Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h +0.003%

Price spread now: GRVT against gTrade (Gains Network)+0.102%68s7-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−$2792.791% of the position

Long on gTrade (Gains Network)Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.054%+$5 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now +0.102%, 7d avg +0.090%

Together, before fees+0.032%+ Points / potential airdropGRVT: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BNB/USD	799.25	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	9m 57s	$9.7M	—	150x
Short	GRVT BNB_USDT_Perp	800.06	0	get 0.0000% / 8h	1h 09m	$3.0M	$29.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$1.64
Price spread: +0.102% → +0.090%: $1.2
Slippage, 4 orders: −$260.14
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$279.58
Costs to cover: 2.791%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 4 min ago; GRVT: live order book, 4 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), 4 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 GRVT live order book, 4 min ago	0.06 bp	4.6 bp −$5	4.9 bp −$49	doesn't fit	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 −0.0201% / S +0.0372%	1h	799.24	−0.001%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.96	+0.089%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perpshort	0.0000%	8h	800.06	+0.102%	$3.0M	$29.4M	10x
Kalshi KXBNBPERP	0.0000%	8h	800.00	+0.094%	$129K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	800.46	+0.152%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0008% / S −0.0007%	1h	799.25	long leg	$9.7M	—	150x
Variational Omni BNB	+0.0030%	8h	799.14	−0.013%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0055%	8h	799.47	+0.028%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0065%	8h	799.00	−0.031%	$139.1M	$78.7M	75x	as long as short
Aster BNBUSDT	+0.0095%	8h	799.95	+0.087%	$6.3M	$19.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	799.62	+0.047%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	+0.240%	$610K	$994K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.25	+0.001%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.65	+0.050%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.00	−0.031%	$54.6M	$115.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.90	+0.082%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.05	−0.025%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.21	−0.005%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.12	−0.016%	$80.8M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.31	+0.133%	$4.2M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.33	+0.135%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.35	+0.013%	$121K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.34	+0.012%	$386K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.44	+0.024%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.97	+0.091%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.50	+0.032%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.32	+0.010%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.07	+0.103%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.91	−0.042%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.41	+0.021%	$384K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	800.40	+0.144%	$83.2M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0116%	8h	800.02	+0.097%	$502.5M	$818.2M	75x	as long as short
Phemex BNBUSDT	+0.0116%	8h	799.89	+0.080%	$69.9M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	800.04	+0.099%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0200%	1h	799.74	+0.061%	$71K	$49K	12x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.29	+0.005%	$2.6M	$969K	50x	as long as short
BloFin BNB-USDT	+0.0236%	8h	800.21	+0.120%	$18.3M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0298%	1h	800.20	+0.120%	$650K	$21K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.77	+0.065%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.731%	$19K	$789K	30x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	800.20	+0.119%	$28K	$1K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	799.70	+0.057%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0320%	1h	800.16	+0.114%	$51.8M	$21.9M	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	798.92	−0.041%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0337%	1h	799.94	+0.087%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0574%	1h	800.20	+0.119%	$2.7M	$5.7M	40x	as long as short