Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against edgeX−0.123%58s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.123% cheaper against edgeX than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	801.06	0.0100	pay 0.0050% / 4h	32m 22s	$4.2M	$76.7M	30x
Short	Hotstuff BNB-PERP	800.08	−0.0080	pay 0.0010% / 1h	32m 22s	$4K	$1K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against edgeX. 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 edgeXbpFee HotstuffbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$37.8
Price spread: −0.123% → 0.000%: −$12.26
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$64.06
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 2 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 edgeX live order book, 2 min ago	2.50 bp	7.0 bp −$7	7.0 bp −$70	10.7 bp −$1,071	doesn't fit
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 −0.0201% / S +0.0372%	1h	799.88	−0.147%	$48K	—	200x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	800.08	−0.123%	$4K	$1K	25x
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.70	−0.170%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	−0.009%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.76	−0.038%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.89	−0.147%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0021%	8h	799.96	−0.138%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0045%	8h	799.97	−0.136%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0049%	8h	799.50	−0.195%	$138.7M	$77.8M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.043%	$607K	$994K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0095%	8h	800.56	−0.063%	$6.3M	$19.0M	200x	as long as short
Lighter BNB	+0.0096%	1h	800.12	−0.118%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.66	−0.175%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.09	−0.121%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.60	−0.183%	$54.5M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.40	−0.083%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.65	−0.176%	$35.8M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.81	−0.156%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.46	−0.200%	$79.3M	$27.4M	75x	as long as short
edgeX BNBUSDClong	+0.0100%	4h	801.06	long leg	$4.2M	$76.7M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	801.03	−0.004%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.87	−0.149%	$117K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.79	−0.159%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.05	−0.126%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.44	−0.077%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.10	−0.120%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.40	−0.083%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.43	−0.078%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.52	−0.193%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.93	−0.141%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0112%	8h	800.53	−0.066%	$69.9M	$50.7M	50x	as long as short
Binance BNBUSDT	+0.0116%	8h	800.41	−0.081%	$499.8M	$816.3M	75x	as long as short
MEXC BNB_USDT	+0.0116%	8h	800.80	−0.033%	$83.1M	$13.5M	200x	as long as short
Kalshi KXBNBPERP	+0.0116%	8h	800.40	−0.083%	$110K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	800.57	−0.061%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0184%	1h	800.06	−0.126%	$70K	$44K	12x	as long as short
Hyperliquid BNB	+0.0187%	1h	800.51	−0.069%	$51.9M	$21.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.38	−0.085%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0237%	8h	800.43	−0.079%	$18.2M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	800.21	−0.107%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0305%	1h	801.82	+0.095%	$651K	$20K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.503%	$19K	$789K	30x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	800.68	−0.048%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.42	−0.205%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0395%	1h	800.10	−0.120%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0412%	1h	800.61	−0.056%	$2.7M	$5.7M	40x	as long as short