Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0228%/8h= +24.9% APRpaid last 24h +0.071%

Price spread now: Binance against GMX+0.024%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Binance is 0.024% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	793.27	L −0.0167% / S +0.0335%	get 0.0021% / 1h	43m 14s	$46K	—	200x
Short	Binance BNBUSDT	793.46	0.0061	get 0.0061% / 8h	6h 43m	$493.3M	$816.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.024%Rate

Funding earned: $47.84
Price spread: +0.024% → 0.000%: $2.41
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $28.26
Costs to cover: 0.220%
Break-even: 2.9 days

Slippage unknown: GMX: no order-book sample; Binance: live order book, 16 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	0.06 bp	5.1 bp −$5	6.3 bp −$63	14.6 bp −$1,455	doesn't fit

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]long	L −0.0167% / S +0.0335%	1h	793.27	long leg	$46K	—	200x
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.02	−0.032%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.65	+0.048%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0009%	8h	793.10	−0.021%	$35.4M	$55.4M	75x	as long as short
StandX BNB-USD	0.0000%	1h	793.84	+0.072%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.25	−0.002%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0010%	8h	792.53	−0.093%	$4.1M	$5.0M	—	as long as short
GRVT BNB_USDT_Perp	+0.0011%	8h	793.23	−0.005%	$3.0M	$28.4M	10x	as long as short
Phemex BNBUSDT	+0.0018%	8h	793.54	+0.034%	$69.3M	$50.3M	50x	as long as short
Aster BNBUSDT	+0.0031%	8h	793.87	+0.076%	$6.1M	$19.9M	200x	as long as short

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	+1.490%	$19K	$789K	30x	as long as short
dYdX BNB-USD	+0.0039%	1h	793.18	−0.011%	$160K	$63K	10x	as long as short
BingX BNB-USDT	+0.0050%	8h	793.34	+0.009%	—	$34.9M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	792.52	−0.094%	$608K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	794.10	+0.105%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDTshort	+0.0061%	8h	793.46	+0.024%	$493.3M	$816.1M	75x
Phoenix BNB	+0.0088%	1h	793.02	−0.031%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.23	−0.005%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.06	−0.026%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.25	−0.002%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.70	+0.054%	$1.2M	$932K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	792.80	−0.059%	$138.1M	$77.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.30	−0.122%	$53.2M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.50	+0.029%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.10	−0.021%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.21	−0.007%	$77.4M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.14	−0.016%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.32	+0.006%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.25	−0.002%	$111K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.23	−0.004%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.07	+0.101%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.20	−0.009%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.04	−0.029%	$8.1M	$8.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.89	+0.078%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.80	−0.059%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.15	−0.015%	$381K	$110K	10x	as long as short
Hyperliquid BNB	+0.0121%	1h	793.92	+0.082%	$52.6M	$19.9M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.47	+0.025%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0160%	8h	793.80	+0.067%	$111K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0167%	1h	793.21	−0.007%	$644K	$10K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.06	+0.100%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	793.90	+0.080%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.06	−0.026%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0376%	1h	794.24	+0.122%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	793.58	+0.039%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0480%	1h	792.90	−0.047%	$68K	$38K	12x	as long as short