Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h +0.019%

Price spread now: Bybit against gTrade (Gains Network)+0.063%7-day average −0.009% · 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−$277as in the Price arb table

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.042%+$4 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.063%, 7d avg −0.009%

Together, before fees−0.045%−$5 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 Bybit is 0.072% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BNB/USD	784.31	L +0.0007% / S −0.0007%	pay 0.0001% / 1h	38m 41s	$9.5M	—	150x
Short	Bybit BNBUSDT	784.80	0.0100	get 0.0100% / 8h	2h 38m	$137.8M	$74.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.063%Rate

Funding earned: $19.43
Price spread: +0.063% → −0.009%: $7.23
Slippage, 4 orders: −$263.05
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$257.4
Costs to cover: 2.841%
Break-even: 99.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), just now; Bybit: live order book, 5 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), just now	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2253.7 bp −$1.13M
Sell Bybit live order book, 5 min ago	0.64 bp	6.9 bp −$7	9.7 bp −$97	23.9 bp −$2,391	106.3 bp −$53.2K

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	−0.014%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.37	+0.008%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.26	+0.122%	$847K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0007% / S −0.0007%	1h	784.31	long leg	$9.5M	—	150x
Aster BNBUSDT	+0.0028%	8h	785.38	+0.137%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.650%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0041%	8h	784.59	+0.036%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	785.60	+0.165%	$79.6M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	785.65	+0.172%	$489.2M	$808.5M	75x	as long as short
Phemex BNBUSDT	+0.0052%	8h	784.63	+0.041%	$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	−0.017%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.52	+0.027%	$576K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0089%	1h	784.38	+0.010%	$159K	$61K	10x	as long as short
Lighter BNB	+0.0096%	1h	784.88	+0.073%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.38	+0.009%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.85	−0.058%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.24	+0.119%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.02	+0.091%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	784.80	+0.063%	$137.8M	$74.5M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	+0.037%	$53.2M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.10	+0.101%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.70	+0.050%	$36.2M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.42	+0.014%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.50	+0.025%	$75.9M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.64	+0.042%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	+0.015%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.49	+0.278%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.35	+0.133%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.86	−0.057%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.57	+0.034%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.95	+0.082%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.50	+0.025%	$386K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.03	−0.036%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.11	+0.102%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.54	+0.030%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.46	+0.020%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.21	+0.115%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0134%	8h	785.00	+0.088%	$140K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0171%	8h	784.84	+0.068%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.79	+0.061%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	785.56	+0.160%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.245%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.64	+0.170%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	783.92	−0.050%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.25	+0.120%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	785.20	+0.114%	$67K	$39K	12x	as long as short