Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.048%

Price spread now: Gate against Bulk−0.153%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Bulk Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.240%−$24 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.153%, 7d avg −0.114%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.039% cheaper against Bulk than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.114%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	790.66	0.0234	pay 0.0029% / 1h	54m 17s	$640K	$9K	10x
Short	Gate BNB_USDT	789.45	0.0100	get 0.0100% / 8h	3h 54m	$35.7M	$56.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bulk. 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 BulkbpFee GatebpOrdersPrice spread, now −0.153%Rate

Funding earned: −$28.16
Price spread: −0.153% → −0.114%: −$3.87
Slippage, 4 orders: −$4.74
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$58.78
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Bulk: live order book, 65 min ago; Gate: live order book, 5 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 Bulk live order book, 65 min ago	0.06 bp	3.7 bp −$4	4.7 bp −$47	9.3 bp −$926	18.0 bp −$9,016
Sell Gate live order book, 5 min ago	0.32 bp	10.1 bp −$10	12.7 bp −$127	26.5 bp −$2,646	54.9 bp −$27.5K

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 −0.0191% / S +0.0355%	1h	789.34	−0.167%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	789.18	−0.187%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.60	−0.008%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.94	−0.091%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.36	−0.164%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.825%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	790.80	+0.018%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	789.64	−0.129%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	790.40	−0.033%	$80.1M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	789.92	−0.094%	$493.4M	$794.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0063%	8h	789.96	−0.089%	$69.1M	$50.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	789.35	−0.166%	$580K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.51	−0.146%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.34	−0.167%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.05	−0.077%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.31	−0.044%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.42	−0.030%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.24	−0.180%	$138.9M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	−0.197%	$53.4M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.40	−0.033%	$52K	$133K	10x	as long as short
Gate BNB_USDTshort	+0.0100%	8h	789.45	−0.153%	$35.7M	$56.5M	75x
KuCoin BNBUSDTM	+0.0100%	8h	789.89	−0.097%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.21	−0.183%	$76.4M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.54	−0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.171%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.35	−0.166%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.05	−0.204%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.75	−0.115%	$130K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.41	−0.158%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.83	−0.105%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.40	−0.159%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.80	−0.109%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	790.56	−0.013%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.93	−0.218%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.26	−0.177%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.35	−0.166%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0133%	1h	789.92	−0.094%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0163%	8h	789.64	−0.130%	$2.9M	$28.5M	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	790.62	−0.005%	$18.1M	$2.2M	75x	as long as short
Kalshi KXBNBPERP	+0.0192%	8h	790.10	−0.071%	$135K	$2.7M	4.8x	as long as short
Bulk BNB-USDlong	+0.0234%	1h	790.66	long leg	$640K	$9K	10x
01 Exchange BNBUSD	+0.0272%	1h	790.61	−0.006%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.72	−0.119%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.45	−0.153%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	790.06	−0.076%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	790.43	−0.029%	$1.1M	$902K	20x	as long as short