Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%

Price spread now: Derive against GRVT+0.127%73s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Derive

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Derive is 0.127% dearer against GRVT than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 73 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	GRVT BNB_USDT_Perp	806.21	0	get 0.0000% / 8h	1h 40m	$3.0M	$29.2M	10x
Short	Derive BNB-PERP	807.23	0.0100	get 0.0013% / 1h	40m 06s	$32K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.127%Rate

Funding earned: $21
Price spread: +0.127% → 0.000%: $12.69
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: $18.69
Costs to cover: 0.150%
Break-even: 0.8 days

Slippage unknown: GRVT: live order book, 4 min ago; Derive: 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 GRVT live order book, 4 min ago	0.06 bp	4.9 bp −$5	6.8 bp −$68	22.5 bp −$2,246	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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]	L −0.0201% / S +0.0372%	1h	806.94	+0.091%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	807.39	+0.147%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perplong	0.0000%	8h	806.21	long leg	$3.0M	$29.2M	10x
Kalshi KXBNBPERP	0.0000%	8h	807.40	+0.148%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.73	+0.065%	$872K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.95	+0.093%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0044%	8h	806.56	+0.043%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0059%	8h	807.08	+0.108%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	806.60	+0.049%	$139.7M	$81.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0088%	1h	806.88	+0.084%	$72K	$48K	12x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	807.27	+0.131%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	−0.083%	$608K	$881K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.60	+0.049%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	807.15	+0.116%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	806.90	+0.086%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	807.30	+0.136%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	806.75	+0.067%	$36.1M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	806.72	+0.064%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	806.56	+0.044%	$78.8M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.39	+0.023%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.49	+0.035%	$162K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.85	+0.080%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.94	+0.091%	$390K	$592K	50x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	807.23	+0.127%	$32K	$5K	10x
SunX BNB-USDT	+0.0100%	8h	807.57	+0.169%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.92	+0.088%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.51	+0.162%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	806.54	+0.042%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	807.04	+0.103%	$388K	$40K	10x	as long as short
Aster BNBUSDT	+0.0107%	8h	807.73	+0.188%	$6.4M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0121%	8h	808.00	+0.222%	$84.8M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0122%	8h	807.66	+0.180%	$521.4M	$803.4M	75x	as long as short
Phemex BNBUSDT	+0.0132%	8h	807.53	+0.164%	$70.5M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	807.20	+0.123%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0188%	1h	807.00	+0.098%	$397K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0203%	1h	806.57	+0.045%	$163K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	806.94	+0.091%	$2.5M	$929K	50x	as long as short
Hyperliquid BNB	+0.0213%	1h	807.80	+0.198%	$52.0M	$22.1M	10x	as long as short
BloFin BNB-USDT	+0.0241%	8h	807.24	+0.128%	$18.8M	$2.6M	75x	as long as short
Bulk BNB-USD	+0.0295%	1h	807.66	+0.180%	$652K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	807.45	+0.154%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.139%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	807.14	+0.116%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	806.47	+0.032%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0360%	1h	807.79	+0.196%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0704%	1h	807.97	+0.219%	$3.0M	$5.5M	40x	as long as short