Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against KuCoin+0.019%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$290as in the Price arb table

costs, in and out, $10k−$2932.927% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.085%−$9 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.019%, 7d avg −0.003%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.023% dearer against KuCoin than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.003%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	786.06	0.0100	pay 0.0100% / 8h	1h 51m	$27.6M	$10.2M	75x
Short	gTrade (Gains Network) BNB/USD	786.21	L +0.0007% / S −0.0007%	get 0.0001% / 1h	51m 50s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. 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 KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.019%Rate

Funding earned: −$19.49
Price spread: +0.019% → −0.003%: $2.27
Slippage, 4 orders: −$270.66
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$309.88
Costs to cover: 2.927%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; gTrade (Gains Network): virtual book (oracle venue), 2 min ago.

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 KuCoin live order book, 7 min ago	0.82 bp	9.5 bp −$10	17.3 bp −$173	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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 −0.0170% / S +0.0337%	1h	786.16	+0.012%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.92	+0.109%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.20	+0.145%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	786.21	+0.019%	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.421%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	786.92	+0.110%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.44	+0.048%	—	$13.4M	—	as long as short
dYdX BNB-USD	+0.0064%	1h	786.44	+0.049%	$159K	$62K	10x	as long as short
Binance BNBUSDT	+0.0067%	8h	786.83	+0.098%	$489.9M	$816.3M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.40	+0.170%	$80.9M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0073%	8h	786.85	+0.101%	$68.8M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.295%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.44	+0.049%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.29	+0.029%	$264K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.95	−0.014%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.56	+0.064%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.16	+0.013%	$138.3M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.10	+0.005%	$53.4M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.081%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.30	+0.031%	$37.0M	$58.6M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	786.06	long leg	$27.6M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	786.07	+0.001%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.71	+0.083%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.12	+0.135%	$4.1M	$75.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.16	+0.140%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.06	0.000%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.43	+0.047%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.06	+0.127%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.40	+0.043%	$387K	$986K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.64	+0.074%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.67	+0.078%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.99	−0.009%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.33	+0.034%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0132%	1h	786.99	+0.118%	$51.5M	$17.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0133%	8h	786.90	+0.107%	$169K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.80	+0.221%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.12	+0.135%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.16	+0.013%	$2.5M	$1.2M	50x	as long as short
Backpack BNB_USDC_PERP	+0.0213%	1h	786.75	+0.088%	$2.2M	$6.1M	40x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.37	+0.167%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.86	+0.102%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.64	+0.074%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.01	−0.007%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.145%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.65	+0.074%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	786.63	+0.072%	$67K	$39K	12x	as long as short