Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against HTX+0.110%7-day average +0.009% · 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−$278as in the Price arb table

costs, in and out, $10k−$2882.880% of the position

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 3 days (all we have)−0.025%−$3 · spread now +0.110%, 7d avg +0.009%

Together, before fees−0.117%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.101% dearer against HTX than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.009%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	798.79	0.0100	pay 0.0100% / 8h	7h 13m	$8.2M	$8.3M	75x
Short	gTrade (Gains Network) BNB/USD	799.66	L +0.0008% / S −0.0007%	get 0.0001% / 1h	13m 32s	$9.7M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against HTX. 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 HTXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.110%Rate

Funding earned: −$19.49
Price spread: +0.110% → +0.009%: $10.09
Slippage, 4 orders: −$266.04
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$297.44
Costs to cover: 2.880%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; gTrade (Gains Network): virtual book (oracle venue), 1 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 HTX live order book, 1 min ago	1.87 bp	9.7 bp −$10	15.2 bp −$152	61.0 bp −$6,101	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 1 min ago	130.01 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 −0.0159% / S +0.0335%	1h	799.62	+0.105%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0120%	1h	799.65	+0.108%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.50	+0.089%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.73	+0.118%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.28	+0.187%	$865K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0005%	8h	798.43	−0.045%	$4.1M	$5.0M	—	as long as short
Gate BNB_USDT	+0.0007%	8h	799.00	+0.027%	$35.9M	$56.9M	75x	as long as short
BingX BNB-USDT	+0.0007%	8h	799.39	+0.075%	—	$35.0M	—	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0008% / S −0.0007%	1h	799.66	+0.110%	$9.7M	—	150x
Phemex BNBUSDT	+0.0019%	8h	800.32	+0.192%	$69.9M	$50.3M	50x	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	+0.789%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.035%	$615K	$1.1M	50x	as long as short
Bybit BNBUSDT	+0.0052%	8h	798.88	+0.012%	$138.7M	$76.2M	75x	as long as short
Aster BNBUSDT	+0.0053%	8h	799.77	+0.123%	$6.1M	$19.4M	200x	as long as short
MEXC BNB_USDT	+0.0074%	8h	800.30	+0.189%	$83.2M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0074%	8h	799.68	+0.112%	$496.5M	$810.8M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.56	+0.097%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.04	+0.157%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.15	+0.045%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.58	+0.099%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.90	+0.014%	$54.2M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.50	+0.089%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.14	+0.044%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.71	−0.010%	$78.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.52	+0.092%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.37	+0.073%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.92	+0.017%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.65	+0.108%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.79	+0.126%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.98	+0.149%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.80	+0.127%	$393K	$996K	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	798.79	long leg	$8.2M	$8.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	799.93	+0.142%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.98	+0.024%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.68	+0.112%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.124%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.20	+0.051%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	800.00	+0.152%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	799.65	+0.108%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0195%	1h	799.16	+0.047%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.42	+0.079%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0293%	1h	800.14	+0.169%	$53.2M	$20.3M	10x	as long as short
Hibachi BNB/USDT-P	+0.0296%	1h	799.40	+0.077%	$68K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	800.15	+0.171%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.71	−0.010%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0429%	1h	800.55	+0.221%	$2.7M	$5.7M	40x	as long as short