Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0456%/8h= −49.9% APRpaid last 24h −0.118%

Price spread now: GMX against Orderly−0.015%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

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: −$14 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	788.33	0.0100	pay 0.0100% / 8h	3h 19m	$265K	$492K	50x
Short	GMX BNB/USD [WBTC.b-USDC]	788.21	L −0.0192% / S +0.0356%	pay 0.0044% / 1h	19m 31s	$46K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$95.68
Price spread: −0.015% → 0.000%: −$1.53
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$115.21
Costs to cover: 0.180%
Break-even: never at this rate

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

Orderly and 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]short	L −0.0192% / S +0.0356%	1h	788.21	−0.015%	$46K	—	200x
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.08	−0.032%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.93	−0.051%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.90	+0.072%	$126K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.56	+0.029%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.26	−0.009%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0023%	8h	788.33	0.000%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.126%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0036%	8h	787.73	−0.076%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0042%	8h	788.40	+0.009%	$79.9M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0043%	8h	788.27	−0.008%	$491.4M	$800.8M	75x	as long as short
Phemex BNBUSDT	+0.0044%	8h	788.62	+0.037%	$69.0M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.19	−0.145%	$588K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0091%	1h	787.87	−0.059%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0092%	1h	788.22	−0.014%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.91	−0.053%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	788.33	long leg	$265K	$492K	50x
Nado BNB-PERP	+0.0100%	1h	787.45	−0.112%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.48	+0.019%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.88	−0.057%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.55	−0.099%	$138.6M	$73.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.40	−0.118%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.90	−0.055%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.55	−0.099%	$36.0M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.69	−0.081%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.31	−0.129%	$76.2M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.34	+0.001%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.116%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.05	−0.036%	$4.1M	$74.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.86	−0.060%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.57	−0.096%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.40	+0.009%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.85	+0.066%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.30	−0.004%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.16	−0.021%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.90	−0.055%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.23	−0.139%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.29	−0.005%	$379K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0163%	8h	788.23	−0.013%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0175%	8h	788.39	+0.008%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0193%	1h	788.28	−0.006%	$638K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.28	−0.006%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.77	+0.056%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.30	−0.130%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	787.79	−0.068%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.00	−0.041%	$1.1M	$893K	20x	as long as short