Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.061%

Price spread now: gTrade (Gains Network) against BloFin−0.069%7-day average −0.090% · 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−$280as in the Price arb table

costs, in and out, $10k−$2822.823% of the position

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.204%−$20 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.069%, 7d avg −0.090%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.021% dearer against BloFin than usual: you sell high and buy low (spread −0.069% now, against its 7-day average of −0.090%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	787.43	0.0165	pay 0.0165% / 8h	7h 50m	$17.8M	$2.2M	75x
Short	gTrade (Gains Network) BNB/USD	786.89	L +0.0007% / S −0.0007%	get 0.0001% / 1h	50m 42s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.069%Rate

Funding earned: −$33.06
Price spread: −0.069% → −0.090%: $2.11
Slippage, 4 orders: −$260.27
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$313.22
Costs to cover: 2.823%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 BloFin live order book, 3 min ago	0.13 bp	6.1 bp −$6	7.5 bp −$75	14.9 bp −$1,491	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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 −0.0168% / S +0.0337%	1h	786.85	−0.073%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.17	−0.033%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	786.80	−0.080%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.65	−0.100%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	787.07	−0.046%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	786.89	−0.069%	$9.5M	—	150x
Aster BNBUSDT	+0.0029%	8h	787.53	+0.013%	$6.0M	$18.5M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.243%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0037%	8h	787.22	−0.027%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0045%	8h	787.51	+0.010%	$489.9M	$812.2M	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	+0.0045%	8h	788.30	+0.110%	$82.0M	$12.1M	200x	as long as short
dYdX BNB-USD	+0.0059%	1h	787.07	−0.046%	$158K	$63K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.12	−0.039%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.25	−0.150%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.49	+0.008%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.65	−0.100%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.90	−0.067%	$138.6M	$73.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.80	−0.080%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.90	−0.067%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.10	−0.042%	$39.1M	$55.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.56	−0.110%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.60	−0.105%	$75.5M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.31	−0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.62	−0.103%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.52	−0.115%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.37	−0.135%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.05	−0.048%	$132K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.97	−0.058%	$265K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.49	−0.119%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.52	+0.012%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	−0.055%	$387K	$951K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.86	−0.072%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.94	−0.062%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.60	−0.105%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.93	−0.063%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0111%	8h	787.00	−0.055%	$171K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	−0.107%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.53	−0.114%	$158K	$38K	10x	as long as short
BloFin BNB-USDTlong	+0.0165%	8h	787.43	long leg	$17.8M	$2.2M	75x
Phemex BNBUSDT	+0.0176%	8h	787.55	+0.015%	$68.7M	$51.1M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.40	−0.004%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0208%	1h	785.85	−0.200%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.41	−0.003%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	786.61	−0.104%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.11	−0.040%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	786.50	−0.118%	$67K	$39K	12x	as long as short