Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0330%/8h= −36.1% APRpaid last 24h −0.096%

Price spread now: GRVT against Reya+0.191%64s7-day average — · you sell dearer than you buy

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

Long on Reya Short on GRVT

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—+ Points / potential airdropReya: Active · GRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.191% dearer against Reya than usual: you sell high and buy low (spread +0.191% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 46 hours. The two prices were read 64 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	Reya BNBRUSDPERP	798.21	0.0330	pay 0.0041% / 1h	11m 58s	$6K	$3K	40x
Short	GRVT BNB_USDT_Perp	799.73	0	get 0.0000% / 8h	7h 11m	$3.0M	$27.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Reya. 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 ReyabpFee GRVTbpOrdersPrice spread, now +0.191%Rate

Funding earned: −$69.24
Price spread: +0.191% → 0.000%: $19.06
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$65.18
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; GRVT: live order book, 2 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell GRVT live order book, 2 min ago	0.31 bp	4.8 bp −$5	5.9 bp −$59	22.1 bp −$2,212	doesn't fit

Reya: 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]	L −0.0159% / S +0.0335%	1h	798.61	+0.050%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.59	+0.048%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.06	+0.107%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perpshort	0.0000%	8h	799.73	+0.191%	$3.0M	$27.9M	10x
StandX BNB-USD	0.0000%	1h	799.92	+0.214%	$864K	$2.9M	30x	as long as short
Gate BNB_USDT	+0.0004%	8h	798.05	−0.020%	$35.9M	$57.0M	75x	as long as short
Variational Omni BNB	+0.0005%	8h	798.43	+0.027%	$4.1M	$5.0M	—	as long as short
BingX BNB-USDC	+0.0007%	8h	798.41	+0.025%	—	$13.3M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.62	+0.052%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0025%	8h	799.10	+0.112%	$69.8M	$50.1M	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	+0.862%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.108%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0052%	8h	799.01	+0.101%	$6.1M	$19.4M	200x	as long as short
Bybit BNBUSDT	+0.0061%	8h	798.20	−0.001%	$138.6M	$76.1M	75x	as long as short
MEXC BNB_USDT	+0.0074%	8h	799.20	+0.124%	$83.1M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0074%	8h	798.86	+0.082%	$496.2M	$809.9M	75x	as long as short
Lighter BNB	+0.0096%	1h	798.79	+0.073%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.04	+0.229%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.60	+0.049%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.07	+0.107%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.30	+0.011%	$54.2M	$110.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.90	+0.087%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.22	+0.001%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.37	+0.020%	$78.2M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.52	+0.165%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.37	+0.145%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.64	+0.054%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.56	+0.044%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.69	+0.061%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.17	+0.120%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.70	+0.061%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.49	+0.035%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.39	+0.147%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.07	−0.017%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.64	+0.054%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.051%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.73	+0.065%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	799.20	+0.124%	$90K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0191%	1h	799.16	+0.120%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0194%	8h	799.67	+0.183%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.04	+0.104%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0289%	1h	799.14	+0.117%	$53.1M	$20.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.04	+0.104%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0312%	1h	799.36	+0.144%	$68K	$38K	12x	as long as short
Reya BNBRUSDPERPlong	+0.0330%	1h	798.21	long leg	$6K	$3K	40x
Backpack BNB_USDC_PERP	+0.0429%	1h	799.22	+0.127%	$2.7M	$5.7M	40x	as long as short