Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0407%/8h= −44.6% APRpaid last 24h −0.122%

Price spread now: GMX against Binance−0.011%7-day average — · you buy dearer than you sell

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

Long on Binance 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: −$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	791.84	0.0072	pay 0.0072% / 8h	5h 09m	$494.7M	$790.5M	75x
Short	GMX BNB/USD [WBTC.b-USDC]	791.75	L −0.0167% / S +0.0335%	pay 0.0042% / 1h	9m 52s	$46K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$85.44
Price spread: −0.011% → 0.000%: −$1.1
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$108.54
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 4 min ago; 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 Binance live order book, 4 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	16.2 bp −$1,617	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	791.75	−0.011%	$46K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	792.54	+0.088%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.31	+0.059%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.79	−0.006%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.673%	$19K	$789K	30x	as long as short
Phemex BNBUSDT	+0.0046%	8h	792.22	+0.048%	$69.4M	$50.5M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.024%	$615K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0051%	8h	792.08	+0.030%	$6.2M	$18.6M	200x	as long as short
BingX BNB-USDT	+0.0059%	8h	791.48	−0.045%	—	$34.3M	—	as long as short
MEXC BNB_USDT	+0.0072%	8h	792.20	+0.045%	$80.5M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDTlong	+0.0072%	8h	791.84	long leg	$494.7M	$790.5M	75x
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.61	−0.029%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.93	+0.012%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.86	+0.003%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.95	+0.014%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.87	+0.004%	$52.0M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	792.36	+0.066%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.23	−0.077%	$139.2M	$76.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.10	−0.093%	$53.7M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.20	+0.045%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.30	−0.068%	$35.4M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.39	−0.057%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.01	−0.105%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.94	+0.013%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.10	−0.094%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.77	−0.009%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.88	+0.005%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.99	+0.019%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.99	+0.019%	$32K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.45	+0.077%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.90	+0.008%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.00	+0.020%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.70	+0.109%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.99	−0.107%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.75	−0.012%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.53	−0.039%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0143%	8h	791.96	+0.015%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0186%	8h	792.50	+0.083%	$82K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0192%	8h	792.33	+0.062%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0195%	1h	791.84	0.000%	$160K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	792.17	+0.041%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	792.65	+0.102%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.57	−0.034%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	792.40	+0.071%	$1.1M	$982K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.043%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	791.66	−0.023%	$68K	$38K	12x	as long as short