Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0484%/8h= −53.0% APRpaid last 24h −0.082%

Price spread now: Bybit against Hibachi−0.081%7-day average — · you buy dearer than you sell

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

Long on Hibachi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.562%−$56 on $10k

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

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

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.081% cheaper against Hibachi than usual: you would sell low and buy high (−$8 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	Hibachi BNB/USDT-P	788.74	0.0584	pay 0.0073% / 1h	38m 21s	$67K	$38K	12x
Short	Bybit BNBUSDT	788.10	0.0100	get 0.0100% / 8h	5h 38m	$138.6M	$77.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hibachi. 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 HibachibpFee BybitbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$101.64
Price spread: −0.081% → 0.000%: −$8.13
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$129.77
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Bybit: live order book, 6 min ago. 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 Hibachi no order-book sample	—	—	—	—	—
Sell Bybit live order book, 6 min ago	0.63 bp	7.4 bp −$7	11.4 bp −$114	33.7 bp −$3,369	118.8 bp −$59.4K

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 −0.0167% / S +0.0335%	1h	788.14	−0.076%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.89	+0.019%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.21	+0.059%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.17	−0.072%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.073%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0042%	8h	788.82	+0.010%	$6.3M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.09	+0.044%	$618K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0058%	8h	788.34	−0.051%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0074%	8h	789.10	+0.045%	$80.3M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	788.85	+0.014%	$493.3M	$805.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0078%	8h	788.85	+0.014%	$69.1M	$51.0M	50x	as long as short
Variational Omni BNB	+0.0086%	8h	787.60	−0.145%	$4.1M	$4.6M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.10	−0.081%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.80	+0.008%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.20	−0.069%	$265K	$497K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.05	−0.088%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.78	+0.005%	$51.7M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.71	−0.004%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	788.10	−0.081%	$138.6M	$77.4M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	788.10	−0.081%	$53.4M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.70	−0.005%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.15	−0.075%	$35.2M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.96	−0.099%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.99	−0.095%	$76.8M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.64	−0.013%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.57	−0.021%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.87	+0.016%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.02	−0.091%	$135K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.42	−0.040%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.90	+0.020%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.42	−0.040%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.22	+0.061%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.88	−0.109%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.20	−0.068%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	789.13	+0.049%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0132%	8h	789.50	+0.097%	$2.9M	$28.2M	10x	as long as short
SoDEX BNB-USD	+0.0145%	1h	788.40	−0.043%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0186%	8h	788.90	+0.020%	$95K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	788.79	+0.006%	$18.1M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0238%	1h	788.16	−0.074%	$159K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.68	−0.008%	$1.5M	$152K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	789.02	+0.035%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.90	−0.107%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.82	+0.010%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.087%	$638K	$13K	10x	as long as short
Hibachi BNB/USDT-Plong	+0.0584%	1h	788.74	long leg	$67K	$38K	12x