Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.071%

Price spread now: Binance against GMX−0.058%50s7-day average — · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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. Binance is 0.058% cheaper against GMX than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	791.36	L −0.0167% / S +0.0335%	get 0.0021% / 1h	7m 33s	$46K	—	200x
Short	Binance BNBUSDT	790.90	0.0071	get 0.0071% / 8h	5h 07m	$493.9M	$791.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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

Position, each leg$Hold fordaysFee GMXbpFee BinancebpOrdersPrice spread, now −0.058%Rate

Funding earned: $49.98
Price spread: −0.058% → 0.000%: −$5.83
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $22.15
Costs to cover: 0.220%
Break-even: 3.9 days

Slippage unknown: GMX: no order-book sample; Binance: live order book, 6 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	0.06 bp	6.0 bp −$6	6.8 bp −$68	18.1 bp −$1,810	44.2 bp −$22.1K

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 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]long	L −0.0167% / S +0.0335%	1h	791.36	long leg	$46K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	791.76	+0.050%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.16	+0.101%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	791.89	+0.067%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.735%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.68	+0.166%	$592K	$1.9M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	791.06	−0.038%	$6.2M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0050%	8h	792.19	+0.105%	$69.4M	$50.4M	50x	as long as short
BingX BNB-USDC	+0.0060%	8h	791.30	−0.008%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0071%	8h	791.50	+0.017%	$80.4M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDTshort	+0.0071%	8h	790.90	−0.058%	$493.9M	$791.5M	75x
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.72	+0.046%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.12	−0.031%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.80	+0.055%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.25	−0.141%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.41	+0.006%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.10	−0.033%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.00	−0.172%	$139.0M	$76.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.90	−0.185%	$53.5M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.70	−0.084%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.80	−0.071%	$35.4M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.61	−0.095%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.95	−0.179%	$76.6M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.94	+0.073%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.10	−0.034%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.80	+0.056%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.37	+0.001%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.29	−0.136%	$133K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.93	+0.072%	$32K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.99	+0.079%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.80	+0.055%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.00	+0.080%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	791.73	+0.047%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.13	−0.155%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.73	+0.047%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.64	+0.035%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0141%	8h	791.87	+0.065%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	792.80	+0.182%	$104K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0187%	1h	791.19	−0.021%	$160K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0192%	8h	791.99	+0.079%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	790.87	−0.062%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.94	−0.179%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	790.71	−0.082%	$1.1M	$979K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.104%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	792.24	+0.111%	$1.5M	$143K	25x	as long as short
Hibachi BNB/USDT-P	+0.0576%	1h	791.63	+0.034%	$68K	$38K	12x	as long as short