Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.026%

Price spread now: Injective against GRVT+0.781%7-day average −0.213% · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 3 days (all we have)−1.224%−$122 · spread now +0.781%, 7d avg −0.213%

Together, before fees−1.434%+ Points / potential airdropGRVT: Active · farm board−$143 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.993% dearer against GRVT than usual: you sell high and buy low: +$99 more if the spread goes back to its 7-day average of −0.213%. Mind the row above: over the last 7 days funding on this pair cost −0.210%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BNB_USDT_Perp	798.85	0	get 0.0000% / 8h	7h 17m	$3.0M	$27.9M	10x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	17m 40s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.781%Rate

Funding earned: $7
Price spread: +0.781% → −0.213%: $99.35
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $97.33
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 1 min ago; Injective: 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, 1 min ago	0.06 bp	4.6 bp −$5	5.5 bp −$55	3057.8 bp −$305.8K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0159% / S +0.0335%	1h	797.78	−0.134%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.96	−0.111%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.55	−0.038%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0007%	8h	797.47	−0.173%	—	$13.3M	—	as long as short
Gate BNB_USDT	−0.0003%	8h	797.95	−0.113%	$35.9M	$56.8M	75x	as long as short
GRVT BNB_USDT_Perplong	0.0000%	8h	798.85	long leg	$3.0M	$27.9M	10x
StandX BNB-USD	0.0000%	1h	799.12	+0.034%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0004%	8h	797.72	−0.142%	$4.1M	$5.0M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.76	−0.137%	$9.7M	—	150x	as long as short
Bybit BNBUSDT	+0.0022%	8h	797.88	−0.122%	$138.6M	$76.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0030%	8h	798.80	−0.007%	$69.8M	$50.2M	50x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+0.781%	$19K	$789K	30x
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.027%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0051%	8h	798.70	−0.019%	$6.1M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	798.72	−0.017%	$495.9M	$811.8M	75x	as long as short
MEXC BNB_USDT	+0.0075%	8h	799.20	+0.044%	$83.1M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.45	−0.051%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.13	+0.035%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	796.70	−0.269%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.44	−0.052%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.00	−0.107%	$54.2M	$110.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.50	−0.044%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.06	−0.099%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.74	−0.139%	$78.1M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.91	+0.007%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.95	+0.012%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	797.26	−0.199%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.96	−0.112%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.11	−0.093%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.58	−0.034%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.10	−0.094%	$392K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.53	−0.165%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.76	−0.011%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.73	−0.140%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	797.98	−0.109%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.132%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.29	−0.070%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0158%	8h	798.80	−0.007%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0196%	8h	798.72	−0.017%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0198%	1h	797.77	−0.135%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.58	−0.034%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	798.41	−0.056%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0272%	1h	798.92	+0.008%	$68K	$38K	12x	as long as short
Hyperliquid BNB	+0.0294%	1h	799.15	+0.037%	$53.1M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.06	−0.224%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0424%	1h	799.12	+0.034%	$2.7M	$5.7M	40x	as long as short