Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0299%/8h= +32.7% APRpaid last 24h +0.038%

Price spread now: GRVT against GMX+0.225%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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and GRVT is 0.225% dearer against GMX than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	787.73	L −0.0167% / S +0.0335%	get 0.0021% / 1h	41m 14s	$46K	—	200x
Short	GRVT BNB_USDT_Perp	789.50	0.0132	get 0.0132% / 8h	5h 41m	$2.9M	$28.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.225%Rate

Funding earned: $62.69
Price spread: +0.225% → 0.000%: $22.53
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $64.23
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; GRVT: live order book, 3 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 GRVT live order book, 3 min ago	0.06 bp	4.7 bp −$5	5.8 bp −$58	doesn't fit	doesn't fit

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 −0.0167% / S +0.0335%	1h	787.73	long leg	$46K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	788.48	+0.095%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.22	+0.316%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	787.79	+0.008%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.204%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	788.61	+0.112%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.09	+0.173%	$618K	$1.8M	50x	as long as short
BingX BNB-USDC	+0.0055%	8h	788.09	+0.046%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0074%	8h	788.70	+0.123%	$80.2M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	788.29	+0.072%	$492.9M	$806.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BNB	+0.0078%	8h	787.81	+0.011%	$4.1M	$4.7M	—	as long as short
Phemex BNBUSDT	+0.0084%	8h	788.24	+0.065%	$69.0M	$51.0M	50x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	787.62	−0.014%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.85	+0.015%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.73	0.000%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	+0.034%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.45	+0.092%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.18	+0.057%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.64	−0.011%	$138.5M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.70	−0.004%	$53.4M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	+0.073%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.80	+0.009%	$35.2M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.57	−0.020%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.87	+0.018%	$76.8M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.06	+0.169%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.32	+0.202%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.87	+0.145%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.91	+0.023%	$137K	$946K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.96	+0.029%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.57	+0.106%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.36	+0.081%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	788.64	+0.115%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.34	−0.049%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.72	−0.001%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	789.13	+0.178%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perpshort	+0.0132%	8h	789.50	+0.225%	$2.9M	$28.2M	10x
SoDEX BNB-USD	+0.0149%	1h	787.80	+0.009%	$387K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0186%	8h	788.50	+0.098%	$95K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	788.40	+0.085%	$18.2M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0241%	1h	788.16	+0.055%	$159K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.11	+0.049%	$1.5M	$152K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.47	+0.094%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.69	−0.004%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.37	+0.081%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	+0.041%	$638K	$13K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	789.66	+0.245%	$67K	$38K	12x	as long as short