Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h −0.004%

Price spread now: gTrade (Gains Network) against GRVT+0.025%7-day average −0.090% · 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−$268as in the Price arb table

costs, in and out, $10k−$2792.791% of the position

Long on GRVT Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$5 on $10k

Price spread, last 3 days (all we have)−0.137%−$14 · spread now +0.025%, 7d avg −0.090%

Together, before fees−0.192%+ Points / potential airdropGRVT: Active · farm board−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.115% dearer against GRVT than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BNB_USDT_Perp	803.90	0	get 0.0000% / 8h	2h 31m	$3.0M	$29.3M	10x
Short	gTrade (Gains Network) BNB/USD	804.10	L +0.0008% / S −0.0007%	get 0.0001% / 1h	31m 15s	$9.8M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.025%Rate

Funding earned: $1.57
Price spread: +0.025% → −0.090%: $11.55
Slippage, 4 orders: −$260.13
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$266.01
Costs to cover: 2.791%
Break-even: 1196.3 days

Slippage from GRVT: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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, 3 min ago	0.06 bp	4.6 bp −$5	6.6 bp −$66	22.2 bp −$2,217	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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 −0.0195% / S +0.0371%	1h	804.07	+0.021%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.19	+0.037%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perplong	0.0000%	8h	803.90	long leg	$3.0M	$29.3M	10x
Kalshi KXBNBPERP	0.0000%	8h	804.50	+0.075%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.003%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0008% / S −0.0007%	1h	804.10	+0.025%	$9.8M	—	150x
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.33	+0.054%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0051%	8h	802.62	−0.159%	$4.0M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0055%	8h	804.10	+0.025%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0075%	8h	803.80	−0.012%	$139.4M	$82.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	804.19	+0.037%	$609K	$878K	50x	as long as short
Aster BNBUSDT	+0.0089%	8h	804.45	+0.069%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	804.36	+0.058%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.49	−0.050%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.04	+0.018%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.00	+0.013%	$55.1M	$115.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.10	+0.025%	$53K	$165K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.05	+0.019%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.97	+0.009%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.82	−0.009%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.49	+0.074%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.32	+0.053%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.09	+0.024%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.15	+0.032%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.28	+0.047%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.48	+0.073%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.84	−0.007%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.48	+0.073%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.76	−0.017%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.35	+0.056%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0105%	8h	805.20	+0.162%	$84.4M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0106%	8h	804.83	+0.116%	$519.3M	$803.0M	75x	as long as short
Phemex BNBUSDT	+0.0124%	8h	804.77	+0.109%	$70.2M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.93	+0.004%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0156%	1h	804.77	+0.109%	$51.7M	$21.3M	10x	as long as short
SoDEX BNB-USD	+0.0169%	1h	804.20	+0.038%	$396K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0197%	1h	804.34	+0.055%	$650K	$11K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	804.67	+0.097%	$1.6M	$165K	25x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.10	+0.026%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0226%	8h	804.88	+0.122%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	804.02	+0.016%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0276%	1h	804.28	+0.048%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	804.69	+0.099%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.83	−0.008%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.127%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0660%	1h	805.11	+0.151%	$3.0M	$5.4M	40x	as long as short