Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0113%/8h= +12.4% APRpaid last 24h −0.118%

Price spread now: GRVT against dYdX+0.150%50s7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.609% of the position

Long on dYdX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.440%−$44 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.150%, 7d avg +0.101%

Together, before fees−0.420%+ Points / potential airdropGRVT: Active · farm board−$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.049% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.101%. Mind the row above: over the last 7 days funding on this pair cost −0.440%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	784.38	0.0089	pay 0.0011% / 1h	38m 35s	$159K	$61K	10x
Short	GRVT BNB_USDT_Perp	785.56	0.0202	get 0.0202% / 8h	2h 38m	$2.9M	$29.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against dYdX. 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 dYdXbpFee GRVTbpOrdersPrice spread, now +0.150%Rate

Funding earned: $23.78
Price spread: +0.150% → +0.101%: $4.92
Slippage, 4 orders: −$41.93
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$32.23
Costs to cover: 0.609%
Break-even: 16.5 days

Slippage from dYdX: live order book, 10 min ago; GRVT: live order book, 6 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 dYdX live order book, 10 min ago	11.80 bp	26.3 bp −$26	147.9 bp −$1,479	224.5 bp −$22.5K	443.5 bp −$221.8K
Sell GRVT live order book, 6 min ago	0.06 bp	4.6 bp −$5	7.0 bp −$70	22.6 bp −$2,257	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	784.20	−0.023%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.37	−0.002%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.26	+0.112%	$847K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.31	−0.010%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	785.38	+0.127%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.640%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0041%	8h	784.59	+0.026%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	785.60	+0.155%	$79.6M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	785.65	+0.162%	$489.2M	$808.5M	75x	as long as short
Phemex BNBUSDT	+0.0052%	8h	784.63	+0.032%	$68.7M	$50.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.18	−0.026%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.52	+0.018%	$576K	$1.9M	50x	as long as short
dYdX BNB-USDlong	+0.0089%	1h	784.38	long leg	$159K	$61K	10x
Lighter BNB	+0.0096%	1h	784.88	+0.063%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.38	0.000%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.85	−0.068%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.24	+0.109%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.02	+0.081%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.80	+0.053%	$137.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	+0.028%	$53.2M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.10	+0.091%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.70	+0.040%	$36.2M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.42	+0.005%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.50	+0.015%	$75.9M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.64	+0.033%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	+0.006%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.49	+0.269%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.35	+0.123%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.86	−0.067%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.57	+0.024%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.95	+0.072%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.50	+0.015%	$386K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.03	−0.045%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.11	+0.092%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.54	+0.020%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.46	+0.010%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.21	+0.106%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0134%	8h	785.00	+0.079%	$140K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0171%	8h	784.84	+0.058%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.79	+0.052%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perpshort	+0.0202%	8h	785.56	+0.150%	$2.9M	$29.3M	10x
Bulk BNB-USD	+0.0256%	1h	786.23	+0.236%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.64	+0.160%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	783.92	−0.059%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.25	+0.110%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	785.20	+0.104%	$67K	$39K	12x	as long as short