Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.019%

Price spread now: gTrade (Gains Network) against Bybit+0.020%7-day average +0.026% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$284as in the Price arb table

costs, in and out, $10k−$2832.832% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.042%−$4 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now +0.020%, 7d avg +0.026%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	800.40	−0.0005	get 0.0005% / 8h	7h 25m	$139.0M	$75.7M	75x
Short	gTrade (Gains Network) BNB/USD	800.56	L +0.0008% / S −0.0007%	get 0.0001% / 1h	25m 19s	$9.8M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.020%Rate

Funding earned: $2.48
Price spread: +0.020% → +0.026%: −$0.6
Slippage, 4 orders: −$262.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$281.36
Costs to cover: 2.832%
Break-even: 802.7 days

Slippage from Bybit: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 4 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 Bybit live order book, 4 min ago	0.63 bp	7.0 bp −$7	9.4 bp −$94	25.6 bp −$2,555	171.4 bp −$85.7K
Sell gTrade (Gains Network) virtual book (oracle venue), 4 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 −0.0159% / S +0.0334%	1h	800.55	+0.019%	$48K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0120%	1h	800.52	+0.015%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.30	−0.012%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0024%	8h	800.30	−0.012%	—	$13.4M	—	as long as short
Bybit BNBUSDTlong	−0.0005%	8h	800.40	long leg	$139.0M	$75.7M	75x
GRVT BNB_USDT_Perp	0.0000%	8h	799.53	−0.108%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.70	−0.087%	$864K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	800.95	+0.069%	$70.0M	$50.1M	50x	as long as short
Variational Omni BNB	+0.0003%	8h	799.72	−0.085%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0008% / S −0.0007%	1h	800.56	+0.020%	$9.8M	—	150x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.586%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0039%	8h	800.40	0.000%	$35.8M	$56.5M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	800.80	+0.050%	$617K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0059%	8h	800.83	+0.053%	$6.2M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0081%	8h	801.10	+0.088%	$497.1M	$811.8M	75x	as long as short
MEXC BNB_USDT	+0.0081%	8h	801.00	+0.075%	$83.3M	$13.6M	200x	as long as short
Lighter BNB	+0.0096%	1h	800.90	+0.062%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.45	+0.006%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.00	−0.050%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.50	+0.013%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.50	+0.012%	$54.3M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.40	0.000%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.98	−0.052%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.21	−0.024%	$78.9M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.40	−0.125%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.54	−0.107%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.13	−0.034%	$115K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.52	+0.015%	$387K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.77	+0.046%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.26	+0.107%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.80	+0.050%	$394K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.35	−0.006%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.81	+0.052%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.32	−0.010%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.73	+0.041%	$385K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	−0.140%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	800.22	−0.022%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	801.30	+0.112%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0201%	8h	801.17	+0.096%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	800.60	+0.025%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0215%	1h	800.07	−0.041%	$161K	$63K	10x	as long as short
Hibachi BNB/USDT-P	+0.0216%	1h	800.70	+0.037%	$69K	$38K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.15	+0.094%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0305%	1h	800.90	+0.062%	$53.2M	$20.7M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	799.71	−0.086%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0393%	1h	800.89	+0.061%	$2.7M	$5.7M	40x	as long as short