Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h −0.030%

Price spread now: GRVT against Polymarket Perps+0.026%63s7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.235% of the position

Long on Polymarket Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now +0.026%, 7d avg +0.087%

Together, before fees+0.066%+ Points / potential airdropGRVT: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.061% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.026% now, against its 7-day average of +0.087%). If the spread goes back, that is −$6 on $10k: about 4.5 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.002% in total) that is about 8 months. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BNB-USD	791.88	0.0100	pay 0.0013% / 1h	16m 27s	$134K	$949K	10x
Short	GRVT BNB_USDT_Perp	792.09	0.0145	get 0.0145% / 8h	5h 16m	$2.9M	$28.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Polymarket Perps. 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 Polymarket PerpsbpFee GRVTbpOrdersPrice spread, now +0.026%Rate

Funding earned: $9.45
Price spread: +0.026% → +0.087%: −$6.11
Slippage, 4 orders: −$6.54
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$20.21
Costs to cover: 0.235%
Break-even: 22.0 days

Slippage from Polymarket Perps: live order book, 47 min ago; GRVT: live order book, 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 Polymarket Perps live order book, 47 min ago	2.03 bp	8.3 bp −$8	8.9 bp −$89	14.5 bp −$1,451	doesn't fit
Sell GRVT live order book, 3 min ago	0.06 bp	4.6 bp −$5	6.5 bp −$65	doesn't fit	doesn't fit

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 −0.0167% / S +0.0335%	1h	792.11	+0.029%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	792.20	+0.040%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.60	+0.091%	$857K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	792.10	+0.028%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.668%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.019%	$615K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0052%	8h	792.45	+0.072%	$6.2M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0052%	8h	792.37	+0.062%	$69.4M	$50.6M	50x	as long as short
BingX BNB-USDC	+0.0061%	8h	792.10	+0.028%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0075%	8h	793.00	+0.141%	$80.5M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0075%	8h	792.71	+0.105%	$495.2M	$792.8M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.63	−0.031%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	792.06	+0.023%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	792.23	+0.044%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.70	−0.023%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	792.60	+0.091%	$52.0M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	792.11	+0.029%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	792.01	+0.016%	$139.4M	$77.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.00	+0.015%	$53.8M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.00	+0.015%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	792.15	+0.034%	$35.5M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.74	−0.018%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.64	−0.030%	$77.0M	$29.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	792.17	+0.037%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.30	−0.073%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.82	−0.008%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	792.28	+0.051%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USDlong	+0.0100%	1h	791.88	long leg	$134K	$949K	10x
Derive BNB-PERP	+0.0100%	1h	792.07	+0.025%	$32K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.34	+0.058%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	792.00	+0.015%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.71	−0.022%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.50	+0.078%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.49	−0.049%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	792.15	+0.034%	$381K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	792.03	+0.019%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perpshort	+0.0145%	8h	792.09	+0.026%	$2.9M	$28.0M	10x
Kalshi KXBNBPERP	+0.0187%	8h	792.30	+0.053%	$83K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0196%	8h	792.46	+0.073%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0212%	1h	791.84	−0.005%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	792.42	+0.068%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	792.30	+0.053%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.69	−0.023%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	792.13	+0.032%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0403%	1h	790.49	−0.175%	$640K	$6K	10x	as long as short
Hibachi BNB/USDT-P	+0.0592%	1h	792.19	+0.039%	$68K	$38K	12x	as long as short