BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0300%/8h= −32.8% APRnext payment −$0.37 per $10,000 · paid last 24h +0.042%

Price spread now: Hyperliquid against Deribit+0.011%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now +0.011%, 7d avg 0.000%

Together, before fees−0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.087% in total (about -4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 per $10,000. 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	Deribit BNB_USDC-PERPETUAL	789.50	0.0400	pay 0.0050% / 1h	10m 49s	$1.5M	$160K	25x
Short	Hyperliquid BNB	789.58	0.0100	get 0.0013% / 1h	10m 49s	$51.7M	$19.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$63
Price spread: +0.011% → 0.000%: $1.08
Slippage, 4 orders: −$12.64
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$90.56
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; Hyperliquid: live order book, 13 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 Deribit live order book, 3 min ago	2.54 bp	7.6 bp −$8	13.2 bp −$132	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 13 min ago	0.13 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit

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	788.59	−0.115%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	788.97	−0.067%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.09	−0.051%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.59	+0.012%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.59	−0.114%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	789.66	+0.021%	$6.2M	$20.1M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.975%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0045%	8h	788.70	−0.101%	$35.2M	$57.4M	75x	as long as short
Variational Omni BNB	+0.0050%	8h	788.61	−0.112%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDC	+0.0050%	8h	788.89	−0.077%	—	$13.4M	—	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	788.82	−0.086%	$619K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	789.60	+0.013%	$80.2M	$13.1M	200x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.61	+0.014%	$69.0M	$50.7M	50x	as long as short
Binance BNBUSDT	+0.0063%	8h	789.47	−0.003%	$494.4M	$824.9M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0072%	8h	788.72	−0.099%	$2.9M	$28.6M	10x	as long as short
dYdX BNB-USD	+0.0081%	1h	788.84	−0.083%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	788.56	−0.119%	$169K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.25	−0.031%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.00	−0.063%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.35	−0.145%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	789.58	+0.011%	$51.7M	$19.5M	10x
Pacifica BNB	+0.0100%	1h	788.82	−0.085%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.75	−0.095%	$139.0M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.70	−0.101%	$53.4M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	−0.063%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.59	−0.115%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.56	−0.119%	$77.7M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.20	−0.164%	$4.1M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.71	−0.100%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.57	−0.117%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.08	−0.053%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.33	−0.021%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.10	−0.050%	$388K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.64	−0.108%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.35	−0.018%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.41	−0.138%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.02	−0.060%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	789.11	−0.049%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	789.10	−0.050%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.572%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.34	−0.020%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.54	−0.121%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0391%	1h	789.71	+0.027%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0400%	1h	789.50	long leg	$1.5M	$160K	25x
Hibachi BNB/USDT-P	+0.0544%	1h	788.77	−0.092%	$68K	$39K	12x	as long as short