Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0497%/8h= −54.4% APRpaid last 24h −0.134%

Price spread now: GMX against MEXC−0.149%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 −$15 a day on $10k at the current rate, and GMX is 0.149% cheaper against MEXC than usual: you would sell low and buy high (−$15 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	MEXC BNB_USDT	803.70	0.0125	pay 0.0125% / 8h	50m 42s	$83.6M	$13.5M	200x
Short	GMX BNB/USD [WBTC.b-USDC]	802.50	L −0.0201% / S +0.0372%	pay 0.0046% / 1h	50m 42s	$48K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$104.27
Price spread: −0.149% → 0.000%: −$14.92
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$135.19
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.62 bp	2.6 bp −$3	4.6 bp −$46	24.6 bp −$2,457	43.2 bp −$21.6K
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	802.50	−0.149%	$48K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	803.16	−0.067%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.37	−0.165%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.91	−0.099%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.34	−0.045%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.54	−0.144%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.256%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	803.09	−0.076%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0064%	8h	802.50	−0.149%	$139.5M	$78.7M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.371%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	803.21	−0.061%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.20	−0.187%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.11	−0.074%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.60	−0.137%	$54.8M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.20	−0.062%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.65	−0.131%	$35.9M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.77	−0.116%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.49	−0.151%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.03	−0.083%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.26	−0.055%	$162K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.45	−0.156%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.58	−0.139%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.74	−0.119%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.14	−0.070%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.85	−0.106%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.55	−0.018%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	802.35	−0.168%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.75	−0.118%	$386K	$40K	10x	as long as short
Aster BNBUSDT	+0.0104%	8h	803.49	−0.026%	$6.3M	$19.0M	200x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	803.10	−0.075%	$109K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0116%	8h	803.15	−0.068%	$70.2M	$51.0M	50x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.58	−0.015%	$502.7M	$818.4M	75x	as long as short
MEXC BNB_USDTlong	+0.0125%	8h	803.70	long leg	$83.6M	$13.5M	200x
Phoenix BNB	+0.0127%	1h	803.21	−0.061%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0176%	1h	802.70	−0.124%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	803.00	−0.087%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.67	−0.128%	$71K	$49K	12x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.43	−0.034%	$18.2M	$2.6M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	803.04	−0.081%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0272%	1h	803.63	−0.009%	$52.0M	$21.4M	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.173%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0309%	1h	803.58	−0.015%	$653K	$20K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0316%	1h	803.30	−0.050%	$2.7M	$5.7M	40x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	802.08	−0.202%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0416%	1h	803.25	−0.056%	$28K	$2K	10x	as long as short
dYdX BNB-USD	+0.0482%	1h	802.89	−0.101%	$162K	$62K	10x	as long as short