; the full calculation is in the methodology.