Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.2% APRpaid last 24h +0.079%

Price spread now: dYdX against Gate−0.050%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$500.505% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.476%+$48 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.050%, 7d avg +0.015%

Together, before fees+0.533%+$53 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.065% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	783.95	0.0100	pay 0.0100% / 8h	22m 14s	$38.2M	$58.3M	75x
Short	dYdX BNB-USD	783.56	0.0099	get 0.0012% / 1h	22m 14s	$159K	$62K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$0.3
Price spread: −0.050% → +0.015%: −$6.51
Slippage, 4 orders: −$25.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$57.29
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; dYdX: live order book, 17 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, 2 min ago	0.32 bp	8.5 bp −$8	8.8 bp −$88	24.2 bp −$2,424	54.8 bp −$27.4K
Sell dYdX live order book, 17 min ago	10.36 bp	17.5 bp −$17	52.9 bp −$529	64.1 bp −$6,408	267.0 bp −$133.5K

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	784.08	+0.016%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.15	+0.026%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.01	+0.007%	$2.5M	$1.2M	50x	as long as short
Variational Omni BNB	0.0000%	8h	783.51	−0.057%	$4.0M	$4.7M	—	as long as short
StandX BNB-USD	0.0000%	1h	784.22	+0.034%	$846K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.04	+0.011%	$9.4M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.697%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	784.54	+0.075%	$6.0M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0040%	8h	783.93	−0.003%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	785.10	+0.147%	$80.7M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0049%	8h	784.55	+0.077%	$487.2M	$819.4M	75x	as long as short
Phemex BNBUSDT	+0.0074%	8h	784.40	+0.057%	$68.5M	$51.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.12	+0.022%	$2.7M	$3.8M	20x	as long as short
dYdX BNB-USDshort	+0.0099%	1h	783.56	−0.050%	$159K	$62K	10x
Phoenix BNB	+0.0100%	1h	784.15	+0.026%	$162K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.80	−0.019%	$1.3M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.67	+0.092%	$51.4M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.27	+0.041%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	783.80	−0.019%	$137.9M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	783.80	−0.019%	$53.3M	$112.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.10	+0.019%	$52K	$125K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	783.95	long leg	$38.2M	$58.3M	75x
KuCoin BNBUSDTM	+0.0100%	8h	783.82	−0.017%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.67	−0.036%	$75.2M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.44	+0.063%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.39	+0.056%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.99	+0.133%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.84	−0.014%	$131K	$944K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.08	+0.017%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.17	+0.027%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.59	+0.082%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.20	+0.032%	$386K	$968K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.34	+0.050%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.60	+0.082%	$78K	$17K	50x	as long as short
Kalshi KXBNBPERP	+0.0101%	8h	784.90	+0.121%	$171K	$2.7M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	783.69	−0.033%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.11	+0.020%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.48	+0.068%	$546K	$1.9M	50x	as long as short
BloFin BNB-USDT	+0.0169%	8h	784.21	+0.033%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0208%	1h	785.53	+0.202%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	784.62	+0.085%	$2.9M	$28.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	784.50	+0.070%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.51	+0.071%	$1.5M	$141K	25x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	783.65	−0.038%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.28	+0.043%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	783.66	−0.037%	$67K	$39K	12x	as long as short