Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.027%

Price spread now: OKX against gTrade (Gains Network)+0.021%7-day average −0.022% · 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−$279as in the Price arb table

costs, in and out, $10k−$2832.832% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.088%+$9 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.021%, 7d avg −0.022%

Together, before fees+0.057%+$6 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 OKX is 0.043% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BNB/USD	796.93	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	5m 44s	$9.7M	—	150x
Short	OKX BNB-USDT-SWAP	797.10	0.0100	get 0.0100% / 8h	7h 05m	$54.2M	$110.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $19.39
Price spread: +0.021% → −0.022%: $4.31
Slippage, 4 orders: −$263.21
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$259.5
Costs to cover: 2.832%
Break-even: 100.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; OKX: 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 OKX live order book, 3 min ago	0.63 bp	7.6 bp −$8	9.8 bp −$98	21.9 bp −$2,193	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 −0.0159% / S +0.0335%	1h	796.96	+0.003%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.29	+0.045%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	797.44	+0.064%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0013%	8h	796.85	−0.010%	$35.8M	$57.1M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.15	+0.279%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	797.80	+0.109%	$862K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0008% / S −0.0007%	1h	796.93	long leg	$9.7M	—	150x
Variational Omni BNB	+0.0009%	8h	796.50	−0.054%	$4.1M	$5.1M	—	as long as short
Phemex BNBUSDT	+0.0020%	8h	797.53	+0.075%	$69.6M	$50.2M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.024%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0045%	8h	797.57	+0.080%	$6.1M	$19.5M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	+0.084%	$610K	$1.1M	50x	as long as short
BingX BNB-USDC	+0.0057%	8h	797.38	+0.056%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0070%	8h	797.71	+0.098%	$496.5M	$810.5M	75x	as long as short
MEXC BNB_USDT	+0.0071%	8h	798.10	+0.147%	$83.0M	$13.7M	200x	as long as short
Bybit BNBUSDT	+0.0074%	8h	797.00	+0.009%	$138.5M	$76.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	797.39	+0.057%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.02	+0.262%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	796.95	+0.003%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.40	+0.059%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	797.10	+0.021%	$54.2M	$110.7M	50x
Arcus BNB-USD	+0.0100%	1h	797.50	+0.072%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	796.98	+0.006%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	796.81	−0.015%	$78.1M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.04	+0.265%	$4.2M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.32	+0.300%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	796.73	−0.025%	$113K	$885K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	796.86	−0.009%	$385K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	797.05	+0.015%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	797.67	+0.093%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	797.20	+0.034%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	796.83	−0.012%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	797.88	+0.120%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	796.85	−0.010%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	796.95	+0.002%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.221%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.43	+0.062%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	797.60	+0.084%	$89K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0187%	1h	796.86	−0.009%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0191%	8h	797.85	+0.115%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	797.12	+0.024%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	797.40	+0.060%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0283%	1h	797.89	+0.121%	$53.0M	$20.1M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	796.48	−0.056%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0368%	1h	797.68	+0.095%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0427%	1h	797.89	+0.120%	$2.7M	$5.7M	40x	as long as short