Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h +0.011%

Price spread now: Hyperliquid against BloFin+0.003%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now +0.003%, 7d avg −0.038%

Together, before fees−0.105%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.041% dearer against BloFin than usual: you sell high and buy low (spread +0.003% now, against its 7-day average of −0.038%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	784.84	0.0171	pay 0.0171% / 8h	2h 39m	$17.7M	$2.2M	75x
Short	Hyperliquid BNB	784.86	0.0100	get 0.0013% / 1h	39m 10s	$51.5M	$17.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$14.99
Price spread: +0.003% → −0.038%: $4.1
Slippage, 4 orders: −$1.93
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$33.83
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Hyperliquid: live order book, 4 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 BloFin live order book, 5 min ago	0.13 bp	6.1 bp −$6	7.4 bp −$74	15.2 bp −$1,523	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.06 bp	6.1 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 −0.0192% / S +0.0356%	1h	784.20	−0.082%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.89	+0.006%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.26	+0.054%	$847K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.31	−0.068%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	784.88	+0.006%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.580%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	784.48	−0.046%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	785.10	+0.033%	$79.6M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	784.75	−0.011%	$488.6M	$808.3M	75x	as long as short
Phemex BNBUSDT	+0.0052%	8h	784.63	−0.027%	$68.7M	$50.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.18	−0.085%	$2.5M	$1.2M	50x	as long as short
dYdX BNB-USD	+0.0072%	1h	784.38	−0.058%	$159K	$61K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.52	−0.041%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.43	−0.053%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.38	−0.059%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.85	−0.126%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	784.86	+0.003%	$51.5M	$17.5M	10x
Pacifica BNB	+0.0100%	1h	784.71	−0.017%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.10	−0.094%	$137.7M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.10	−0.094%	$53.2M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.50	−0.043%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.45	−0.050%	$36.2M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.09	−0.096%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.96	−0.112%	$75.9M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.64	−0.025%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	−0.052%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.49	+0.210%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.35	+0.065%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.86	−0.125%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.57	−0.034%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.95	+0.014%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.50	−0.043%	$386K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.03	−0.104%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.65	−0.024%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.05	−0.101%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.46	−0.048%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.21	+0.047%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0134%	8h	785.00	+0.020%	$140K	$2.7M	4.8x	as long as short
BloFin BNB-USDTlong	+0.0171%	8h	784.84	long leg	$17.7M	$2.2M	75x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.79	−0.007%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	785.56	+0.092%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.177%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	784.52	−0.041%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	783.92	−0.118%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.26	−0.073%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	785.20	+0.046%	$67K	$39K	12x	as long as short