Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0472%/8h= −51.6% APRpaid last 24h −0.124%

Price spread now: GMX against HTX−0.033%7-day average — · you buy dearer than you sell

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

Long on HTX Short on GMX

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—needs both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GMX is 0.033% cheaper against HTX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	799.39	0.0100	pay 0.0100% / 8h	28m 01s	$8.2M	$8.0M	75x
Short	GMX BNB/USD [WBTC.b-USDC]	799.13	L −0.0201% / S +0.0372%	pay 0.0046% / 1h	28m 01s	$47K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$99.02
Price spread: −0.033% → 0.000%: −$3.26
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$126.28
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 1 min ago; GMX: 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 HTX live order book, 1 min ago	1.27 bp	10.1 bp −$10	11.2 bp −$112	38.8 bp −$3,884	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.0201% / S +0.0372%	1h	799.13	−0.033%	$47K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	799.68	+0.036%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.97	−0.053%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.28	+0.111%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.20	+0.101%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.16	−0.029%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0017%	8h	799.36	−0.004%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0039%	8h	799.18	−0.026%	—	$34.7M	—	as long as short
Bybit BNBUSDT	+0.0046%	8h	798.70	−0.086%	$138.6M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	+0.062%	$606K	$992K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0092%	8h	799.69	+0.037%	$6.3M	$18.9M	200x	as long as short
Lighter BNB	+0.0096%	1h	799.41	+0.002%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.78	−0.077%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.33	−0.008%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.80	−0.074%	$54.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.50	+0.014%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.90	−0.061%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.08	−0.039%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.74	−0.081%	$79.2M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.41	+0.128%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.53	+0.142%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.95	−0.055%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.07	−0.040%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.33	−0.008%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.69	+0.037%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	−0.011%	$393K	$1.0M	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	799.39	long leg	$8.2M	$8.0M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	799.67	+0.035%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.65	−0.092%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.34	−0.006%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0111%	8h	799.69	+0.037%	$69.9M	$50.6M	50x	as long as short
Binance BNBUSDT	+0.0113%	8h	799.68	+0.036%	$499.3M	$815.7M	75x	as long as short
MEXC BNB_USDT	+0.0114%	8h	800.10	+0.089%	$83.0M	$13.5M	200x	as long as short
Kalshi KXBNBPERP	+0.0121%	8h	799.80	+0.051%	$110K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	800.12	+0.091%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	799.53	+0.018%	$70K	$43K	12x	as long as short
Hyperliquid BNB	+0.0180%	1h	799.81	+0.052%	$51.8M	$21.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.53	+0.018%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0234%	8h	799.80	+0.051%	$18.2M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0239%	1h	800.03	+0.080%	$650K	$19K	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.40	+0.002%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	799.74	+0.044%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.713%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.49	−0.113%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0387%	1h	799.32	−0.009%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0405%	1h	799.95	+0.070%	$2.7M	$5.7M	40x	as long as short