Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.025%

Price spread now: gTrade (Gains Network) against Bybit+0.065%7-day average +0.026% · 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−$281as in the Price arb table

costs, in and out, $10k−$2842.844% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.065%, 7d avg +0.026%

Together, before fees−0.101%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.039% dearer against Bybit than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.026%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	805.02	0.0085	pay 0.0085% / 8h	1h 46m	$139.5M	$81.9M	75x
Short	gTrade (Gains Network) BNB/USD	805.54	L +0.0008% / S −0.0007%	get 0.0001% / 1h	46m 29s	$9.8M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.065%Rate

Funding earned: −$16.23
Price spread: +0.065% → +0.026%: $3.9
Slippage, 4 orders: −$263.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$296.76
Costs to cover: 2.844%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 Bybit live order book, 3 min ago	0.62 bp	6.1 bp −$6	8.0 bp −$80	22.2 bp −$2,218	116.8 bp −$58.4K
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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 −0.0195% / S +0.0371%	1h	805.51	+0.061%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.30	+0.159%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.16	+0.017%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.90	+0.109%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.84	+0.102%	$871K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0008% / S −0.0007%	1h	805.54	+0.065%	$9.8M	—	150x
Variational Omni BNB	+0.0047%	8h	804.38	−0.079%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0059%	8h	805.61	+0.073%	—	$34.5M	—	as long as short
Hibachi BNB/USDT-P	+0.0072%	1h	805.46	+0.055%	$71K	$48K	12x	as long as short
Bybit BNBUSDTlong	+0.0085%	8h	805.02	long leg	$139.5M	$81.9M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.61	+0.073%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	+0.065%	$608K	$880K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.12	+0.012%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.69	+0.084%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.30	+0.035%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.80	+0.097%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.45	+0.053%	$36.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.27	+0.031%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.08	+0.007%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.44	+0.052%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.50	+0.060%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.38	+0.045%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.19	+0.021%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.43	+0.051%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.88	+0.106%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.57	+0.068%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.13	+0.138%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0104%	8h	806.13	+0.138%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.98	−0.004%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.30	+0.035%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	806.60	+0.196%	$84.7M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	806.32	+0.162%	$520.8M	$804.2M	75x	as long as short
Phemex BNBUSDT	+0.0133%	8h	805.78	+0.094%	$70.3M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	805.60	+0.072%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0167%	1h	805.30	+0.035%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0173%	1h	806.24	+0.152%	$51.9M	$22.0M	10x	as long as short
dYdX BNB-USD	+0.0193%	1h	805.84	+0.102%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.14	+0.015%	$2.5M	$931K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	806.34	+0.164%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	+0.066%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.70	+0.084%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.009%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.68	+0.082%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	805.17	+0.019%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	806.37	+0.168%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0713%	1h	806.41	+0.173%	$3.0M	$5.5M	40x	as long as short