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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 12:00 UTC+0.0266%/8h= +29.2% APRnext payment +$0.33 per $10,000 · paid last 24h +0.119%
Price spread now: Backpack against GMX−0.056%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Funding pays, the price is against you. Backpack is 0.056% cheaper against GMX than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX BNB/USD [WBTC.b-USDC]786.31L −0.0166% / S +0.0336%get 0.0021% / 1h50m 03s$43K—200x
ShortBackpack BNB_USDC_PERP785.870.0100get 0.0013% / 1h50m 03s$2.2M$6.0M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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

Funding earned
$55.96
Price spread: −0.056% → 0.000%
−$5.59
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
$28.37
Costs to cover
0.220%
Break-even
3.5 days
Slippage unknown: GMX: no order-book sample; Backpack: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample—————
Sell Backpack live order book, 2 min ago0.06 bp6.0 bp −$68.9 bp −$89doesn't fitdoesn't fit
GMX: 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 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]longL −0.0166% / S +0.0336%1h786.31long leg$43K—200x
Kraken Futures PF_BNBUSD−0.0138%1h785.54−0.098%$2.6M$1.4M50xas long as short
Hotstuff BNB-PERP−0.0080%1h786.45+0.018%$4K—25xas long as short
Bybit BNBUSDT−0.0058%8h785.10−0.154%$138.5M$66.1M75xas long as short
BingX BNB-USDC−0.0048%8h785.93−0.048%—$13.4M—as long as short
Aster BNBUSDT0.0000%8h786.07−0.030%$5.9M$16.8M200xas long as short
GRVT BNB_USDT_Perp0.0000%8h787.72+0.179%$2.9M$26.7M10xas long as short
Kalshi KXBNBPERP0.0000%8h786.50+0.024%$153K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h786.90+0.075%$849K$3.0M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h786.23−0.010%$9.5M—150xas long as short
Show all 46 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC BNB_USDT+0.0008%8h786.90+0.075%$83.3M$11.5M200xas long as short
Binance BNBUSDT+0.0008%8h786.10−0.027%$480.0M$753.8M75xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.388%$19K$789K30xas long as short
BloFin BNB-USDT+0.0037%8h786.54+0.029%$18.5M$2.3M75xas long as short
Phemex BNBUSDT+0.0077%8h785.85−0.058%$68.2M$50.3M50xas long as short
Variational Omni BNB+0.0087%8h785.24−0.136%$4.3M$4.3M—as long as short
Lighter BNB+0.0096%1h785.74−0.072%$2.7M$2.9M20xas long as short
Nado BNB-PERP+0.0100%1h786.05−0.033%$1.3M$2.3M20xas long as short
Hyperliquid BNB+0.0100%1h786.08−0.029%$52.0M$16.4M10xas long as short
Pacifica BNB+0.0100%1h786.07−0.031%$1.2M$928K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h785.20−0.141%$53.3M$100.1M50xas long as short
Arcus BNB-USD+0.0100%1h786.30−0.001%$57K$124K10xas long as short
Gate BNB_USDT+0.0100%8h785.40−0.116%$42.1M$51.7M75xas long as short
KuCoin BNBUSDTM+0.0100%8h785.68−0.080%$28.1M$9.6M75xas long as short
Bitget BNBUSDT+0.0100%8h785.06−0.159%$75.5M$30.7M75xas long as short
Backpack BNB_USDC_PERPshort+0.0100%1h785.87−0.056%$2.2M$6.0M40x
edgeX BNBUSDC+0.0100%4h787.64+0.169%$4.1M$71.4M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h787.46+0.146%$158K$459K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h786.20−0.014%$126K$909K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h785.92−0.050%$264K$258K50xas long as short
Derive BNB-PERP+0.0100%1h785.97−0.043%$31K$10K10xas long as short
SunX BNB-USDT+0.0100%8h786.62+0.039%$12K$1.3M50xas long as short
SoDEX BNB-USD+0.0100%1h786.10−0.027%$386K$923K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h786.17−0.018%$1.5M$126K25xas long as short
HTX BNB-USDT+0.0100%8h785.99−0.040%$8.0M$9.9M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h786.46+0.019%$78K$1.3M50xas long as short
Extended BNB-USD+0.0104%1h784.68−0.207%$1.8M$5.5M50xas long as short
Aevo BNB-PERP+0.0104%1h785.85−0.058%$377K$110K10xas long as short
Phoenix BNB+0.0116%1h787.45+0.145%$158K$45K10xas long as short
Coinbase International BNB-PERP-INTX+0.0136%1h785.93−0.048%$537K$1.9M50xas long as short
01 Exchange BNBUSD+0.0256%1h786.93+0.079%$28K$3K10xas long as short
Hibachi BNB/USDT-P+0.0272%1h786.13−0.023%$67K$34K12xas long as short
Bulk BNB-USD+0.0274%1h787.88+0.200%$638K$10K10xas long as short
Reya BNBRUSDPERP+0.0315%1h785.83−0.062%$6K$3K40xas long as short
dYdX BNB-USD+0.0327%1h785.90−0.053%$158K$34K10xas long as short
RISEx BNB/USDC+0.0391%1h786.48+0.021%$1.1M$939K20xas long as short