Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0058%/8h= +6.3% APRpaid last 24h +0.074%

Price spread now: Bulk against GRVT+0.070%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$160.163% of the position

Long on GRVT Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.256%+$26 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.070%, 7d avg 0.000%

Together, before fees+0.096%+ Points / potential airdropGRVT: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bulk is 0.069% dearer against GRVT than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BNB_USDT_Perp	787.62	0.0202	pay 0.0202% / 8h	2h 42m	$2.9M	$29.3M	10x
Short	Bulk BNB-USD	788.17	0.0260	get 0.0032% / 1h	42m 57s	$639K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.070%Rate

Funding earned: $12.12
Price spread: +0.070% → 0.000%: $6.95
Slippage, 4 orders: −$0.26
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $2.81
Costs to cover: 0.163%
Break-even: 5.4 days

Slippage from GRVT: live order book, 6 min ago; Bulk: live order book, 6 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, 6 min ago	0.06 bp	4.6 bp −$5	5.8 bp −$58	19.9 bp −$1,991	doesn't fit
Sell Bulk live order book, 6 min ago	0.06 bp	3.6 bp −$4	3.7 bp −$37	9.2 bp −$916	21.9 bp −$11.0K

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 −0.0192% / S +0.0356%	1h	785.49	−0.271%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.09	−0.068%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.38	−0.031%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.61	−0.256%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	786.11	−0.192%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.218%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0039%	8h	785.72	−0.242%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	786.50	−0.143%	$79.7M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	786.40	−0.156%	$489.8M	$805.0M	75x	as long as short
dYdX BNB-USD	+0.0054%	1h	786.33	−0.164%	$159K	$61K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0054%	8h	786.12	−0.191%	$68.8M	$50.6M	50x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	785.57	−0.260%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	−0.021%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.74	−0.240%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.66	−0.249%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.85	−0.225%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.04	−0.201%	$51.5M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.37	−0.159%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.81	−0.230%	$138.1M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.60	−0.257%	$53.3M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.40	−0.155%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.80	−0.232%	$36.2M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.37	−0.286%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.31	−0.294%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.16	−0.186%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.41	−0.154%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	−0.022%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.06	−0.072%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.75	−0.238%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.75	−0.238%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.42	−0.153%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	−0.244%	$386K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.72	−0.242%	$8.0M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.50	−0.142%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.36	−0.288%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.62	−0.255%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.15	−0.060%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	786.50	−0.143%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	786.34	−0.163%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.01	−0.205%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perplong	+0.0202%	8h	787.62	long leg	$2.9M	$29.3M	10x
Bulk BNB-USDshort	+0.0260%	1h	788.17	+0.070%	$639K	$10K	10x
01 Exchange BNBUSD	+0.0304%	1h	786.70	−0.117%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.61	−0.255%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.46	−0.148%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.90	−0.092%	$67K	$39K	12x	as long as short