Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.066%

Price spread now: MEXC against GMX+0.263%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 MEXC

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 +$6 a day on $10k at the current rate, and MEXC is 0.263% dearer against GMX than usual: you sell high and buy low: +$26 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]	787.93	L −0.0166% / S +0.0336%	get 0.0021% / 1h	10m 11s	$43K	—	200x
Short	MEXC BNB_USDT	790.00	0.0032	get 0.0032% / 8h	7h 10m	$83.0M	$12.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.263%Rate

Funding earned: $41.68
Price spread: +0.263% → 0.000%: $26.28
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: $51.96
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.63 bp	3.4 bp −$3	5.4 bp −$54	27.6 bp −$2,755	45.3 bp −$22.7K

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 45 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 −0.0166% / S +0.0336%	1h	787.93	long leg	$43K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	789.16	+0.156%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	788.28	+0.044%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	788.94	+0.128%	$3.0M	$26.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	789.45	+0.193%	$851K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.53	+0.077%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0014%	8h	788.86	+0.118%	$6.0M	$17.9M	200x	as long as short
BingX BNB-USDT	+0.0026%	8h	788.49	+0.071%	—	$22.0M	—	as long as short
MEXC BNB_USDTshort	+0.0032%	8h	790.00	+0.263%	$83.0M	$12.4M	200x
Binance BNBUSDT	+0.0032%	8h	788.80	+0.111%	$485.7M	$799.3M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.178%	$19K	$789K	30x	as long as short
Lighter BNB	+0.0096%	1h	788.31	+0.048%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.35	+0.053%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.82	+0.113%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.51	+0.074%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	+0.022%	$138.9M	$71.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.20	+0.034%	$53.8M	$108.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	+0.060%	$52K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.20	+0.034%	$39.9M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.07	+0.018%	$27.9M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.89	−0.005%	$75.8M	$32.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.69	+0.096%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.32	+0.050%	$4.3M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.02	+0.139%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.10	+0.022%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.95	+0.003%	$130K	$917K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.00	+0.009%	$265K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.70	+0.098%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.40	+0.060%	$388K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.88	+0.121%	$8.1M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.64	+0.090%	$78K	$47K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.64	−0.037%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.10	+0.021%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0106%	8h	789.00	+0.136%	$160K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	788.70	+0.098%	$551K	$2.0M	50x	as long as short
Phoenix BNB	+0.0120%	1h	789.48	+0.197%	$159K	$38K	10x	as long as short
Phemex BNBUSDT	+0.0130%	8h	788.78	+0.108%	$68.6M	$51.4M	50x	as long as short
BloFin BNB-USDT	+0.0130%	8h	789.18	+0.159%	$17.7M	$2.3M	75x	as long as short
Bulk BNB-USD	+0.0154%	1h	788.26	+0.042%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.43	+0.064%	$1.5M	$138K	25x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.78	+0.108%	$28K	$3K	10x	as long as short
dYdX BNB-USD	+0.0241%	1h	788.81	+0.112%	$158K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	788.30	+0.047%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	788.50	+0.072%	$1.1M	$890K	20x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	788.36	+0.055%	$67K	$39K	12x	as long as short