Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.055%

Price spread now: Hotstuff against Aster−0.053%52s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Hotstuff

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—+ Points / potential airdropAster: Stage 5 · Hotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Hotstuff is 0.053% cheaper against Aster than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	Aster BNBUSDT	789.07	0.0030	pay 0.0030% / 8h	6h 11m	$6.1M	$20.1M	200x
Short	Hotstuff BNB-PERP	788.65	−0.0080	pay 0.0010% / 1h	11m 50s	$4K	$239	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Aster. 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 AsterbpFee HotstuffbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$23
Price spread: −0.053% → 0.000%: −$5.32
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$41.33
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 min ago; Hotstuff: 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 Aster live order book, 2 min ago	0.19 bp	4.2 bp −$4	5.8 bp −$58	21.0 bp −$2,100	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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]	L −0.0167% / S +0.0335%	1h	788.64	−0.054%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	788.89	−0.023%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	788.65	−0.053%	$4K	$239	25x
StandX BNB-USD	0.0000%	1h	788.92	−0.019%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.71	−0.046%	$9.6M	—	150x	as long as short
Aster BNBUSDTlong	+0.0030%	8h	789.07	long leg	$6.1M	$20.1M	200x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.030%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0042%	8h	788.60	−0.060%	$35.2M	$57.4M	75x	as long as short
Variational Omni BNB	+0.0044%	8h	790.50	+0.182%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDT	+0.0049%	8h	788.86	−0.027%	—	$34.9M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	786.59	−0.314%	$618K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.42	+0.044%	$69.0M	$50.7M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	789.50	+0.054%	$80.2M	$13.1M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	789.17	+0.013%	$490.9M	$825.1M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0066%	8h	787.84	−0.156%	$2.9M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0081%	1h	788.84	−0.029%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	794.20	+0.650%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.72	−0.044%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.81	−0.033%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.20	−0.110%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.32	+0.032%	$51.7M	$19.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.82	−0.031%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.54	−0.067%	$138.9M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.50	−0.072%	$53.4M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.90	−0.022%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.47	−0.076%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.54	−0.067%	$77.7M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.20	−0.111%	$4.1M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.28	−0.227%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.62	−0.057%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.87	−0.026%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.35	+0.036%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.90	−0.022%	$388K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.23	−0.106%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.31	+0.031%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.35	−0.092%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.85	−0.027%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	789.04	−0.004%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	789.00	−0.009%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.626%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.38	+0.039%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.45	−0.079%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	789.40	+0.042%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.33	+0.033%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	788.57	−0.064%	$68K	$39K	12x	as long as short