Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against edgeX−0.147%68s7-day average −0.069% · 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—prices read too far apart to compare

costs, in and out, $10k−$2842.841% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.086%−$9 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.147%, 7d avg −0.069%

Together, before fees+0.012%+ Points / potential airdropedgeX: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.078% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.069%). Swap the legs. The two prices were read 68 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	edgeX BNBUSDC	789.79	0.0100	pay 0.0050% / 4h	3h 57m	$4.1M	$73.3M	30x
Short	gTrade (Gains Network) BNB/USD	788.63	L +0.0007% / S −0.0007%	get 0.0001% / 1h	57m 49s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against edgeX. 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 edgeXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.147%Rate

Funding earned: −$19.49
Price spread: −0.147% → −0.069%: −$7.81
Slippage, 4 orders: −$265.08
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$311.38
Costs to cover: 2.841%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; gTrade (Gains Network): virtual book (oracle venue), 1 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 edgeX live order book, 1 min ago	2.53 bp	7.0 bp −$7	7.0 bp −$70	10.9 bp −$1,085	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 1 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 −0.0190% / S +0.0354%	1h	788.55	−0.156%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.89	−0.114%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.15	−0.081%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.40	−0.049%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	788.63	−0.147%	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.937%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	789.49	−0.038%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	789.23	−0.071%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0058%	8h	789.56	−0.029%	$492.9M	$793.0M	75x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.47	−0.040%	$69.0M	$50.3M	50x	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	+0.0058%	8h	789.90	+0.014%	$80.1M	$12.0M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	789.35	−0.056%	$580K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.02	−0.098%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.75	−0.132%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.65	−0.144%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.51	−0.035%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.10	−0.087%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.90	−0.113%	$138.8M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.80	−0.125%	$53.4M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.20	−0.075%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.00	−0.100%	$35.6M	$56.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.91	−0.111%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.64	−0.146%	$76.3M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.34	−0.057%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	−0.086%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	789.79	long leg	$4.1M	$73.3M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	789.32	−0.059%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.54	−0.158%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.86	−0.117%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.28	−0.064%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.90	−0.113%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.84	−0.120%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.17	−0.079%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.63	−0.146%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.77	−0.129%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.25	−0.068%	$170K	$34K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0157%	8h	789.58	−0.026%	$2.9M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0164%	1h	789.25	−0.068%	$160K	$64K	10x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	789.20	−0.075%	$135K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0178%	8h	789.86	+0.009%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	−0.154%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	789.27	−0.066%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.16	−0.079%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.45	−0.169%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0368%	1h	789.41	−0.048%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	789.06	−0.092%	$1.1M	$902K	20x	as long as short