Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against MEXC−0.176%7-day average −0.209% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$273as in the Price arb table

costs, in and out, $10k−$2762.765% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 7 days−0.039%−$4 · spread now −0.176%, 7d avg −0.209%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.032% dearer against MEXC than usual: you sell high and buy low (spread −0.176% now, against its 7-day average of −0.209%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 3 days (−0.078% in total) that is about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	787.40	0.0041	pay 0.0041% / 8h	3h 07m	$79.8M	$12.1M	200x
Short	gTrade (Gains Network) BNB/USD	786.01	L +0.0007% / S −0.0007%	get 0.0001% / 1h	7m 35s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.176%Rate

Funding earned: −$7.1
Price spread: −0.176% → −0.209%: $3.22
Slippage, 4 orders: −$262.47
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$280.34
Costs to cover: 2.765%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; gTrade (Gains Network): virtual book (oracle venue), 2 min ago.

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 MEXC live order book, 1 min ago	0.64 bp	2.6 bp −$3	5.1 bp −$51	24.7 bp −$2,471	43.0 bp −$21.5K
Sell gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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]	L −0.0192% / S +0.0356%	1h	786.01	−0.176%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0125%	1h	786.14	−0.160%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.81	−0.075%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	786.60	−0.102%	$122K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.52	+0.015%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	786.01	−0.176%	$9.5M	—	150x
Aster BNBUSDT	+0.0021%	8h	787.16	−0.030%	$6.1M	$19.1M	200x	as long as short
BingX BNB-USDT	+0.0033%	8h	786.59	−0.103%	—	$22.3M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.247%	$19K	$789K	30x	as long as short
MEXC BNB_USDTlong	+0.0041%	8h	787.40	long leg	$79.8M	$12.1M	200x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0041%	8h	787.37	−0.004%	$490.1M	$804.0M	75x	as long as short
Phemex BNBUSDT	+0.0041%	8h	786.59	−0.103%	$68.8M	$50.7M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	788.00	+0.076%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0077%	1h	786.56	−0.107%	$159K	$61K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.74	+0.043%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	786.56	−0.107%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.21	−0.151%	$264K	$491K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.30	−0.267%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.07	−0.042%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.71	−0.087%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.28	−0.142%	$138.1M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.140%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.90	−0.064%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.121%	$36.1M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.23	−0.149%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.23	−0.149%	$76.1M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.79	−0.077%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	−0.050%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.48	−0.117%	$4.1M	$74.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.52	+0.015%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.64	−0.224%	$131K	$956K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.26	−0.145%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.38	−0.130%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.30	−0.140%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.92	−0.188%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.89	−0.065%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−0.147%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.21	−0.151%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0161%	8h	786.39	−0.128%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0179%	8h	786.55	−0.108%	$2.9M	$28.8M	10x	as long as short
Bulk BNB-USD	+0.0201%	1h	787.88	+0.061%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.44	+0.005%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.61	−0.101%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.69	−0.217%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0431%	1h	787.00	−0.050%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	785.94	−0.185%	$67K	$39K	12x	as long as short