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 OKX+0.024%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−$279as in the Price arb table

costs, in and out, $10k−$2812.814% of the position

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.088%−$9 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.024%, 7d avg +0.003%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.022% dearer against OKX than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of +0.003%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	786.30	0.0100	pay 0.0100% / 8h	2h 16m	$53.5M	$112.7M	50x
Short	gTrade (Gains Network) BNB/USD	786.49	L +0.0007% / S −0.0007%	get 0.0001% / 1h	16m 00s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.024%Rate

Funding earned: −$19.49
Price spread: +0.024% → +0.003%: $2.18
Slippage, 4 orders: −$261.35
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$298.67
Costs to cover: 2.814%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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 OKX live order book, 3 min ago	0.64 bp	5.6 bp −$6	7.1 bp −$71	19.8 bp −$1,977	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 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	786.29	−0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.83	+0.067%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.28	+0.125%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	786.49	+0.024%	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.390%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	787.10	+0.102%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0045%	8h	786.74	+0.056%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0058%	8h	787.09	+0.100%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	787.40	+0.140%	$80.5M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	787.13	+0.105%	$490.3M	$812.5M	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	786.40	+0.012%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.057%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.65	+0.045%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.52	+0.028%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.30	0.000%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.13	+0.106%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.72	+0.053%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.46	+0.020%	$138.1M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	786.30	long leg	$53.5M	$112.7M	50x
Arcus BNB-USD	+0.0100%	1h	786.80	+0.064%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.50	+0.025%	$36.7M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.13	−0.022%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.21	−0.011%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.89	+0.075%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.062%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.59	+0.036%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.98	+0.086%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.48	+0.023%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.65	+0.044%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.14	+0.107%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.66	+0.046%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.96	+0.084%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−0.007%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.55	+0.032%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	+0.004%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0130%	1h	786.60	+0.038%	$387K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	787.10	+0.102%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0160%	1h	786.37	+0.008%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0181%	8h	787.12	+0.104%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	787.48	+0.150%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.92	+0.079%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.33	+0.131%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.36	+0.007%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.115%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.89	+0.075%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.85	+0.071%	$67K	$39K	12x	as long as short