Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.079%

Price spread now: Paradex against Hibachi+0.080%7-day average — · you sell dearer than you buy

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

Long on Hibachi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Paradex is 0.080% dearer against Hibachi than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BNB/USDT-P	798.02	0.0176	pay 0.0022% / 1h	23m 02s	$70K	$43K	12x
Short	Paradex BNB-USD-PERP	798.65	0.0100	get 0.0100% / 8h	23m 02s	$78K	$19K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$15.96
Price spread: +0.080% → 0.000%: $8
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$20.95
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Hibachi and Paradex: 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	798.26	+0.030%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.42	+0.051%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.27	+0.032%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.10	+0.136%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.72	+0.088%	$863K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.30	+0.036%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0013%	8h	798.06	+0.005%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0038%	8h	798.22	+0.026%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0043%	8h	798.10	+0.011%	$138.5M	$76.9M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	+0.235%	$606K	$986K	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	+0.0089%	8h	798.89	+0.110%	$6.3M	$19.0M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.63	+0.077%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.91	−0.014%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.23	+0.027%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.10	+0.011%	$54.3M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.30	+0.036%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.15	+0.017%	$35.7M	$58.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.24	+0.028%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.02	+0.001%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.56	+0.069%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.22	+0.151%	$161K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.12	+0.013%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.27	+0.032%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.47	+0.057%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.79	+0.097%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	+0.061%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.69	+0.085%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.73	−0.036%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERPshort	+0.0100%	8h	798.65	+0.080%	$78K	$19K	50x
Extended BNB-USD	+0.0104%	1h	797.91	−0.014%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.36	+0.043%	$383K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0110%	8h	798.71	+0.087%	$69.8M	$50.5M	50x	as long as short
Binance BNBUSDT	+0.0111%	8h	798.88	+0.108%	$498.8M	$818.0M	75x	as long as short
MEXC BNB_USDT	+0.0111%	8h	799.30	+0.161%	$83.0M	$13.5M	200x	as long as short
Kalshi KXBNBPERP	+0.0126%	8h	798.80	+0.098%	$89K	$2.9M	4.8x	as long as short
Phoenix BNB	+0.0127%	1h	798.51	+0.062%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-Plong	+0.0176%	1h	798.02	long leg	$70K	$43K	12x
Hyperliquid BNB	+0.0206%	1h	799.30	+0.161%	$52.5M	$21.2M	10x	as long as short
BloFin BNB-USDT	+0.0231%	8h	798.87	+0.107%	$18.2M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0239%	1h	800.03	+0.253%	$650K	$19K	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.22	+0.025%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	798.74	+0.091%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.886%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	797.80	−0.027%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0380%	1h	797.85	−0.021%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0395%	1h	799.15	+0.142%	$2.7M	$5.7M	40x	as long as short