Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0435%/8h= −47.6% APRpaid last 24h −0.123%

Price spread now: GMX against Orderly−0.003%7-day average — · you buy dearer than you sell

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

Long on Orderly 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	799.65	0.0100	pay 0.0100% / 8h	7h 14m	$386K	$459K	50x
Short	GMX BNB/USD [WBTC.b-USDC]	799.62	L −0.0159% / S +0.0335%	pay 0.0042% / 1h	14m 06s	$47K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$91.25
Price spread: −0.003% → 0.000%: −$0.34
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$109.59
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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 −0.0159% / S +0.0335%	1h	799.62	−0.003%	$47K	—	200x
Kraken Futures PF_BNBUSD	−0.0120%	1h	799.65	0.000%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.75	+0.013%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.67	−0.123%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.64	−0.001%	$864K	$2.9M	30x	as long as short
Gate BNB_USDT	+0.0004%	8h	799.45	−0.025%	$35.9M	$56.9M	75x	as long as short
Variational Omni BNB	+0.0005%	8h	798.43	−0.153%	$4.1M	$5.0M	—	as long as short
BingX BNB-USDT	+0.0007%	8h	799.70	+0.006%	—	$35.0M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.66	+0.002%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0019%	8h	800.32	+0.084%	$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	+0.680%	$19K	$789K	30x	as long as short
Bybit BNBUSDT	+0.0044%	8h	799.20	−0.056%	$138.8M	$76.2M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.073%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0053%	8h	800.20	+0.069%	$6.2M	$19.4M	200x	as long as short
MEXC BNB_USDT	+0.0074%	8h	800.70	+0.131%	$83.3M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0074%	8h	800.36	+0.089%	$496.9M	$810.9M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.92	+0.034%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	798.98	−0.084%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.20	−0.056%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.58	−0.009%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.10	−0.069%	$54.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.60	−0.006%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.59	−0.008%	$28.0M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.40	−0.031%	$78.3M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.56	−0.136%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.57	−0.135%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.33	−0.040%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	799.65	long leg	$386K	$459K	50x
Derive BNB-PERP	+0.0100%	1h	799.79	+0.018%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.98	+0.041%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.80	+0.019%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.79	−0.108%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.99	+0.042%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.32	−0.041%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.68	+0.004%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.231%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.56	−0.011%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	800.00	+0.044%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	799.65	0.000%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0195%	1h	799.16	−0.061%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	800.08	+0.054%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0293%	1h	800.52	+0.109%	$53.2M	$20.3M	10x	as long as short
Hibachi BNB/USDT-P	+0.0296%	1h	799.40	−0.031%	$68K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	800.15	+0.063%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	799.21	−0.055%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0429%	1h	800.55	+0.113%	$2.7M	$5.7M	40x	as long as short