Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0437%/8h= −47.8% APRpaid last 24h −0.115%

Price spread now: GMX against Bybit+0.058%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 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 pays, funding is against you. GMX is 0.058% dearer against Bybit than usual: you sell high and buy low (spread +0.058% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	783.86	0.0100	pay 0.0100% / 8h	7h 30m	$138.1M	$73.1M	75x
Short	GMX BNB/USD [WBTC.b-USDC]	784.31	L −0.0166% / S +0.0337%	pay 0.0042% / 1h	30m 45s	$43K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$91.67
Price spread: +0.058% → 0.000%: $5.8
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$108.87
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.64 bp	6.1 bp −$6	8.3 bp −$83	23.3 bp −$2,328	144.2 bp −$72.1K
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 −0.0166% / S +0.0337%	1h	784.31	+0.058%	$43K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	784.66	+0.102%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	784.26	+0.052%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.06	+0.280%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	785.22	+0.174%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.17	+0.040%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0020%	8h	784.62	+0.097%	$5.9M	$18.4M	200x	as long as short
BingX BNB-USDC	+0.0031%	8h	784.71	+0.108%	—	$13.4M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.708%	$19K	$789K	30x	as long as short
Binance BNBUSDT	+0.0037%	8h	784.62	+0.097%	$487.7M	$808.0M	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	+0.0037%	8h	785.60	+0.222%	$82.2M	$12.2M	200x	as long as short
Lighter BNB	+0.0096%	1h	784.21	+0.044%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.15	+0.037%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.68	+0.105%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.62	+0.097%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	783.86	long leg	$138.1M	$73.1M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	783.80	−0.008%	$53.3M	$110.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.60	+0.094%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.10	+0.031%	$39.3M	$55.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.76	−0.013%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.76	−0.013%	$75.2M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.73	+0.111%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.02	+0.020%	$4.2M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.26	+0.179%	$4.1M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.29	+0.182%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.45	+0.075%	$131K	$924K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.28	+0.054%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.13	+0.034%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.88	+0.130%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.40	+0.069%	$386K	$942K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.22	+0.046%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.92	+0.135%	$78K	$37K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.64	−0.028%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.28	+0.054%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0109%	8h	785.00	+0.145%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	785.76	+0.242%	$547K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	785.84	+0.253%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0148%	8h	784.83	+0.124%	$17.8M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0150%	1h	784.84	+0.125%	$157K	$65K	10x	as long as short
Bulk BNB-USD	+0.0212%	1h	785.97	+0.269%	$637K	$831	10x	as long as short
Phemex BNBUSDT	+0.0220%	8h	784.99	+0.144%	$68.4M	$50.9M	50x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	784.92	+0.135%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.67	+0.103%	$1.5M	$141K	25x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	783.96	+0.012%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	784.60	+0.094%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	784.84	+0.125%	$67K	$39K	12x	as long as short