Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against KuCoin+0.030%7-day average −0.003% · 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−$286as in the Price arb table

costs, in and out, $10k−$2902.898% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.085%−$9 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.030%, 7d avg −0.003%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.033% dearer against KuCoin than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.003%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	784.57	0.0100	pay 0.0100% / 8h	2h 33m	$27.5M	$10.2M	75x
Short	gTrade (Gains Network) BNB/USD	784.80	L +0.0007% / S −0.0007%	get 0.0001% / 1h	33m 12s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. 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 KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.030%Rate

Funding earned: −$19.49
Price spread: +0.030% → −0.003%: $3.32
Slippage, 4 orders: −$267.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$305.95
Costs to cover: 2.898%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 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 KuCoin live order book, 11 min ago	0.44 bp	10.4 bp −$10	20.6 bp −$206	doesn't fit	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 −0.0192% / S +0.0356%	1h	784.71	+0.018%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.37	+0.102%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.27	+0.217%	$848K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	784.80	+0.030%	$9.5M	—	150x
Aster BNBUSDT	+0.0029%	8h	785.43	+0.110%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.615%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	784.96	+0.050%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0051%	8h	785.40	+0.106%	$68.7M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	785.70	+0.144%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	785.66	+0.139%	$489.0M	$808.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.73	+0.021%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.23	+0.212%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.98	+0.052%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.85	+0.036%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.65	+0.010%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.35	+0.099%	$51.5M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.06	+0.063%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.71	+0.018%	$137.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.70	+0.017%	$53.3M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.30	+0.093%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.80	+0.029%	$36.3M	$58.5M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	784.57	long leg	$27.5M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	784.43	−0.018%	$75.9M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.75	+0.150%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	+0.186%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.21	+0.336%	$4.1M	$75.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.79	+0.283%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.64	+0.009%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.94	+0.047%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.32	+0.096%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.90	+0.042%	$386K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.97	+0.051%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.06	+0.063%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.44	−0.017%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.91	+0.043%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.73	+0.148%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0111%	1h	784.98	+0.053%	$159K	$61K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	785.10	+0.068%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	785.44	+0.111%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	786.66	+0.266%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.212%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.66	+0.139%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	785.26	+0.088%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.51	−0.007%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.30	+0.093%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	785.56	+0.126%	$67K	$39K	12x	as long as short