Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0268%/8h= +29.3% APRpaid last 24h +0.069%

Price spread now: HTX against GMX+0.032%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 HTX

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and HTX is 0.032% dearer against GMX than usual: you sell high and buy low: +$3 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]	787.27	L −0.0168% / S +0.0337%	get 0.0021% / 1h	48m 13s	$43K	—	200x
Short	HTX BNB-USDT	787.52	0.0100	get 0.0100% / 8h	7h 48m	$8.0M	$10.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $56.21
Price spread: +0.032% → 0.000%: $3.15
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $35.36
Costs to cover: 0.240%
Break-even: 2.6 days

Slippage unknown: GMX: no order-book sample; HTX: 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 HTX live order book, 1 min ago	3.21 bp	9.3 bp −$9	10.8 bp −$108	46.5 bp −$4,649	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 −0.0168% / S +0.0337%	1h	787.27	long leg	$43K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	787.34	+0.008%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	787.15	−0.016%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.65	−0.080%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	787.82	+0.069%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.29	+0.002%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	787.78	+0.064%	$6.0M	$18.5M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.263%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0036%	8h	787.36	+0.011%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0044%	8h	788.60	+0.168%	$82.0M	$12.1M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0044%	8h	787.64	+0.047%	$490.0M	$812.3M	75x	as long as short
dYdX BNB-USD	+0.0073%	1h	787.07	−0.026%	$158K	$63K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.35	+0.009%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.95	−0.041%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.58	+0.039%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.39	+0.014%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.10	−0.022%	$138.6M	$73.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.00	−0.035%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.30	+0.003%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.20	−0.009%	$39.2M	$55.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.98	−0.037%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.77	−0.064%	$75.5M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.32	+0.006%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.62	−0.083%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.52	−0.096%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.37	−0.115%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.40	+0.016%	$132K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.36	+0.011%	$265K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.23	−0.006%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.62	+0.044%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	+0.016%	$387K	$950K	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	787.52	+0.032%	$8.0M	$10.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	787.66	+0.049%	$78K	$17K	50x	as long as short
Phemex BNBUSDT	+0.0101%	8h	787.93	+0.083%	$68.7M	$51.1M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.95	−0.041%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.23	−0.006%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	787.70	+0.054%	$171K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	−0.087%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.53	−0.094%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0165%	8h	787.72	+0.057%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.71	+0.056%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0215%	1h	787.68	+0.052%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.88	+0.077%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	787.06	−0.027%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.42	+0.018%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	787.16	−0.014%	$67K	$39K	12x	as long as short