Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.061%

Price spread now: Bybit against GMX+0.016%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	797.78	L −0.0159% / S +0.0335%	get 0.0020% / 1h	18m 12s	$47K	—	200x
Short	Bybit BNBUSDT	797.91	0.0013	get 0.0013% / 8h	7h 18m	$138.6M	$76.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now +0.016%Rate

Funding earned: $36.18
Price spread: +0.016% → 0.000%: $1.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $14.82
Costs to cover: 0.230%
Break-even: 4.1 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 1 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.63 bp	6.1 bp −$6	8.8 bp −$88	23.8 bp −$2,383	108.9 bp −$54.4K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]long	L −0.0159% / S +0.0335%	1h	797.78	long leg	$47K	—	200x
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.96	+0.023%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	797.57	−0.026%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0011%	8h	797.95	+0.021%	$35.9M	$56.8M	75x	as long as short
BingX BNB-USDC	−0.0007%	8h	797.45	−0.041%	—	$13.3M	—	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.85	+0.134%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.12	+0.168%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0004%	8h	797.72	−0.008%	$4.1M	$5.0M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.76	−0.002%	$9.7M	—	150x	as long as short
Bybit BNBUSDTshort	+0.0013%	8h	797.91	+0.016%	$138.6M	$76.3M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0030%	8h	798.80	+0.128%	$69.8M	$50.2M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.916%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.162%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0053%	8h	797.76	−0.002%	$6.1M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	798.74	+0.120%	$495.9M	$811.7M	75x	as long as short
MEXC BNB_USDT	+0.0076%	8h	798.80	+0.128%	$83.1M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.07	+0.037%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.13	+0.169%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	796.70	−0.135%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.18	−0.076%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.10	+0.040%	$54.1M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	797.40	−0.048%	$52K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.09	+0.039%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.87	+0.011%	$78.1M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.91	+0.141%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.95	+0.147%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	797.26	−0.065%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.96	+0.023%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.11	+0.041%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.58	+0.100%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.10	+0.040%	$392K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.53	−0.031%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	797.64	−0.017%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.64	−0.018%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	797.98	+0.026%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	+0.003%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.23	−0.069%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0158%	8h	798.80	+0.128%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0196%	8h	798.72	+0.118%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	797.74	−0.005%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	798.41	+0.079%	$1.6M	$161K	25x	as long as short
dYdX BNB-USD	+0.0201%	1h	796.94	−0.105%	$161K	$63K	10x	as long as short
Hibachi BNB/USDT-P	+0.0272%	1h	798.92	+0.143%	$68K	$38K	12x	as long as short
Hyperliquid BNB	+0.0295%	1h	799.00	+0.153%	$53.1M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.06	−0.090%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0424%	1h	799.12	+0.168%	$2.7M	$5.7M	40x	as long as short