Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.058%

Price spread now: Hyperliquid against Binance−0.007%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

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

costs, in and out, $10k−$200.203% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days−0.077%−$8 · spread now −0.007%, 7d avg −0.062%

Together, before fees−0.001%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.055% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	794.07	0.0062	pay 0.0062% / 8h	6h 51m	$493.4M	$818.9M	75x
Short	Hyperliquid BNB	794.02	0.0108	get 0.0013% / 1h	51m 06s	$52.6M	$19.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now −0.007%Rate

Funding earned: $9.49
Price spread: −0.007% → −0.062%: $5.51
Slippage, 4 orders: −$1.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$5.3
Costs to cover: 0.203%
Break-even: 10.9 days

Slippage from Binance: live order book, 8 min ago; Hyperliquid: live order book, 12 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 Binance live order book, 8 min ago	0.06 bp	5.2 bp −$5	7.0 bp −$70	17.9 bp −$1,789	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.13 bp	5.1 bp −$5	8.3 bp −$83	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 −0.0161% / S +0.0334%	1h	793.24	−0.104%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.34	−0.093%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.55	−0.066%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0035%	8h	793.20	−0.110%	$35.5M	$55.2M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	792.87	−0.151%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	793.02	−0.132%	$857K	$3.0M	30x	as long as short
Variational Omni BNB	+0.0006%	8h	792.93	−0.144%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.18	−0.112%	$9.7M	—	150x	as long as short
dYdX BNB-USD	+0.0025%	1h	793.28	−0.100%	$160K	$63K	10x	as long as short
Aster BNBUSDT	+0.0033%	8h	793.70	−0.047%	$6.1M	$19.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.388%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0045%	8h	792.56	−0.190%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0051%	8h	793.99	−0.010%	$69.4M	$50.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.39	−0.338%	$607K	$1.1M	50x	as long as short
Bybit BNBUSDT	+0.0057%	8h	793.23	−0.106%	$138.1M	$77.2M	75x	as long as short
MEXC BNB_USDT	+0.0061%	8h	794.00	−0.009%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDTlong	+0.0062%	8h	794.07	long leg	$493.4M	$818.9M	75x
Phoenix BNB	+0.0088%	1h	792.08	−0.251%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.49	−0.073%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.32	−0.095%	$383K	$468K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.10	−0.122%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.03	−0.131%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.30	−0.097%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.20	−0.110%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.16	−0.115%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.13	−0.119%	$77.4M	$28.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	792.62	−0.183%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	792.78	−0.163%	$160K	$434K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.00	−0.135%	$112K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.45	−0.079%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.74	−0.042%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.40	−0.085%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.96	−0.140%	$8.1M	$8.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.13	−0.118%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.96	−0.140%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.09	−0.124%	$381K	$110K	10x	as long as short
Hyperliquid BNBshort	+0.0108%	1h	794.02	−0.007%	$52.6M	$19.8M	10x
RISEx BNB/USDC	+0.0131%	1h	793.31	−0.097%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0139%	1h	794.97	+0.113%	$646K	$10K	10x	as long as short
Kalshi KXBNBPERP	+0.0159%	8h	793.50	−0.072%	$106K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.09	+0.002%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	793.70	−0.047%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	793.81	−0.034%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	792.81	−0.159%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0354%	1h	793.86	−0.027%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0440%	1h	793.18	−0.113%	$68K	$38K	12x	as long as short