Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0270%/8h= +29.6% APRpaid last 24h +0.065%

Price spread now: KuCoin against GMX−0.012%7-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 KuCoin

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	786.16	L −0.0170% / S +0.0337%	get 0.0021% / 1h	51m 45s	$43K	—	200x
Short	KuCoin BNBUSDTM	786.06	0.0100	get 0.0100% / 8h	1h 51m	$27.7M	$10.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.012%Rate

Funding earned: $56.73
Price spread: −0.012% → 0.000%: −$1.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $31.51
Costs to cover: 0.240%
Break-even: 3.1 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago	0.82 bp	13.1 bp −$13	24.1 bp −$241	55.4 bp −$5,543	doesn'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 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 −0.0170% / S +0.0337%	1h	786.16	long leg	$43K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	786.92	+0.097%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.20	+0.133%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.21	+0.007%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.408%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0047%	8h	786.88	+0.092%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	786.48	+0.041%	—	$22.2M	—	as long as short
dYdX BNB-USD	+0.0057%	1h	786.44	+0.036%	$159K	$62K	10x	as long as short
MEXC BNB_USDT	+0.0066%	8h	787.20	+0.133%	$80.9M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	786.82	+0.084%	$489.9M	$816.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0073%	8h	786.85	+0.088%	$68.8M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.283%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.45	+0.038%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.29	+0.017%	$264K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.95	−0.026%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.47	+0.040%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.20	+0.006%	$138.3M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.20	+0.006%	$53.4M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	+0.044%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.30	+0.018%	$37.0M	$58.6M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	786.06	−0.012%	$27.7M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	786.07	−0.011%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.71	+0.071%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.12	+0.123%	$4.1M	$75.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	+0.128%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.06	−0.012%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.43	+0.035%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.06	+0.115%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.40	+0.031%	$387K	$986K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.64	+0.062%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.84	+0.088%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.99	−0.021%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.33	+0.022%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0130%	1h	786.87	+0.091%	$51.5M	$17.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0133%	8h	786.90	+0.095%	$169K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.80	+0.209%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.12	+0.123%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.16	+0.001%	$2.5M	$1.2M	50x	as long as short
Backpack BNB_USDC_PERP	+0.0213%	1h	786.75	+0.076%	$2.2M	$6.1M	40x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.37	+0.154%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.86	+0.090%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.64	+0.062%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.01	−0.019%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.133%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.65	+0.062%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	786.63	+0.060%	$67K	$39K	12x	as long as short