Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0301%/8h= +33.0% APRpaid last 24h +0.071%

Price spread now: KuCoin against GMX−0.006%7-day average — · you buy dearer than you sell

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

Long on GMX Short on KuCoin

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: +$9 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]	800.99	L −0.0201% / S +0.0372%	get 0.0025% / 1h	27m 14s	$48K	—	200x
Short	KuCoin BNBUSDTM	800.95	0.0100	get 0.0100% / 8h	1h 27m	$28.0M	$10.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.006%Rate

Funding earned: $63.28
Price spread: −0.006% → 0.000%: −$0.55
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $38.73
Costs to cover: 0.240%
Break-even: 2.7 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	0.44 bp	7.8 bp −$8	16.6 bp −$166	50.7 bp −$5,073	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 −0.0201% / S +0.0372%	1h	800.99	long leg	$48K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	801.18	+0.023%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.71	+0.090%	$3.0M	$29.6M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.50	+0.063%	$158K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.32	+0.166%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.01	+0.002%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	−0.018%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0065%	8h	801.09	+0.012%	—	$35.0M	—	as long as short
Bybit BNBUSDT	+0.0079%	8h	800.70	−0.037%	$139.5M	$83.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.31	+0.039%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	+0.022%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	801.56	+0.070%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.58	−0.051%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.84	−0.020%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.70	−0.037%	$54.8M	$117.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.20	+0.026%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.90	−0.012%	$35.8M	$58.3M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	800.95	−0.006%	$28.0M	$10.6M	75x
Bitget BNBUSDT	+0.0100%	8h	800.70	−0.037%	$80.9M	$26.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.89	+0.111%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.93	+0.117%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.79	−0.026%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.05	+0.007%	$387K	$572K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.31	+0.040%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.52	+0.066%	$12K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.00	+0.001%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.43	+0.055%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.62	−0.047%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.21	+0.027%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	802.00	+0.126%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.63	+0.079%	$503.9M	$829.7M	75x	as long as short
SoDEX BNB-USD	+0.0120%	1h	801.20	+0.026%	$394K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0124%	8h	801.53	+0.067%	$70.0M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	801.68	+0.086%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	801.31	+0.039%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0197%	1h	800.59	−0.051%	$161K	$62K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.48	+0.060%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	800.99	−0.001%	$2.6M	$984K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.70	+0.088%	$18.4M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0286%	1h	801.95	+0.119%	$51.9M	$22.3M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.511%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.05	+0.007%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.48	−0.064%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	801.64	+0.081%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	+0.074%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0657%	1h	801.81	+0.102%	$2.7M	$5.7M	40x	as long as short