Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.057%

Price spread now: BingX against GMX+0.032%7-day average — · you sell dearer than you buy

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

Long on GMX Short on BingX

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BingX is 0.032% dearer against GMX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	798.72	L −0.0159% / S +0.0334%	get 0.0020% / 1h	27m 29s	$47K	—	200x
Short	BingX BNB-USDT	798.98	−0.0024	pay 0.0024% / 8h	7h 27m	—	$35.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $28.36
Price spread: +0.032% → 0.000%: $3.21
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $9.57
Costs to cover: 0.220%
Break-even: 4.6 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 11 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 BingX live order book, 11 min ago	0.13 bp	5.1 bp −$5	6.0 bp −$60	12.5 bp −$1,245	39.6 bp −$19.8K

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 −0.0159% / S +0.0334%	1h	798.72	long leg	$47K	—	200x
Kraken Futures PF_BNBUSD	−0.0120%	1h	799.34	+0.077%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.51	+0.099%	$4K	$239	25x	as long as short
BingX BNB-USDTshort	−0.0024%	8h	798.98	+0.032%	—	$35.0M	—
Bybit BNBUSDT	−0.0014%	8h	798.68	−0.005%	$138.8M	$75.5M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.48	+0.095%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.70	+0.122%	$864K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	799.58	+0.107%	$69.8M	$50.2M	50x	as long as short
Gate BNB_USDT	+0.0001%	8h	798.70	−0.003%	$35.8M	$56.4M	75x	as long as short
Variational Omni BNB	+0.0003%	8h	798.43	−0.037%	$4.1M	$5.2M	—	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.83	+0.013%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.797%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.54	−0.023%	$614K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0060%	8h	799.60	+0.110%	$6.2M	$19.2M	200x	as long as short
Binance BNBUSDT	+0.0081%	8h	799.40	+0.085%	$496.0M	$809.5M	75x	as long as short
MEXC BNB_USDT	+0.0082%	8h	799.80	+0.135%	$83.2M	$13.6M	200x	as long as short
Lighter BNB	+0.0096%	1h	799.17	+0.056%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	798.91	+0.023%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.61	−0.014%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.10	+0.047%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.70	−0.003%	$54.3M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.20	+0.060%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.90	+0.022%	$27.9M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.59	−0.017%	$78.8M	$27.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.99	+0.034%	$4.2M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.82	+0.012%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.89	+0.021%	$117K	$878K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.29	+0.071%	$386K	$458K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.50	+0.097%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.90	+0.147%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.50	+0.097%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.21	+0.061%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.53	+0.101%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.44	−0.036%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.41	+0.086%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	+0.069%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.96	+0.029%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	800.00	+0.160%	$90K	$2.8M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0200%	1h	799.61	+0.111%	$69K	$38K	12x	as long as short
BloFin BNB-USDT	+0.0203%	8h	799.12	+0.050%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	799.57	+0.106%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0225%	1h	799.33	+0.076%	$161K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.84	+0.140%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0307%	1h	799.84	+0.140%	$53.2M	$20.7M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.56	−0.020%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0394%	1h	800.10	+0.172%	$2.7M	$5.7M	40x	as long as short