Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against GMX−0.001%52s7-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 OKX

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. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	799.01	L −0.0201% / S +0.0372%	get 0.0025% / 1h	1m 31s	$47K	—	200x
Short	OKX BNB-USDT-SWAP	799.00	0.0100	get 0.0100% / 8h	1m 31s	$54.4M	$112.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $63.28
Price spread: −0.001% → 0.000%: −$0.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $41.17
Costs to cover: 0.220%
Break-even: 2.4 days

Slippage unknown: GMX: no order-book sample; OKX: 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 OKX live order book, 2 min ago	0.63 bp	6.0 bp −$6	7.5 bp −$75	17.3 bp −$1,732	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	799.01	long leg	$47K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	799.62	+0.076%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.00	−0.002%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.036%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.71	+0.088%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0007%	8h	797.54	−0.184%	$4.1M	$5.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.00	−0.002%	$9.7M	—	150x	as long as short
BingX BNB-USDC	+0.0030%	8h	799.38	+0.046%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0040%	8h	799.00	−0.001%	$138.7M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.041%	$602K	$986K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0077%	8h	799.90	+0.112%	$6.2M	$19.2M	200x	as long as short
Phemex BNBUSDT	+0.0093%	8h	799.47	+0.058%	$69.9M	$50.7M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.56	+0.069%	$2.8M	$4.1M	20x	as long as short
Binance BNBUSDT	+0.0097%	8h	799.69	+0.085%	$497.8M	$818.5M	75x	as long as short
MEXC BNB_USDT	+0.0098%	8h	800.10	+0.137%	$83.2M	$13.6M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.95	−0.007%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.51	+0.063%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	799.00	−0.001%	$54.4M	$112.8M	50x
Arcus BNB-USD	+0.0100%	1h	799.40	+0.049%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.00	−0.001%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.28	+0.034%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.02	+0.001%	$78.9M	$27.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.62	+0.077%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.34	+0.041%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.20	+0.024%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.90	−0.014%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.06	+0.006%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.51	+0.063%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.20	+0.024%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.37	+0.045%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.24	+0.028%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.92	+0.115%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.99	−0.002%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.05	+0.005%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.080%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.11	+0.013%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERP	+0.0153%	8h	799.50	+0.061%	$90K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	−0.023%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0219%	8h	799.70	+0.086%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0249%	1h	800.13	+0.140%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.34	+0.041%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.73	+0.090%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.761%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0321%	1h	799.74	+0.091%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0329%	1h	798.88	−0.016%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.91	−0.012%	$6K	$3K	40x	as long as short