Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h +0.008%

Price spread now: Gate against Injective−0.309%7-day average +0.326% · you buy dearer than you sell

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 3 days (all we have)+0.829%+$83 · spread now −0.309%, 7d avg +0.326%

Together, before fees+1.013%+$101 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.635% cheaper against Injective than usual: you would sell low and buy high (−$63 if the spread goes back to its 7-day average of +0.326%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.185%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0306	pay 0.0038% / 1h	48m 32s	$19K	$789K	30x
Short	Gate BNB_USDT	802.60	0.0100	get 0.0100% / 8h	48m 32s	$35.9M	$57.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −0.309%Rate

Funding earned: −$43.29
Price spread: −0.309% → +0.326%: −$63.49
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$121.8
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	0.31 bp	9.6 bp −$10	13.4 bp −$134	27.8 bp −$2,780	56.1 bp −$28.0K

Injective: 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]	L −0.0201% / S +0.0372%	1h	802.55	−0.315%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.98	−0.262%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.50	−0.322%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.04	−0.255%	$3.0M	$28.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.39	−0.211%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.66	−0.301%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0029%	8h	802.05	−0.378%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.97	−0.263%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0063%	8h	802.50	−0.322%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.543%	$607K	$996K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	803.27	−0.226%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.45	−0.328%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.06	−0.252%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.322%	$54.7M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.10	−0.247%	$53K	$133K	10x	as long as short
Gate BNB_USDTshort	+0.0100%	8h	802.60	−0.309%	$35.9M	$57.7M	75x
KuCoin BNBUSDTM	+0.0100%	8h	802.76	−0.289%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.41	−0.333%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.14	−0.242%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.77	−0.288%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.70	−0.297%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.27	−0.350%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.45	−0.328%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.28	−0.225%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.44	−0.329%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.43	−0.207%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	803.40	−0.210%	$6.3M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.31	−0.346%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.36	−0.339%	$385K	$40K	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	802.90	−0.272%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0113%	8h	802.94	−0.267%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.80	−0.160%	$83.6M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.43	−0.206%	$502.5M	$818.0M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.03	−0.256%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0147%	1h	802.60	−0.309%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	802.79	−0.286%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.77	−0.288%	$71K	$49K	12x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.14	−0.242%	$18.2M	$2.6M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	803.03	−0.256%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0260%	1h	803.68	−0.175%	$52.0M	$21.4M	10x	as long as short
Injective BNB/USDC PERPlong	+0.0306%	1h	805.09	long leg	$19K	$789K	30x
Bulk BNB-USD	+0.0309%	1h	803.58	−0.188%	$653K	$20K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	802.35	−0.340%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0335%	1h	803.31	−0.221%	$2.7M	$5.7M	40x	as long as short
01 Exchange BNBUSD	+0.0384%	1h	803.56	−0.190%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0461%	1h	802.89	−0.274%	$162K	$62K	10x	as long as short