Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0219%/8h= +24.0% APRpaid last 24h +0.048%

Price spread now: Hyperliquid against Aster−0.001%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 7 days−0.087%−$9 · spread now −0.001%, 7d avg −0.065%

Together, before fees+0.004%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hyperliquid is 0.063% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.065%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	800.58	0.0097	pay 0.0097% / 8h	1h 03m	$6.3M	$18.9M	200x
Short	Hyperliquid BNB	800.57	0.0316	get 0.0040% / 1h	3m 20s	$51.8M	$21.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.001%Rate

Funding earned: $46.07
Price spread: −0.001% → −0.065%: $6.33
Slippage, 4 orders: −$4.4
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $31
Costs to cover: 0.214%
Break-even: 2.3 days

Slippage from Aster: live order book, 6 min ago; Hyperliquid: live order book, 10 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 Aster live order book, 6 min ago	0.69 bp	4.8 bp −$5	6.0 bp −$60	18.6 bp −$1,857	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.31 bp	6.4 bp −$6	doesn't fit	doesn't fit	doesn't fit

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	799.73	−0.106%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.40	−0.022%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.22	−0.044%	$3.0M	$28.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.91	+0.041%	$866K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.76	−0.102%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0028%	8h	798.74	−0.230%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0052%	8h	799.96	−0.077%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	799.44	−0.142%	$139.0M	$78.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	800.46	−0.015%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	799.17	−0.176%	$605K	$994K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDTlong	+0.0097%	8h	800.58	long leg	$6.3M	$18.9M	200x
Nado BNB-PERP	+0.0100%	1h	799.63	−0.119%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.41	−0.021%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.60	−0.122%	$54.7M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.60	+0.002%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.60	−0.122%	$35.7M	$59.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.87	−0.089%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.65	−0.116%	$80.7M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.20	−0.047%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.21	−0.046%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.80	−0.097%	$121K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.77	−0.101%	$386K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.95	−0.078%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.81	+0.029%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.10	−0.060%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.91	−0.083%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.79	+0.027%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.55	−0.128%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.05	−0.066%	$384K	$40K	10x	as long as short
Kalshi KXBNBPERP	+0.0107%	8h	800.50	−0.010%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0116%	8h	800.43	−0.019%	$70.0M	$51.1M	50x	as long as short
MEXC BNB_USDT	+0.0117%	8h	800.80	+0.027%	$83.2M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	800.43	−0.019%	$500.7M	$818.3M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.03	−0.069%	$172K	$35K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.24	−0.042%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.92	−0.083%	$2.6M	$965K	50x	as long as short
Hibachi BNB/USDT-P	+0.0232%	1h	799.87	−0.088%	$71K	$48K	12x	as long as short
BloFin BNB-USDT	+0.0237%	8h	800.44	−0.017%	$18.3M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0298%	1h	800.20	−0.047%	$650K	$21K	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.563%	$19K	$789K	30x	as long as short
Hyperliquid BNBshort	+0.0316%	1h	800.57	−0.001%	$51.8M	$21.6M	10x
RISEx BNB/USDC	+0.0318%	1h	800.38	−0.025%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	800.83	+0.031%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.45	−0.141%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0361%	1h	799.99	−0.074%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0561%	1h	800.88	+0.037%	$2.7M	$5.7M	40x	as long as short