Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.056%

Price spread now: Gate against Bulk−0.056%7-day average −0.112% · 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−$21as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Bulk Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.234%−$23 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.056%, 7d avg −0.112%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.056% dearer against Bulk than usual: you sell high and buy low (spread −0.056% now, against its 7-day average of −0.112%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	801.15	0.0289	pay 0.0036% / 1h	0m 33s	$651K	$20K	10x
Short	Gate BNB_USDT	800.70	0.0100	get 0.0100% / 8h	1h 00m	$35.8M	$59.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bulk. 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 BulkbpFee GatebpOrdersPrice spread, now −0.056%Rate

Funding earned: −$39.74
Price spread: −0.056% → −0.112%: $5.62
Slippage, 4 orders: −$4.43
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.54
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Bulk: live order book, 18 min ago; Gate: live order book, 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 Bulk live order book, 18 min ago	0.06 bp	3.6 bp −$4	3.9 bp −$39	6.9 bp −$692	15.1 bp −$7,525
Sell Gate live order book, 3 min ago	0.63 bp	9.3 bp −$9	11.4 bp −$114	25.9 bp −$2,591	55.7 bp −$27.9K

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 −0.0201% / S +0.0372%	1h	800.39	−0.095%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.44	+0.036%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.22	−0.116%	$3.0M	$28.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	801.41	+0.032%	$866K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.43	−0.089%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0028%	8h	798.74	−0.301%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0052%	8h	801.12	−0.004%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	800.73	−0.052%	$139.2M	$78.8M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.34	+0.024%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	800.11	−0.130%	$607K	$996K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0099%	8h	801.72	+0.071%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.87	−0.035%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.29	+0.017%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.80	−0.044%	$54.8M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.50	+0.044%	$53K	$134K	10x	as long as short
Gate BNB_USDTshort	+0.0100%	8h	800.70	−0.056%	$35.8M	$59.2M	75x
KuCoin BNBUSDTM	+0.0100%	8h	801.01	−0.017%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.91	−0.030%	$80.8M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.55	−0.075%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	−0.074%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.15	0.000%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.38	−0.096%	$387K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.61	−0.067%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.19	+0.005%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.41	−0.093%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.63	+0.060%	$78K	$19K	50x	as long as short
SoDEX BNB-USD	+0.0104%	1h	800.50	−0.081%	$394K	$1.0M	10x	as long as short
Extended BNB-USD	+0.0104%	1h	800.59	−0.069%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.59	−0.070%	$385K	$40K	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	801.00	−0.019%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0114%	8h	801.03	−0.015%	$70.0M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0118%	8h	802.20	+0.131%	$83.3M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0120%	8h	801.81	+0.082%	$501.8M	$818.5M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.047%	$172K	$35K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	800.38	−0.096%	$2.6M	$966K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.23	+0.010%	$18.3M	$2.5M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	800.59	−0.070%	$71K	$48K	12x	as long as short
Bulk BNB-USDlong	+0.0289%	1h	801.15	long leg	$651K	$20K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	800.95	−0.025%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.492%	$19K	$789K	30x	as long as short
Hyperliquid BNB	+0.0317%	1h	801.87	+0.090%	$51.9M	$21.6M	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.24	+0.011%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	802.05	+0.112%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	800.83	−0.040%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0368%	1h	800.88	−0.034%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0556%	1h	801.75	+0.075%	$2.7M	$5.7M	40x	as long as short