Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against MEXC−0.130%59s7-day average −0.208% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2762.762% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 7 days−0.080%−$8 · spread now −0.130%, 7d avg −0.208%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.078% dearer against MEXC than usual: you sell high and buy low (spread −0.130% now, against its 7-day average of −0.208%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.8 days. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	788.50	0.0061	pay 0.0061% / 8h	1h 16m	$81.1M	$12.1M	200x
Short	gTrade (Gains Network) BNB/USD	787.47	L +0.0007% / S −0.0007%	get 0.0001% / 1h	16m 33s	$9.5M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.130%Rate

Funding earned: −$11.3
Price spread: −0.130% → −0.208%: $7.8
Slippage, 4 orders: −$262.17
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$279.66
Costs to cover: 2.762%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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 MEXC live order book, 3 min ago	0.63 bp	2.6 bp −$3	5.0 bp −$50	21.8 bp −$2,175	39.6 bp −$19.8K
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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]	L −0.0170% / S +0.0337%	1h	787.40	−0.139%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.96	−0.068%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.18	−0.041%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0007% / S −0.0007%	1h	787.47	−0.130%	$9.5M	—	150x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.104%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.65	−0.108%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0051%	8h	788.01	−0.063%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDTlong	+0.0061%	8h	788.50	long leg	$81.1M	$12.1M	200x
Binance BNBUSDT	+0.0062%	8h	787.91	−0.075%	$490.4M	$820.6M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	−0.069%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.09	−0.052%	$68.9M	$51.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.152%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.70	−0.102%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.159%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.10	−0.051%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.84	−0.084%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.152%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.152%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.114%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.45	−0.133%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.08	−0.180%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.19	−0.166%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.11	−0.049%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.138%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.95	−0.069%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	−0.039%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.30	−0.152%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.48	−0.129%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.99	−0.065%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.114%	$387K	$979K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.80	−0.089%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.16	−0.043%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.02	−0.187%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.51	−0.126%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0125%	8h	787.90	−0.076%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	−0.101%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	788.16	−0.043%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.88	−0.079%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.50	−0.127%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.28	−0.028%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.23	−0.034%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	−0.023%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.12	−0.174%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.69	−0.103%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	787.60	−0.114%	$67K	$39K	12x	as long as short