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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 04:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.053%
Price spread now: Hotstuff against Derive+0.038%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on DeriveShort 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 0.038% dearer against Derive than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 17 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDerive BNB-PERP788.030.0100pay 0.0013% / 1h4m 45s$31K$12K10x
ShortHotstuff BNB-PERP788.33−0.0080pay 0.0010% / 1h4m 45s$4K$4225x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hotstuff against Derive. 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

Funding earned
−$37.8
Price spread: +0.038% → 0.000%
$3.81
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Net
−$44.99
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Derive: no order-book sample; 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
LegHalf-spread$10k$100k$1M$5M
Buy Derive no order-book sample—————
Sell Hotstuff no order-book sample—————
Derive and 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0189% / S +0.0354%1h787.87−0.020%$46K—200xas long as short
Hotstuff BNB-PERPshort−0.0080%1h788.33+0.038%$4K$4225x
StandX BNB-USD0.0000%1h788.68+0.083%$851K$3.2M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h787.89−0.018%$9.5M—150xas long as short
Aster BNBUSDT+0.0033%8h788.44+0.052%$6.1M$18.7M200xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.165%$19K$789K30xas long as short
BingX BNB-USDT+0.0046%8h788.06+0.004%—$34.4M—as long as short
MEXC BNB_USDT+0.0057%8h788.80+0.098%$80.0M$12.4M200xas long as short
Phemex BNBUSDT+0.0057%8h788.52+0.062%$69.0M$50.2M50xas long as short
Binance BNBUSDT+0.0057%8h788.58+0.070%$492.2M$790.6M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0064%1h789.45+0.180%$582K$1.9M50xas long as short
Lighter BNB+0.0096%1h788.14+0.014%$2.7M$3.9M20xas long as short
Orderly PERP_BNB_USDC+0.0100%8h787.99−0.005%$265K$492K50xas long as short
Nado BNB-PERP+0.0100%1h787.75−0.035%$1.5M$2.5M20xas long as short
Hyperliquid BNB+0.0100%1h788.52+0.062%$51.7M$17.5M10xas long as short
Pacifica BNB+0.0100%1h788.15+0.015%$1.2M$931K20xas long as short
Bybit BNBUSDT+0.0100%8h787.72−0.039%$138.6M$74.0M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h787.90−0.016%$53.3M$111.1M50xas long as short
Arcus BNB-USD+0.0100%1h788.20+0.022%$52K$130K10xas long as short
Gate BNB_USDT+0.0100%8h787.95−0.010%$35.5M$57.6M75xas long as short
KuCoin BNBUSDTM+0.0100%8h787.82−0.027%$28.0M$10.4M75xas long as short
Bitget BNBUSDT+0.0100%8h787.62−0.052%$76.3M$30.2M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h788.45+0.053%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h787.71−0.040%$4.1M$4.7M—as long as short
edgeX BNBUSDC+0.0100%4h788.58+0.070%$4.1M$73.2M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h788.72+0.088%$159K$441K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h787.73−0.038%$133K$950K10xas long as short
Derive BNB-PERPlong+0.0100%1h788.03long leg$31K$12K10x
SunX BNB-USDT+0.0100%8h788.36+0.042%$12K$1.5M50xas long as short
SoDEX BNB-USD+0.0100%1h788.00−0.004%$387K$1.0M10xas long as short
HTX BNB-USDT+0.0100%8h787.74−0.037%$8.1M$9.5M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h788.37+0.043%$77K$17K50xas long as short
Extended BNB-USD+0.0104%1h787.49−0.069%$1.8M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h788.02−0.001%$379K$110K10xas long as short
Phoenix BNB+0.0117%1h788.48+0.057%$169K$35K10xas long as short
dYdX BNB-USD+0.0119%1h787.86−0.022%$159K$64K10xas long as short
GRVT BNB_USDT_Perp+0.0154%8h788.72+0.088%$2.9M$28.6M10xas long as short
Kalshi KXBNBPERP+0.0177%8h788.50+0.060%$132K$2.7M4.8xas long as short
BloFin BNB-USDT+0.0177%8h788.55+0.066%$18.1M$2.2M75xas long as short
Bulk BNB-USD+0.0216%1h789.05+0.130%$639K$9K10xas long as short
01 Exchange BNBUSD+0.0232%1h788.44+0.052%$28K$4K10xas long as short
Kraken Futures PF_BNBUSD+0.0264%1h787.85−0.022%$2.5M$1.2M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0300%1h788.37+0.043%$1.5M$143K25xas long as short
Reya BNBRUSDPERP+0.0325%1h787.60−0.054%$6K$3K40xas long as short
Hibachi BNB/USDT-P+0.0368%1h788.20+0.022%$67K$38K12xas long as short
RISEx BNB/USDC+0.0461%1h788.30+0.034%$1.1M$967K20xas long as short