Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h −0.034%

Price spread now: GRVT against SoDEX+0.089%7-day average +0.065% · 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−$17as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on SoDEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.089%, 7d avg +0.065%

Together, before fees−0.113%+ Points / potential airdropGRVT: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GRVT is 0.024% dearer against SoDEX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.065%. Mind the row above: over the last 3 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	786.10	0.0100	pay 0.0013% / 1h	34m 57s	$386K	$983K	10x
Short	GRVT BNB_USDT_Perp	786.80	0.0228	get 0.0228% / 8h	1h 34m	$2.9M	$29.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against SoDEX. 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 SoDEXbpFee GRVTbpOrdersPrice spread, now +0.089%Rate

Funding earned: $26.88
Price spread: +0.089% → +0.065%: $2.37
Slippage, 4 orders: −$2.05
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $10.21
Costs to cover: 0.190%
Break-even: 4.3 days

Slippage from SoDEX: live order book, 19 min ago; GRVT: live order book, 4 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 SoDEX live order book, 19 min ago	0.63 bp	4.6 bp −$5	8.6 bp −$86	75.0 bp −$7,497	doesn't fit
Sell GRVT live order book, 4 min ago	0.06 bp	4.6 bp −$5	6.4 bp −$64	21.7 bp −$2,173	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 −0.0170% / S +0.0337%	1h	785.92	−0.023%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.28	+0.023%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.90	+0.102%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.72	−0.048%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.416%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0049%	8h	786.55	+0.057%	$6.0M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0052%	8h	786.08	−0.003%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.10	+0.127%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	786.49	+0.050%	$490.0M	$814.8M	75x	as long as short
dYdX BNB-USD	+0.0064%	1h	785.68	−0.054%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	786.48	+0.048%	$68.8M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	+0.099%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.08	−0.002%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.75	−0.045%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.48	+0.048%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.24	+0.018%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.78	−0.041%	$138.3M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.70	−0.051%	$53.4M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.10	0.000%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.95	−0.019%	$37.3M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.59	−0.065%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.85	−0.032%	$76.1M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.40	+0.038%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.51	−0.075%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.54	+0.057%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.24	+0.018%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.78	−0.041%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.93	−0.022%	$264K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.009%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.41	+0.040%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USDlong	+0.0100%	1h	786.10	long leg	$386K	$983K	10x
HTX BNB-USDT	+0.0100%	8h	786.10	0.000%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.59	+0.062%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.57	−0.068%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.91	−0.024%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.29	+0.024%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0135%	8h	786.40	+0.038%	$171K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0184%	8h	786.45	+0.045%	$17.7M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	785.87	−0.029%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perpshort	+0.0228%	8h	786.80	+0.089%	$2.9M	$29.5M	10x
01 Exchange BNBUSD	+0.0248%	1h	786.44	+0.043%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.42	+0.041%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	+0.125%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	785.61	−0.062%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.12	+0.003%	$1.1M	$913K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	786.07	−0.004%	$67K	$39K	12x	as long as short