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: Orderly against GMX+0.009%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 Orderly

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]	786.89	L −0.0170% / S +0.0337%	get 0.0021% / 1h	44m 58s	$43K	—	200x
Short	Orderly PERP_BNB_USDC	786.96	0.0100	get 0.0100% / 8h	1h 44m	$265K	$471K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.009%Rate

Funding earned: $56.73
Price spread: +0.009% → 0.000%: $0.86
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $39.59
Costs to cover: 0.180%
Break-even: 2.1 days

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	786.89	long leg	$43K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	786.54	−0.045%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.82	−0.009%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.89	0.000%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.313%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	787.19	+0.038%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.79	−0.013%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0067%	8h	787.22	+0.042%	$490.4M	$816.6M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.70	+0.103%	$81.0M	$12.0M	200x	as long as short
dYdX BNB-USD	+0.0069%	1h	786.47	−0.054%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	787.02	+0.016%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	−0.002%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.02	+0.017%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.05	−0.107%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.36	−0.068%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.59	−0.038%	$138.5M	$75.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.050%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.40	−0.063%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.70	−0.024%	$37.1M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.68	−0.027%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.36	−0.068%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.125%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.94	+0.006%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.08	+0.024%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.67	−0.028%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	786.96	+0.009%	$265K	$471K	50x
Derive BNB-PERP	+0.0100%	1h	787.19	+0.038%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.47	+0.073%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	+0.014%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.86	−0.005%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.80	−0.012%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.37	−0.066%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.00	+0.013%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0123%	1h	787.47	+0.073%	$51.5M	$17.6M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0123%	1h	787.37	+0.061%	$2.2M	$6.1M	40x	as long as short
Phoenix BNB	+0.0135%	1h	786.68	−0.027%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0141%	8h	787.00	+0.014%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.52	+0.080%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.99	+0.013%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.04	+0.019%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.74	−0.019%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.42	+0.067%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.56	−0.043%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.039%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.39	−0.064%	$1.1M	$913K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	786.45	−0.057%	$67K	$39K	12x	as long as short