Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.052%

Price spread now: BingX against GMX+0.060%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 BingX

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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BingX is 0.060% dearer against GMX than usual: you sell high and buy low: +$6 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]	785.38	L −0.0168% / S +0.0337%	get 0.0021% / 1h	35m 59s	$43K	—	200x
Short	BingX BNB-USDC	785.85	0.0035	get 0.0035% / 8h	7h 35m	—	$13.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.060%Rate

Funding earned: $42.56
Price spread: +0.060% → 0.000%: $6.04
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $26.6
Costs to cover: 0.220%
Break-even: 2.6 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 2 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 BingX live order book, 2 min ago	0.32 bp	6.4 bp −$6	9.2 bp −$92	23.1 bp −$2,307	71.6 bp −$35.8K

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 −0.0168% / S +0.0337%	1h	785.38	long leg	$43K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	786.37	+0.127%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.73	+0.045%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.12	+0.095%	$2.9M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.71	+0.170%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.38	+0.001%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0023%	8h	786.12	+0.095%	$6.0M	$18.4M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.510%	$19K	$789K	30x	as long as short
BingX BNB-USDCshort	+0.0035%	8h	785.85	+0.060%	—	$13.4M	—
MEXC BNB_USDT	+0.0039%	8h	787.40	+0.258%	$82.4M	$12.2M	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	+0.0040%	8h	786.08	+0.090%	$488.7M	$812.3M	75x	as long as short
Lighter BNB	+0.0096%	1h	785.75	+0.047%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.35	−0.003%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.35	+0.124%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.81	+0.055%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.40	+0.003%	$138.3M	$73.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.50	+0.016%	$53.4M	$110.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.70	+0.041%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.70	+0.041%	$39.4M	$55.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.15	−0.029%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.24	−0.017%	$75.3M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.09	+0.091%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.22	−0.020%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.98	+0.077%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.12	+0.095%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.54	+0.021%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.54	+0.021%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.63	+0.033%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.96	+0.075%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.80	+0.054%	$386K	$943K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.69	+0.039%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.09	+0.092%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.24	−0.017%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.53	+0.020%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	786.00	+0.079%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	+0.155%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.32	+0.120%	$158K	$38K	10x	as long as short
dYdX BNB-USD	+0.0128%	1h	785.69	+0.041%	$157K	$64K	10x	as long as short
Phemex BNBUSDT	+0.0143%	8h	786.29	+0.116%	$68.5M	$51.1M	50x	as long as short
BloFin BNB-USDT	+0.0158%	8h	786.34	+0.123%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.96	+0.074%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	785.97	+0.076%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	785.89	+0.065%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.26	−0.015%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	785.63	+0.032%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	786.13	+0.096%	$67K	$39K	12x	as long as short