Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0259%/8h= +28.4% APRpaid last 24h +0.070%

Price spread now: OKX against GMX−0.127%7-day average — · you buy dearer than you sell

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

Long on GMX Short on OKX

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

Funding pays, the price is against you. OKX is 0.127% cheaper against GMX than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 39 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	797.42	L −0.0159% / S +0.0335%	get 0.0020% / 1h	4m 18s	$47K	—	200x
Short	OKX BNB-USDT-SWAP	796.40	0.0100	get 0.0100% / 8h	7h 04m	$54.1M	$110.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.127%Rate

Funding earned: $54.4
Price spread: −0.127% → 0.000%: −$12.73
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: $19.66
Costs to cover: 0.220%
Break-even: 4.5 days

Slippage unknown: GMX: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.63 bp	7.6 bp −$8	9.8 bp −$98	21.9 bp −$2,193	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 −0.0159% / S +0.0335%	1h	797.42	long leg	$47K	—	200x
Kraken Futures PF_BNBUSD	−0.0121%	1h	796.89	−0.066%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	797.81	+0.049%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0009%	8h	797.10	−0.040%	$35.8M	$57.2M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.15	+0.218%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	797.92	+0.063%	$862K	$3.0M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	797.49	+0.009%	$69.6M	$50.2M	50x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.48	+0.008%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	796.50	−0.114%	$4.1M	$5.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.962%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0045%	8h	797.69	+0.035%	$6.1M	$19.5M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	+0.023%	$610K	$1.1M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	797.51	+0.012%	—	$34.9M	—	as long as short
MEXC BNB_USDT	+0.0069%	8h	798.40	+0.123%	$83.0M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0069%	8h	797.36	−0.007%	$496.3M	$810.4M	75x	as long as short
Bybit BNBUSDT	+0.0075%	8h	796.40	−0.127%	$138.5M	$76.3M	75x	as long as short
Lighter BNB	+0.0096%	1h	797.14	−0.034%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	797.27	−0.018%	$171K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.30	−0.014%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.72	+0.038%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	796.40	−0.127%	$54.1M	$110.5M	50x
Arcus BNB-USD	+0.0100%	1h	797.80	+0.048%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	797.33	−0.011%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.05	−0.046%	$78.1M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	797.71	+0.037%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.32	+0.239%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	797.37	−0.006%	$111K	$887K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.40	−0.002%	$385K	$467K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	797.42	0.000%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	797.83	+0.052%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	797.30	−0.014%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	796.96	−0.057%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.28	+0.109%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	796.87	−0.068%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	797.31	−0.013%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.160%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.62	+0.025%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0164%	8h	797.90	+0.061%	$104K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0187%	1h	797.56	+0.018%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0190%	8h	797.60	+0.023%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.09	+0.085%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	797.76	+0.044%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0282%	1h	798.24	+0.103%	$53.0M	$20.1M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.10	−0.040%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0384%	1h	797.27	−0.018%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	797.76	+0.043%	$2.7M	$5.7M	40x	as long as short