Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0409%/8h= −44.8% APRpaid last 24h −0.125%

Price spread now: GMX against Binance−0.079%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and GMX is 0.079% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	799.28	0.0075	pay 0.0075% / 8h	7h 16m	$496.3M	$811.0M	75x
Short	GMX BNB/USD [WBTC.b-USDC]	798.65	L −0.0159% / S +0.0335%	pay 0.0042% / 1h	16m 25s	$47K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$85.96
Price spread: −0.079% → 0.000%: −$7.92
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$115.88
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 13 min ago; GMX: no order-book sample. Net counts fees only.

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 Binance live order book, 13 min ago	0.06 bp	5.1 bp −$5	6.5 bp −$65	16.6 bp −$1,656	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]short	L −0.0159% / S +0.0335%	1h	798.65	−0.079%	$47K	—	200x
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.97	−0.165%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.43	−0.106%	$4K	$239	25x	as long as short
Gate BNB_USDT	0.0000%	8h	798.50	−0.098%	$35.9M	$56.8M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.85	−0.054%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.98	−0.038%	$863K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0004%	8h	797.72	−0.195%	$4.1M	$5.0M	—	as long as short
BingX BNB-USDC	+0.0007%	8h	797.66	−0.203%	—	$13.3M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.65	−0.079%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0028%	8h	798.75	−0.066%	$69.7M	$50.2M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BNBUSDT	+0.0030%	8h	798.50	−0.098%	$138.6M	$76.3M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.727%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.026%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0052%	8h	799.35	+0.009%	$6.1M	$19.4M	200x	as long as short
MEXC BNB_USDT	+0.0074%	8h	799.70	+0.053%	$83.2M	$13.7M	200x	as long as short
Binance BNBUSDTlong	+0.0075%	8h	799.28	long leg	$496.3M	$811.0M	75x
Lighter BNB	+0.0096%	1h	798.88	−0.050%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.13	−0.019%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.45	−0.104%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.98	−0.037%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.50	−0.098%	$54.2M	$110.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	−0.023%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.68	−0.075%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.45	−0.104%	$78.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.91	−0.047%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.95	−0.041%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.67	−0.076%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.73	−0.069%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.16	−0.140%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.71	−0.072%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.20	−0.135%	$392K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.76	−0.190%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.39	+0.013%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.43	−0.106%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.82	−0.057%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.185%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.90	−0.047%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0158%	8h	798.70	−0.073%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	798.84	−0.055%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0198%	1h	798.51	−0.096%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.33	+0.006%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	798.45	−0.104%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0280%	1h	797.79	−0.187%	$68K	$38K	12x	as long as short
Hyperliquid BNB	+0.0293%	1h	799.60	+0.040%	$53.1M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.46	−0.103%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	799.14	−0.018%	$2.7M	$5.7M	40x	as long as short