Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0067%/8hpaid last 24h −0.010%

Price spread now: Injective against Gate+0.116%7-day average −0.353% · you sell dearer than you buy

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.305%−$31 on $10k

Price spread, last 3 days (all we have)−0.543%−$54 · spread now +0.116%, 7d avg −0.353%

Together, before fees−0.848%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.470% dearer against Gate than usual: you sell high and buy low (spread +0.116% now, against its 7-day average of −0.353%): +$47 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 23 days. At the pace of the last 7 days (−0.305% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	799.40	0.0100	pay 0.0100% / 8h	4h 07m	$35.9M	$59.6M	75x
Short	Injective BNB/USDC PERP	800.33	0.0033	get 0.0004% / 1h	7m 06s	$19K	$513K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.116%Rate

Funding earned: −$14
Price spread: +0.116% → −0.353%: $46.98
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $17.96
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 1 min ago; Injective: no order-book sample. 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 Gate live order book, 1 min ago	0.31 bp	9.6 bp −$10	12.4 bp −$124	26.7 bp −$2,666	56.7 bp −$28.3K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0195% / S +0.0371%	1h	799.77	+0.046%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.93	+0.066%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.79	+0.049%	$3.0M	$29.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.92	+0.065%	$865K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0008%	1h	799.86	+0.058%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	800.33	+0.116%	$19K	$513K	30x
Coinbase International BNB-PERP-INTX	+0.0056%	1h	800.07	+0.084%	$601K	$900K	50x	as long as short
Variational Omni BNB	+0.0070%	8h	798.95	−0.057%	$4.1M	$5.5M	—	as long as short
BingX BNB-USDC	+0.0078%	8h	799.84	+0.055%	—	$13.2M	—	as long as short
Aster BNBUSDT	+0.0091%	8h	800.12	+0.090%	$6.3M	$18.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	800.10	+0.087%	$2.9M	$3.9M	20x	as long as short
MEXC BNB_USDT	+0.0097%	8h	800.80	+0.175%	$84.0M	$15.2M	200x	as long as short
Binance BNBUSDT	+0.0098%	8h	800.14	+0.093%	$516.6M	$803.0M	75x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.48	+0.010%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.74	+0.042%	$1.2M	$916K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	799.30	−0.013%	$138.3M	$86.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.40	0.000%	$54.9M	$116.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.70	+0.038%	$53K	$221K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	799.40	long leg	$35.9M	$59.6M	75x
KuCoin BNBUSDTM	+0.0100%	8h	799.41	+0.001%	$28.0M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.27	−0.016%	$78.4M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.11	+0.088%	$4.2M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.09	+0.086%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.69	+0.036%	$120K	$881K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.70	+0.038%	$386K	$627K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.85	+0.057%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.14	+0.092%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.70	+0.038%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	800.10	+0.087%	$1.6M	$159K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.95	+0.068%	$8.2M	$7.0M	75x	as long as short
Bulk BNB-USD	+0.0100%	1h	799.93	+0.066%	$649K	$3K	10x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.18	+0.097%	$78K	$19K	50x	as long as short
Kalshi KXBNBPERP	+0.0101%	8h	800.20	+0.100%	$107K	$2.7M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	799.28	−0.015%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.79	+0.049%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0110%	8h	800.27	+0.109%	$70.0M	$51.8M	50x	as long as short
Phoenix BNB	+0.0151%	1h	799.88	+0.060%	$172K	$28K	10x	as long as short
RISEx BNB/USDC	+0.0165%	1h	799.76	+0.046%	$1.1M	$1.4M	20x	as long as short
Kraken Futures PF_BNBUSD	+0.0185%	1h	799.62	+0.027%	$2.5M	$915K	50x	as long as short
BloFin BNB-USDT	+0.0218%	8h	800.22	+0.103%	$18.9M	$3.0M	75x	as long as short
Hyperliquid BNB	+0.0225%	1h	800.25	+0.106%	$51.3M	$21.4M	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	800.35	+0.119%	$28K	$1K	10x	as long as short
Hibachi BNB/USDT-P	+0.0312%	1h	800.10	+0.087%	$70K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	799.42	+0.002%	$9K	—	40x	as long as short
dYdX BNB-USD	+0.0363%	1h	799.53	+0.017%	$169K	$55K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0690%	1h	800.70	+0.163%	$3.0M	$5.3M	40x	as long as short