Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.024%

Price spread now: Hotstuff against GRVT−0.107%7-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 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 airdropGRVT: 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 0.107% cheaper against GRVT than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BNB_USDT_Perp	789.44	0.0080	pay 0.0080% / 8h	6h 08m	$2.9M	$28.5M	10x
Short	Hotstuff BNB-PERP	788.60	−0.0080	pay 0.0010% / 1h	8m 44s	$4K	$239	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against GRVT. 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 GRVTbpFee HotstuffbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$33.6
Price spread: −0.107% → 0.000%: −$10.66
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$58.26
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 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 GRVT live order book, 5 min ago	0.06 bp	4.6 bp −$5	6.0 bp −$60	1251.9 bp −$125.2K	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 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	787.78	−0.211%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0133%	1h	787.87	−0.200%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	788.60	−0.107%	$4K	$239	25x
StandX BNB-USD	0.0000%	1h	789.44	0.000%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	787.81	−0.206%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	788.49	−0.120%	$6.2M	$20.1M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.982%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0045%	8h	787.85	−0.202%	$35.1M	$57.7M	75x	as long as short
BingX BNB-USDT	+0.0049%	8h	788.06	−0.175%	—	$34.9M	—	as long as short
Variational Omni BNB	+0.0050%	8h	788.61	−0.105%	$4.1M	$4.9M	—	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	−0.079%	$619K	$1.8M	50x	as long as short
MEXC BNB_USDT	+0.0064%	8h	788.70	−0.094%	$80.2M	$13.1M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	788.58	−0.109%	$493.8M	$823.0M	75x	as long as short
Phemex BNBUSDT	+0.0065%	8h	788.39	−0.133%	$69.0M	$50.5M	50x	as long as short
GRVT BNB_USDT_Perplong	+0.0080%	8h	789.44	long leg	$2.9M	$28.5M	10x
Phoenix BNB	+0.0088%	1h	788.56	−0.112%	$169K	$36K	10x	as long as short
dYdX BNB-USD	+0.0091%	1h	788.17	−0.162%	$159K	$63K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.10	−0.170%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.92	−0.193%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.85	−0.202%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.45	−0.126%	$51.7M	$18.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.12	−0.167%	$1.2M	$920K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.75	−0.214%	$138.8M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.80	−0.208%	$53.4M	$113.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	−0.145%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.70	−0.221%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.72	−0.218%	$77.6M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.23	−0.027%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.87	−0.072%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.78	−0.210%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.02	−0.180%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.75	−0.088%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.00	−0.183%	$387K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.95	−0.189%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.68	−0.096%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.56	−0.239%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.99	−0.184%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	788.22	−0.155%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0165%	8h	788.30	−0.145%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.579%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	788.44	−0.127%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.41	−0.131%	$1.5M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.77	−0.211%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0387%	1h	788.46	−0.124%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	788.80	−0.082%	$68K	$39K	12x	as long as short