Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0435%/8h= −47.6% APRpaid last 24h −0.105%

Price spread now: GMX against Variational Omni+0.039%7-day average — · you sell dearer than you buy

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

Long on Variational Omni 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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. GMX is 0.039% dearer against Variational Omni than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BNB	791.10	0.0100	pay 0.0100% / 8h	5h 08m	$4.1M	$4.6M	—
Short	GMX BNB/USD [WBTC.b-USDC]	791.40	L −0.0167% / S +0.0335%	pay 0.0042% / 1h	8m 51s	$46K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$91.25
Price spread: +0.039% → 0.000%: $3.9
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$99.35
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; 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 Variational Omni RFQ quote, just now	3.34 bp	doesn't fit	4.9 bp −$49	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 −0.0167% / S +0.0335%	1h	791.40	+0.039%	$46K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	791.63	+0.068%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.95	+0.234%	$857K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	791.40	+0.039%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.769%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.118%	$615K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0049%	8h	791.85	+0.095%	$69.4M	$50.5M	50x	as long as short
Aster BNBUSDT	+0.0050%	8h	791.80	+0.089%	$6.2M	$18.6M	200x	as long as short
BingX BNB-USDC	+0.0060%	8h	791.27	+0.022%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0071%	8h	791.86	+0.097%	$494.5M	$790.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0072%	8h	792.20	+0.140%	$80.5M	$12.5M	200x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.20	+0.013%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.58	+0.061%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.48	+0.049%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.95	−0.018%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.78	+0.086%	$52.0M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.40	+0.038%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.20	+0.013%	$139.2M	$76.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.00	−0.012%	$53.8M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.40	+0.038%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.15	+0.007%	$35.4M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.07	−0.003%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	790.80	−0.037%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.70	+0.076%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNBlong	+0.0100%	8h	791.10	long leg	$4.1M	$4.6M	—
edgeX BNBUSDC	+0.0100%	4h	791.85	+0.096%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.88	+0.099%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.19	+0.012%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.62	+0.067%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.97	+0.111%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.60	+0.064%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.39	+0.037%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	791.86	+0.097%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.89	−0.026%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.43	+0.042%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.53	+0.055%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0143%	8h	792.25	+0.146%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	791.90	+0.102%	$82K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0189%	1h	791.19	+0.012%	$160K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0192%	8h	791.99	+0.113%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	791.92	+0.104%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.87	+0.098%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.98	−0.015%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.50	+0.051%	$1.1M	$980K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.138%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	792.19	+0.138%	$68K	$38K	12x	as long as short