Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0164%/8h= +17.9% APRpaid last 24h +0.066%

Price spread now: BloFin against gTrade (Gains Network)+0.070%50s7-day average +0.090% · you sell dearer than you buy

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−$2822.824% of the position

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.187%+$19 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.070%, 7d avg +0.090%

Together, before fees+0.158%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.021% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.070% now, against its 7-day average of +0.090%). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$5 a day). 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	gTrade (Gains Network) BNB/USD	786.20	L +0.0007% / S −0.0007%	pay 0.0001% / 1h	35m 58s	$9.5M	—	150x
Short	BloFin BNB-USDT	786.75	0.0171	get 0.0171% / 8h	2h 35m	$17.8M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now +0.070%Rate

Funding earned: $34.41
Price spread: +0.070% → +0.090%: −$2.05
Slippage, 4 orders: −$260.35
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$250
Costs to cover: 2.824%
Break-even: 57.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; BloFin: 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2253.7 bp −$1.13M
Sell BloFin live order book, 3 min ago	0.13 bp	6.1 bp −$6	7.3 bp −$73	14.5 bp −$1,451	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	786.17	−0.004%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.80	+0.076%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.68	+0.061%	$848K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0007% / S −0.0007%	1h	786.20	long leg	$9.5M	—	150x
Aster BNBUSDT	+0.0029%	8h	787.25	+0.133%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.402%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0041%	8h	786.41	+0.026%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0045%	8h	786.79	+0.075%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0051%	8h	787.70	+0.190%	$79.8M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	787.20	+0.127%	$490.1M	$808.8M	75x	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	786.25	+0.007%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.23	+0.003%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.45	+0.031%	$2.7M	$3.8M	20x	as long as short
dYdX BNB-USD	+0.0098%	1h	786.41	+0.026%	$159K	$61K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.28	+0.010%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	+0.019%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.12	+0.117%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.63	+0.054%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.55	+0.044%	$138.1M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.60	+0.050%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.063%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.50	+0.038%	$36.3M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.42	+0.028%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.41	+0.026%	$76.1M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.59	+0.049%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	−0.022%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.75	−0.185%	$4.1M	$74.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.85	−0.172%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.32	+0.015%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.42	+0.028%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.78	+0.073%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.30	+0.012%	$387K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.53	+0.042%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.80	+0.076%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.45	+0.031%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.26	+0.008%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.21	−0.126%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0144%	8h	786.80	+0.076%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDTshort	+0.0171%	8h	786.75	+0.070%	$17.8M	$2.2M	75x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.69	+0.062%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	784.74	−0.186%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.003%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	787.17	+0.123%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.01	−0.024%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.85	+0.082%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0480%	1h	786.12	−0.011%	$67K	$39K	12x	as long as short