Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.055%

Price spread now: Bulk against Gate−0.059%7-day average +0.112% · 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−$43as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Gate Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.238%+$24 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.059%, 7d avg +0.112%

Together, before fees+0.391%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.171% cheaper against Gate than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of +0.112%). If the spread goes back, that is −$17 on $10k: about 6.3 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.238% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	799.30	0.0100	pay 0.0100% / 8h	1m 07s	$35.7M	$58.8M	75x
Short	Bulk BNB-USD	798.83	0.0191	get 0.0024% / 1h	1m 07s	$649K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Gate. 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 GatebpFee BulkbpOrdersPrice spread, now −0.059%Rate

Funding earned: $19.11
Price spread: −0.059% → +0.112%: −$17.14
Slippage, 4 orders: −$3.59
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$23.62
Costs to cover: 0.256%
Break-even: 15.7 days

Slippage from Gate: live order book, 3 min ago; Bulk: live order book, 13 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 Gate live order book, 3 min ago	0.31 bp	10.7 bp −$11	13.4 bp −$134	28.0 bp −$2,803	56.6 bp −$28.3K
Sell Bulk live order book, 13 min ago	0.06 bp	3.6 bp −$4	3.8 bp −$38	6.6 bp −$660	16.5 bp −$8,258

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 −0.0201% / S +0.0372%	1h	799.37	+0.009%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.62	+0.040%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.42	+0.016%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.072%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.71	+0.051%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.38	+0.010%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	798.84	−0.057%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0030%	8h	799.54	+0.030%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0040%	8h	799.34	+0.005%	$138.8M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.078%	$602K	$985K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0077%	8h	800.00	+0.088%	$6.2M	$19.3M	200x	as long as short
Phemex BNBUSDT	+0.0092%	8h	800.10	+0.100%	$70.0M	$50.7M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.81	+0.063%	$2.8M	$4.1M	20x	as long as short
Binance BNBUSDT	+0.0097%	8h	800.12	+0.103%	$498.1M	$818.7M	75x	as long as short
MEXC BNB_USDT	+0.0098%	8h	800.50	+0.150%	$83.2M	$13.6M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.95	−0.044%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.51	+0.026%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.30	0.000%	$54.4M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.40	+0.013%	$53K	$133K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	799.30	long leg	$35.7M	$58.8M	75x
KuCoin BNBUSDTM	+0.0100%	8h	799.54	+0.030%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.36	+0.008%	$78.9M	$27.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.62	+0.040%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.34	+0.005%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.20	−0.013%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.46	+0.020%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.65	+0.044%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.77	+0.059%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.70	+0.050%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.44	+0.017%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.92	+0.078%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.20	−0.012%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.64	+0.042%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.116%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.11	−0.024%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	799.80	+0.063%	$90K	$2.9M	4.8x	as long as short
Bulk BNB-USDshort	+0.0191%	1h	798.83	−0.059%	$649K	$17K	10x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.02	+0.090%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0217%	8h	800.12	+0.103%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0250%	1h	800.39	+0.136%	$52.6M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.34	+0.004%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.73	+0.054%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.724%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0312%	1h	799.90	+0.075%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0329%	1h	798.88	−0.053%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.91	−0.049%	$6K	$3K	40x	as long as short