Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0176%/8h= −19.2% APRpaid last 24h −0.066%

Price spread now: gTrade (Gains Network) against BloFin−0.060%7-day average −0.090% · 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−$280as in the Price arb table

costs, in and out, $10k−$2832.828% of the position

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.187%−$19 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.060%, 7d avg −0.090%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.030% dearer against BloFin than usual: you sell high and buy low (spread −0.060% now, against its 7-day average of −0.090%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	788.19	0.0183	pay 0.0183% / 8h	1h 21m	$17.7M	$2.2M	75x
Short	gTrade (Gains Network) BNB/USD	787.72	L +0.0007% / S −0.0007%	get 0.0001% / 1h	21m 02s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.060%Rate

Funding earned: −$36.89
Price spread: −0.060% → −0.090%: $3.03
Slippage, 4 orders: −$260.79
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$316.65
Costs to cover: 2.828%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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 BloFin live order book, 3 min ago	0.13 bp	6.1 bp −$6	7.1 bp −$71	14.1 bp −$1,405	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

BNB on 45 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 −0.0170% / S +0.0337%	1h	787.60	−0.075%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.81	−0.048%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.06	−0.016%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	787.72	−0.060%	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.144%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0051%	8h	788.22	+0.004%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0051%	8h	787.82	−0.047%	—	$22.3M	—	as long as short
Binance BNBUSDT	+0.0063%	8h	788.13	−0.008%	$490.9M	$818.8M	75x	as long as short
MEXC BNB_USDT	+0.0063%	8h	788.60	+0.052%	$81.1M	$12.1M	200x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	−0.030%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	788.26	+0.009%	$68.9M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.113%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.83	−0.046%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	−0.069%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.29	+0.013%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.04	−0.020%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.60	−0.075%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.40	−0.100%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.00	−0.024%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.65	−0.069%	$37.6M	$59.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.42	−0.098%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.40	−0.100%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.09	−0.013%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.061%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.00	−0.024%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.70	−0.062%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.62	−0.072%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.68	−0.065%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.26	+0.008%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.80	−0.049%	$387K	$980K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.76	−0.054%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.36	+0.021%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.31	−0.112%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.66	−0.067%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0129%	8h	788.50	+0.039%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	−0.062%	$169K	$35K	10x	as long as short
BloFin BNB-USDTlong	+0.0183%	8h	788.19	long leg	$17.7M	$2.2M	75x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.09	−0.013%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.59	−0.076%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.19	0.000%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.28	+0.011%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.016%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.40	−0.101%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.02	−0.022%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0512%	1h	787.65	−0.068%	$67K	$39K	12x	as long as short