Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)−0.026%7-day average −0.004% · 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−$284as in the Price arb table

costs, in and out, $10k−$2822.817% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.087%+$9 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.026%, 7d avg −0.004%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.023% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of −0.004%). If the spread goes back, that is −$2 on $10k: about 20 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BNB/USD	787.31	L +0.0007% / S −0.0007%	pay 0.0001% / 1h	6m 26s	$9.5M	—	150x
Short	OKX BNB-USDT-SWAP	787.10	0.0100	get 0.0100% / 8h	3h 06m	$53.4M	$111.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OKXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $19.43
Price spread: −0.026% → −0.004%: −$2.27
Slippage, 4 orders: −$261.73
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$264.57
Costs to cover: 2.817%
Break-even: 102.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; OKX: 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2253.7 bp −$1.13M
Sell OKX live order book, 3 min ago	0.64 bp	5.6 bp −$6	7.7 bp −$77	20.0 bp −$1,998	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 −0.0192% / S +0.0356%	1h	787.22	−0.011%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.27	−0.005%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.81	−0.063%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.00	−0.039%	$122K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	786.49	−0.104%	$848K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0007% / S −0.0007%	1h	787.31	long leg	$9.5M	—	150x
Aster BNBUSDT	+0.0022%	8h	787.94	+0.080%	$6.1M	$19.1M	200x	as long as short
BingX BNB-USDC	+0.0033%	8h	787.39	+0.011%	—	$13.4M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.259%	$19K	$789K	30x	as long as short
Phemex BNBUSDT	+0.0040%	8h	787.13	−0.022%	$68.8M	$50.7M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0041%	8h	788.40	+0.139%	$79.9M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0043%	8h	787.92	+0.078%	$490.5M	$804.1M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	788.00	+0.088%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0076%	1h	787.22	−0.011%	$159K	$61K	10x	as long as short
Phoenix BNB	+0.0092%	1h	786.26	−0.133%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.39	+0.010%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.31	0.000%	$265K	$491K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.10	−0.026%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.86	+0.070%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.60	+0.038%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.001%	$138.3M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	787.10	−0.026%	$53.4M	$111.7M	50x
Arcus BNB-USD	+0.0100%	1h	787.50	+0.025%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.25	−0.007%	$36.2M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.08	−0.029%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.94	−0.047%	$76.1M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.41	+0.013%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	−0.038%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.48	−0.105%	$4.1M	$74.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.20	−0.141%	$158K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.24	−0.009%	$132K	$956K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.35	+0.005%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.98	+0.085%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	+0.012%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.98	−0.169%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.52	+0.028%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.95	−0.046%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.27	−0.005%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0161%	8h	787.40	+0.012%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0179%	8h	786.55	−0.096%	$2.9M	$28.8M	10x	as long as short
Bulk BNB-USD	+0.0201%	1h	787.88	+0.073%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.02	+0.091%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.73	+0.053%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.09	−0.028%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0431%	1h	787.55	+0.031%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	786.80	−0.065%	$67K	$39K	12x	as long as short