Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.030%

Price spread now: MEXC against gTrade (Gains Network)+0.127%7-day average +0.209% · 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−$286as in the Price arb table

costs, in and out, $10k−$2782.777% of the position

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 7 days+0.099%+$10 · spread now +0.127%, 7d avg +0.209%

Together, before fees+0.177%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.083% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.127% now, against its 7-day average of +0.209%). If the spread goes back, that is −$8 on $10k: about 5.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BNB/USD	789.80	L +0.0007% / S −0.0007%	pay 0.0001% / 1h	52m 27s	$9.5M	—	150x
Short	MEXC BNB_USDT	790.80	0.0057	get 0.0057% / 8h	3h 52m	$80.2M	$12.0M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.127%Rate

Funding earned: $10.4
Price spread: +0.127% → +0.209%: −$8.25
Slippage, 4 orders: −$263.72
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$275.57
Costs to cover: 2.777%
Break-even: 192.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; MEXC: live order book, 2 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), 2 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 MEXC live order book, 2 min ago	1.26 bp	4.4 bp −$4	8.5 bp −$85	18.5 bp −$1,846	33.8 bp −$16.9K

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 −0.0191% / S +0.0355%	1h	789.65	−0.019%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	790.15	+0.044%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.37	+0.072%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.06	+0.033%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0007% / S −0.0007%	1h	789.80	long leg	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.936%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	790.88	+0.136%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	790.41	+0.077%	—	$13.4M	—	as long as short
MEXC BNB_USDTshort	+0.0057%	8h	790.80	+0.127%	$80.2M	$12.0M	200x
Binance BNBUSDT	+0.0057%	8h	790.90	+0.139%	$494.0M	$795.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0061%	8h	790.66	+0.109%	$69.1M	$50.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	789.35	−0.057%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	+0.076%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	790.41	+0.077%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.09	+0.037%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.10	+0.038%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.73	+0.118%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.43	+0.080%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.20	+0.051%	$139.0M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.20	+0.051%	$53.5M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.40	+0.076%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.25	+0.057%	$35.7M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.14	+0.043%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.60	−0.025%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.56	+0.096%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.062%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.17	+0.047%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.54	+0.094%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.10	+0.038%	$130K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.19	+0.050%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.58	+0.099%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.20	+0.051%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.89	+0.011%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	790.65	+0.108%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.93	+0.017%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.02	+0.029%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	789.80	0.000%	$135K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.96	+0.020%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0163%	8h	789.64	−0.021%	$2.9M	$28.5M	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	790.49	+0.087%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	790.66	+0.109%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	790.89	+0.138%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.57	+0.097%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.65	−0.018%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	790.08	+0.035%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	790.63	+0.106%	$1.1M	$892K	20x	as long as short