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: SunX against gTrade (Gains Network)+0.184%54s7-day average +0.080% · 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−$3153.152% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.091%+$9 on $10k

Price spread, last 3 days (all we have)−0.166%−$17 · spread now +0.184%, 7d avg +0.080%

Together, before fees−0.075%−$8 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 SunX is 0.105% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.080%. The two prices were read 54 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	798.75	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	38m 28s	$9.7M	—	150x
Short	SunX BNB-USDT	800.22	0.0100	get 0.0100% / 8h	7h 38m	$13K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.184%Rate

Funding earned: $19.39
Price spread: +0.184% → +0.080%: $10.45
Slippage, 4 orders: −$297.24
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$285.4
Costs to cover: 3.152%
Break-even: 110.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 1 min ago; SunX: live order book, 7 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), 1 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 SunX live order book, 7 min ago	15.07 bp	23.5 bp −$23	30.7 bp −$307	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	798.71	−0.005%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.62	−0.016%	$2.5M	$976K	50x	as long as short
BingX BNB-USDC	−0.0094%	8h	799.04	+0.037%	—	$13.3M	—	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.21	+0.058%	$4K	$239	25x	as long as short
Bybit BNBUSDT	−0.0055%	8h	798.42	−0.041%	$138.7M	$75.8M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.99	+0.155%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.07	+0.166%	$865K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	799.34	+0.074%	$69.8M	$50.5M	50x	as long as short
Variational Omni BNB	+0.0005%	8h	798.83	+0.010%	$4.1M	$5.3M	—	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0008% / S −0.0007%	1h	798.75	long leg	$9.7M	—	150x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.794%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.00	−0.094%	$601K	$969K	50x	as long as short
Aster BNBUSDT	+0.0067%	8h	799.25	+0.063%	$6.2M	$19.1M	200x	as long as short
Gate BNB_USDT	+0.0079%	8h	798.55	−0.025%	$35.7M	$56.1M	75x	as long as short
Binance BNBUSDT	+0.0087%	8h	799.23	+0.060%	$496.2M	$808.3M	75x	as long as short
MEXC BNB_USDT	+0.0088%	8h	799.50	+0.094%	$83.1M	$13.5M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.97	+0.028%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.66	+0.114%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.40	−0.044%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.96	+0.026%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.50	−0.031%	$54.1M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.00	+0.032%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.66	−0.011%	$28.0M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.50	−0.031%	$78.8M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.66	+0.114%	$4.2M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.38	+0.079%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.62	−0.016%	$118K	$871K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.81	+0.008%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.96	+0.026%	$32K	$5K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	800.22	+0.184%	$13K	$1.7M	50x
SoDEX BNB-USD	+0.0100%	1h	799.00	+0.032%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.23	+0.061%	$1.6M	$160K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.12	+0.046%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.55	+0.101%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.33	−0.052%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.86	+0.014%	$384K	$108K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.69	+0.118%	$649K	$10K	10x	as long as short
Hibachi BNB/USDT-P	+0.0144%	1h	799.27	+0.065%	$69K	$37K	12x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.84	+0.011%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0157%	8h	799.70	+0.119%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0208%	8h	799.52	+0.097%	$18.1M	$2.4M	75x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	799.03	+0.035%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0268%	1h	798.82	+0.009%	$161K	$63K	10x	as long as short
Hyperliquid BNB	+0.0317%	1h	799.52	+0.097%	$53.1M	$20.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.28	−0.059%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0402%	1h	799.58	+0.104%	$2.7M	$5.6M	40x	as long as short