Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.075%

Price spread now: Orderly against Hibachi−0.229%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.432%−$43 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 −$7 a day on $10k at the current rate, and Orderly is 0.229% cheaper against Hibachi than usual: you would sell low and buy high (−$23 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	798.94	0.0344	pay 0.0043% / 1h	7m 19s	$68K	$39K	12x
Short	Orderly PERP_BNB_USDC	797.11	0.0100	get 0.0100% / 8h	7h 07m	$385K	$459K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.229%Rate

Funding earned: −$51.24
Price spread: −0.229% → 0.000%: −$22.89
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$89.13
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Orderly: 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 Hibachi no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Hibachi and Orderly: 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 −0.0159% / S +0.0335%	1h	797.07	−0.234%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	797.00	−0.243%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	797.49	−0.181%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0004%	8h	796.80	−0.268%	$35.8M	$57.1M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.15	+0.026%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.87	−0.009%	$863K	$3.0M	30x	as long as short
Variational Omni BNB	+0.0008%	8h	797.92	−0.128%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.12	−0.227%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0020%	8h	797.76	−0.148%	$69.7M	$50.2M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.770%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDC	+0.0035%	8h	797.34	−0.200%	—	$13.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	−0.168%	$610K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0048%	8h	797.59	−0.169%	$6.1M	$19.5M	200x	as long as short
Bybit BNBUSDT	+0.0069%	8h	797.00	−0.243%	$138.4M	$76.2M	75x	as long as short
Binance BNBUSDT	+0.0071%	8h	797.72	−0.153%	$496.5M	$810.7M	75x	as long as short
MEXC BNB_USDT	+0.0072%	8h	798.00	−0.117%	$83.0M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	797.38	−0.195%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.02	+0.010%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.10	−0.230%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.45	−0.186%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	797.00	−0.243%	$54.2M	$110.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	797.30	−0.205%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	796.88	−0.258%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	796.83	−0.264%	$78.1M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.04	+0.013%	$4.2M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.32	+0.048%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	797.15	−0.224%	$113K	$885K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	797.11	−0.229%	$385K	$459K	50x
Derive BNB-PERP	+0.0100%	1h	797.30	−0.206%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	797.64	−0.162%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	797.30	−0.205%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.35	−0.198%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	797.68	−0.158%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	796.80	−0.268%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	797.23	−0.213%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	−0.031%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.08	−0.233%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0160%	8h	797.90	−0.130%	$88K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0189%	1h	797.59	−0.169%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0191%	8h	797.85	−0.136%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	797.25	−0.211%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	797.61	−0.167%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0285%	1h	797.85	−0.136%	$53.0M	$20.1M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	796.70	−0.280%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-Plong	+0.0344%	1h	798.94	long leg	$68K	$39K	12x
Backpack BNB_USDC_PERP	+0.0431%	1h	798.53	−0.051%	$2.7M	$5.7M	40x	as long as short