Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0266%/8h= +29.2% APRpaid last 24h +0.069%

Price spread now: Orderly against GMX−0.006%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 Orderly

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BNB/USD [WBTC.b-USDC]	789.32	L −0.0167% / S +0.0335%	get 0.0021% / 1h	56m 22s	$46K	—	200x
Short	Orderly PERP_BNB_USDC	789.27	0.0100	get 0.0100% / 8h	5h 56m	$381K	$380K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.006%Rate

Funding earned: $55.96
Price spread: −0.006% → 0.000%: −$0.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: $37.32
Costs to cover: 0.180%
Break-even: 2.3 days

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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 45 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	789.32	long leg	$46K	—	200x
Hotstuff BNB-PERP	−0.0080%	1h	790.01	+0.087%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.36	+0.005%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.33	+0.001%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.998%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.94	+0.079%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.66	+0.043%	$619K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0052%	8h	789.65	+0.042%	$69.1M	$50.8M	50x	as long as short
BingX BNB-USDT	+0.0053%	8h	789.59	+0.034%	—	$34.5M	—	as long as short
Variational Omni BNB	+0.0062%	8h	789.21	−0.014%	$4.1M	$4.8M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0069%	8h	790.30	+0.124%	$80.5M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0069%	8h	789.96	+0.081%	$494.6M	$809.1M	75x	as long as short
Gate BNB_USDT	+0.0081%	8h	789.40	+0.010%	$35.5M	$56.2M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.72	+0.051%	$170K	$34K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.15	−0.021%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.23	−0.011%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	789.27	−0.006%	$381K	$380K	50x
Nado BNB-PERP	+0.0100%	1h	789.05	−0.034%	$1.5M	$2.6M	20x	as long as short
Pacifica BNB	+0.0100%	1h	789.42	+0.013%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.30	−0.003%	$138.9M	$78.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.20	−0.015%	$53.4M	$112.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.80	+0.061%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.42	+0.013%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.00	−0.041%	$77.0M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.37	−0.120%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.88	+0.071%	$4.1M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.78	+0.058%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.46	+0.018%	$137K	$945K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.46	+0.018%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.06	+0.093%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.31	−0.002%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	790.13	+0.103%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.00	−0.040%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.34	+0.003%	$379K	$110K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0105%	8h	789.83	+0.065%	$2.9M	$28.3M	10x	as long as short
Hyperliquid BNB	+0.0105%	1h	790.04	+0.091%	$51.8M	$18.7M	10x	as long as short
SoDEX BNB-USD	+0.0166%	1h	789.40	+0.010%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	787.90	−0.180%	$91K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0275%	1h	788.97	−0.045%	$160K	$64K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	789.80	+0.061%	$640K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	790.24	+0.116%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	789.25	−0.009%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.95	+0.080%	$1.1M	$1.1M	20x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.80	+0.061%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	788.90	−0.054%	$67K	$39K	12x	as long as short