Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h +0.028%

Price spread now: edgeX against gTrade (Gains Network)+0.153%68s7-day average +0.071% · 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—prices read too far apart to compare

costs, in and out, $10k−$2842.841% of the position

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.153%, 7d avg +0.071%

Together, before fees+0.005%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.083% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.071%. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BNB/USD	785.05	L +0.0007% / S −0.0007%	pay 0.0001% / 1h	35m 48s	$9.5M	—	150x
Short	edgeX BNBUSDC	786.25	0.0100	get 0.0050% / 4h	35m 48s	$4.1M	$76.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now +0.153%Rate

Funding earned: $19.43
Price spread: +0.153% → +0.071%: $8.28
Slippage, 4 orders: −$265.1
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$256.39
Costs to cover: 2.841%
Break-even: 99.4 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; edgeX: live order book, 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2253.7 bp −$1.13M
Sell edgeX live order book, 3 min ago	2.54 bp	7.0 bp −$7	7.0 bp −$70	10.7 bp −$1,074	doesn't fit

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 −0.0168% / S +0.0337%	1h	785.07	+0.002%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.65	+0.076%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.92	−0.017%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	786.17	+0.143%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0007% / S −0.0007%	1h	785.05	long leg	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.553%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0042%	8h	785.57	+0.066%	$6.0M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0044%	8h	785.06	+0.001%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0053%	8h	785.57	+0.066%	$488.2M	$822.6M	75x	as long as short
MEXC BNB_USDT	+0.0053%	8h	786.20	+0.146%	$80.9M	$11.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0067%	1h	785.74	+0.088%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0082%	8h	785.62	+0.073%	$68.6M	$51.5M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.06	+0.001%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	786.10	+0.134%	$168K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.00	−0.006%	$1.3M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.66	+0.078%	$51.4M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.41	+0.046%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.95	−0.013%	$138.2M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.80	−0.032%	$53.4M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.10	+0.006%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.05	0.000%	$38.3M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.77	−0.036%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.60	−0.057%	$76.0M	$31.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.40	+0.045%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.70	−0.045%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	786.25	+0.153%	$4.1M	$76.1M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	786.94	+0.241%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.84	−0.027%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.11	+0.008%	$264K	$422K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.15	+0.012%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.66	+0.078%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.20	+0.019%	$386K	$972K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.06	+0.002%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.58	+0.067%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.63	−0.053%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.07	+0.002%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	785.57	+0.066%	$554K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0110%	8h	785.70	+0.083%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0174%	8h	785.82	+0.098%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.44	+0.050%	$1.5M	$145K	25x	as long as short
Bulk BNB-USD	+0.0201%	1h	786.50	+0.185%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0224%	8h	786.60	+0.198%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	785.36	+0.039%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	784.68	−0.047%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.19	+0.018%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	785.82	+0.098%	$67K	$39K	12x	as long as short