Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against GRVT−0.076%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on GRVT Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.094%+$9 · spread now −0.076%, 7d avg −0.021%

Together, before fees+0.116%+ Points / potential airdropGRVT: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.055% cheaper against GRVT than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.021%). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.022% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BNB_USDT_Perp	799.99	0	get 0.0000% / 8h	7h 39m	$3.0M	$27.6M	10x
Short	ApeX Omni BNBUSDT	799.38	0.0100	get 0.0013% / 1h	39m 26s	$161K	$436K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now −0.076%Rate

Funding earned: $21
Price spread: −0.076% → −0.021%: −$5.49
Slippage, 4 orders: −$16.89
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$20.38
Costs to cover: 0.359%
Break-even: 13.8 days

Slippage from GRVT: live order book, 5 min ago; ApeX Omni: live order book, 33 min ago.

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 GRVT live order book, 5 min ago	0.06 bp	5.4 bp −$5	7.2 bp −$72	20.5 bp −$2,053	doesn't fit
Sell ApeX Omni live order book, 33 min ago	2.06 bp	18.0 bp −$18	39.1 bp −$391	doesn't fit	doesn't fit

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]	L −0.0201% / S +0.0372%	1h	799.04	−0.119%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0120%	1h	799.51	−0.059%	$2.5M	$976K	50x	as long as short
BingX BNB-USDT	−0.0094%	8h	799.35	−0.080%	—	$35.2M	—	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.06	+0.009%	$4K	$239	25x	as long as short
Bybit BNBUSDT	−0.0057%	8h	798.90	−0.136%	$138.7M	$76.3M	75x	as long as short
GRVT BNB_USDT_Perplong	0.0000%	8h	799.99	long leg	$3.0M	$27.6M	10x
StandX BNB-USD	0.0000%	1h	799.91	−0.010%	$864K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	800.23	+0.030%	$69.9M	$50.5M	50x	as long as short
Variational Omni BNB	+0.0005%	8h	798.83	−0.145%	$4.1M	$5.3M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.05	−0.117%	$9.7M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.638%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.00	−0.248%	$601K	$970K	50x	as long as short
Aster BNBUSDT	+0.0067%	8h	799.89	−0.012%	$6.2M	$19.1M	200x	as long as short
Gate BNB_USDT	+0.0080%	8h	799.40	−0.073%	$35.7M	$56.1M	75x	as long as short
MEXC BNB_USDT	+0.0088%	8h	800.00	+0.002%	$83.2M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0088%	8h	799.72	−0.033%	$496.5M	$809.3M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.96	−0.003%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.66	−0.041%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.46	−0.066%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.84	−0.018%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.90	−0.136%	$54.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.70	−0.036%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.01	−0.122%	$28.0M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.88	−0.138%	$78.8M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.66	−0.041%	$4.2M	$76.3M	30x	as long as short
ApeX Omni BNBUSDTshort	+0.0100%	1h	799.38	−0.076%	$161K	$436K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	799.07	−0.115%	$118K	$871K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.69	−0.037%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.83	−0.020%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.16	+0.022%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.80	−0.023%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.87	−0.015%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.36	+0.046%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.84	−0.144%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.64	−0.044%	$384K	$108K	10x	as long as short
Bulk BNB-USD	+0.0118%	1h	798.39	−0.199%	$648K	$11K	10x	as long as short
Hibachi BNB/USDT-P	+0.0144%	1h	799.86	−0.016%	$69K	$36K	12x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.39	−0.075%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0157%	8h	799.70	−0.036%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0209%	8h	799.68	−0.038%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	799.60	−0.048%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0275%	1h	799.47	−0.064%	$161K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	800.16	+0.022%	$1.6M	$160K	25x	as long as short
Hyperliquid BNB	+0.0314%	1h	799.95	−0.005%	$53.1M	$20.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.71	−0.160%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0401%	1h	800.52	+0.067%	$2.7M	$5.6M	40x	as long as short