Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.045%

Price spread now: Hotstuff against Bybit+0.202%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.202% dearer against Bybit than usual: you sell high and buy low (spread +0.202% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	785.50	0.0100	pay 0.0100% / 8h	2h 43m	$138.0M	$74.1M	75x
Short	Hotstuff BNB-PERP	787.09	−0.0080	pay 0.0010% / 1h	43m 03s	$4K	$42	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now +0.202%Rate

Funding earned: −$37.8
Price spread: +0.202% → 0.000%: $20.24
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$33.56
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.64 bp	7.1 bp −$7	9.3 bp −$93	25.0 bp −$2,499	173.2 bp −$86.6K
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 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	785.49	−0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	787.09	+0.202%	$4K	$42	25x
StandX BNB-USD	0.0000%	1h	787.38	+0.239%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.61	+0.014%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	786.10	+0.076%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.494%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	785.71	+0.027%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	786.50	+0.127%	$79.7M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	786.04	+0.069%	$489.6M	$804.6M	75x	as long as short
dYdX BNB-USD	+0.0054%	1h	786.33	+0.106%	$159K	$61K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0054%	8h	786.12	+0.079%	$68.8M	$50.6M	50x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	785.57	+0.009%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	+0.250%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.74	+0.030%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.66	+0.020%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.85	+0.045%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.04	+0.069%	$51.5M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.37	+0.111%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	785.50	long leg	$138.0M	$74.1M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	785.50	0.000%	$53.3M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.40	+0.115%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.45	−0.006%	$36.2M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.27	−0.029%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.48	−0.003%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.16	+0.084%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.41	+0.116%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	+0.248%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.06	+0.199%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.75	+0.032%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.75	+0.031%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.42	+0.117%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	+0.025%	$386K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.72	+0.028%	$8.0M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.50	+0.128%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.35	−0.019%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.62	+0.015%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.15	+0.210%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	786.50	+0.127%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	786.34	+0.107%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.01	+0.065%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	787.62	+0.270%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.340%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	786.70	+0.153%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.61	+0.014%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.46	+0.122%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.90	+0.178%	$67K	$39K	12x	as long as short