Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0259%/8h= +28.4% APRpaid last 24h +0.070%

Price spread now: Orderly against GMX+0.017%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 Orderly

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: +$8 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]	799.02	L −0.0159% / S +0.0335%	get 0.0020% / 1h	12m 54s	$47K	—	200x
Short	Orderly PERP_BNB_USDC	799.16	0.0100	get 0.0100% / 8h	7h 12m	$386K	$459K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.017%Rate

Funding earned: $54.4
Price spread: +0.017% → 0.000%: $1.73
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $38.12
Costs to cover: 0.180%
Break-even: 2.1 days

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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 −0.0159% / S +0.0335%	1h	799.02	long leg	$47K	—	200x
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.95	−0.009%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.50	+0.060%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.73	+0.089%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.28	+0.157%	$865K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0005%	8h	798.43	−0.075%	$4.1M	$5.0M	—	as long as short
Gate BNB_USDT	+0.0007%	8h	798.60	−0.053%	$35.9M	$56.9M	75x	as long as short
BingX BNB-USDT	+0.0007%	8h	798.79	−0.029%	—	$35.0M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.11	+0.011%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.759%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0040%	8h	799.58	+0.070%	$69.8M	$50.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.006%	$615K	$1.1M	50x	as long as short
Bybit BNBUSDT	+0.0052%	8h	798.44	−0.073%	$138.6M	$76.1M	75x	as long as short
Aster BNBUSDT	+0.0053%	8h	799.31	+0.036%	$6.1M	$19.4M	200x	as long as short
MEXC BNB_USDT	+0.0074%	8h	799.70	+0.085%	$83.2M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0074%	8h	799.15	+0.016%	$496.4M	$810.9M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.04	+0.003%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.04	+0.127%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.15	+0.016%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.58	+0.070%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.50	−0.065%	$54.2M	$110.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.50	+0.060%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.51	−0.064%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.71	−0.039%	$78.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.52	+0.063%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.37	+0.044%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.92	−0.013%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	799.16	+0.017%	$386K	$459K	50x
Derive BNB-PERP	+0.0100%	1h	799.21	+0.024%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.67	+0.081%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.10	+0.010%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.64	−0.048%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.93	+0.113%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.32	−0.088%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.12	+0.013%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.153%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.20	+0.022%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	799.60	+0.072%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0194%	8h	799.67	+0.081%	$18.1M	$2.5M	75x	as long as short
dYdX BNB-USD	+0.0195%	1h	799.16	+0.018%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.42	+0.050%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0291%	1h	799.33	+0.039%	$53.1M	$20.3M	10x	as long as short
Hibachi BNB/USDT-P	+0.0296%	1h	799.40	+0.048%	$68K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.53	+0.063%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.71	−0.039%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0429%	1h	799.68	+0.082%	$2.7M	$5.7M	40x	as long as short