Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0319%/8h= +34.9% APRpaid last 24h +0.103%

Price spread now: Hibachi against GRVT−0.084%65s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.494%+$49 on $10k

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

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

Funding pays, the price is against you. Hibachi is 0.084% cheaper against GRVT than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 21 hours of funding at the current rate (+$10 a day). The two prices were read 65 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	GRVT BNB_USDT_Perp	787.48	0.0217	pay 0.0217% / 8h	2h 14m	$2.9M	$29.5M	10x
Short	Hibachi BNB/USDT-P	786.82	0.0536	get 0.0067% / 1h	14m 33s	$67K	$39K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpFee HibachibpOrdersPrice spread, now −0.084%Rate

Funding earned: $66.99
Price spread: −0.084% → 0.000%: −$8.36
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $40.63
Costs to cover: 0.180%
Break-even: 2.8 days

Slippage unknown: GRVT: live order book, 5 min ago; Hibachi: 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 GRVT live order book, 5 min ago	0.06 bp	5.1 bp −$5	5.9 bp −$59	19.9 bp −$1,989	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: 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	786.35	−0.144%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.17	−0.039%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.41	−0.009%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.47	−0.128%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.236%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0039%	8h	787.18	−0.038%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0045%	8h	786.97	−0.065%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0058%	8h	787.23	−0.032%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	787.60	+0.015%	$80.5M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	787.59	+0.014%	$490.6M	$812.7M	75x	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	786.57	−0.115%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.207%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.91	−0.073%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.55	−0.118%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.60	−0.112%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.53	+0.006%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.10	−0.048%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.90	−0.074%	$138.2M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.074%	$53.5M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.00	−0.061%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.90	−0.074%	$36.7M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.45	−0.131%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.67	−0.103%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.07	−0.052%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.32	−0.147%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.93	−0.070%	$4.1M	$75.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.09	−0.050%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.80	−0.086%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.70	−0.099%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.22	−0.033%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.44	−0.132%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.29	−0.024%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.59	−0.113%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.67	−0.103%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.99	−0.062%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0130%	1h	786.70	−0.099%	$387K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0138%	8h	786.90	−0.074%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0158%	1h	786.37	−0.141%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0183%	8h	787.25	−0.029%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perplong	+0.0217%	8h	787.48	long leg	$2.9M	$29.5M	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.02	−0.059%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	787.74	+0.033%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.71	−0.098%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.265%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	787.22	−0.034%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-Pshort	+0.0536%	1h	786.82	−0.084%	$67K	$39K	12x