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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0325%/8h= +35.6% APRnext payment +$0.41 per $10,000 · paid last 24h +0.102%
Price spread now: Bulk against Hotstuff−0.201%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Bulk
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 airdropHotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. Bulk is 0.201% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.201% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 2.1 days of funding at the current rate (+$10 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff BNB-PERP791.41−0.0080get 0.0010% / 1h31m 07s$4K$4225x
ShortBulk BNB-USD789.820.0245get 0.0031% / 1h31m 07s$640K$9K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Hotstuff. 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

Funding earned
$68.26
Price spread: −0.201% → 0.000%
−$20.09
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$36.18
Costs to cover
0.120%
Break-even
3.3 days
Slippage unknown: Hotstuff: no order-book sample; Bulk: live order book, 28 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample—————
Sell Bulk live order book, 28 min ago0.06 bp3.6 bp −$43.6 bp −$366.0 bp −$60115.9 bp −$7,951
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 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0186% / S +0.0350%1h791.55+0.018%$46K—200xas long as short
Hotstuff BNB-PERPlong−0.0080%1h791.41long leg$4K$4225x
StandX BNB-USD0.0000%1h791.14−0.034%$853K$3.2M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h791.54+0.017%$9.5M—150xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+1.729%$19K$789K30xas long as short
Aster BNBUSDT+0.0043%8h792.23+0.104%$6.1M$18.7M200xas long as short
BingX BNB-USDC+0.0053%8h791.11−0.038%—$13.4M—as long as short
Phemex BNBUSDT+0.0060%8h792.07+0.083%$69.3M$49.9M50xas long as short
Coinbase International BNB-PERP-INTX+0.0064%1h789.45−0.248%$582K$1.9M50xas long as short
MEXC BNB_USDT+0.0066%8h792.50+0.138%$80.4M$12.3M200xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance BNBUSDT+0.0066%8h792.35+0.118%$494.6M$788.8M75xas long as short
Lighter BNB+0.0096%1h791.63+0.028%$2.8M$3.8M20xas long as short
Orderly PERP_BNB_USDC+0.0100%8h791.57+0.020%$266K$492K50xas long as short
Nado BNB-PERP+0.0100%1h791.45+0.005%$1.5M$2.6M20xas long as short
Hyperliquid BNB+0.0100%1h792.18+0.097%$52.0M$17.6M10xas long as short
Pacifica BNB+0.0100%1h791.83+0.053%$1.2M$931K20xas long as short
Bybit BNBUSDT+0.0100%8h791.50+0.011%$139.2M$74.6M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h791.50+0.011%$53.5M$111.5M50xas long as short
Arcus BNB-USD+0.0100%1h791.80+0.049%$52K$130K10xas long as short
Gate BNB_USDT+0.0100%8h791.40−0.001%$35.4M$56.8M75xas long as short
KuCoin BNBUSDTM+0.0100%8h791.410.000%$27.7M$10.3M75xas long as short
Bitget BNBUSDT+0.0100%8h791.18−0.029%$76.5M$30.1M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h791.93+0.066%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h791.31−0.012%$4.1M$4.6M—as long as short
edgeX BNBUSDC+0.0100%4h789.56−0.234%$4.1M$73.6M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h790.95−0.058%$159K$440K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h791.51+0.013%$134K$950K10xas long as short
Derive BNB-PERP+0.0100%1h791.59+0.023%$31K$12K10xas long as short
SunX BNB-USDT+0.0100%8h792.22+0.103%$13K$1.5M50xas long as short
SoDEX BNB-USD+0.0100%1h791.60+0.024%$389K$1.0M10xas long as short
HTX BNB-USDT+0.0100%8h791.11−0.038%$8.1M$9.4M75xas long as short
Paradex BNB-USD-PERP+0.0101%8h792.04+0.079%$77K$17K50xas long as short
Extended BNB-USD+0.0104%1h791.15−0.033%$1.8M$5.9M50xas long as short
Aevo BNB-PERP+0.0104%1h791.59+0.022%$380K$110K10xas long as short
Phoenix BNB+0.0117%1h789.61−0.227%$170K$35K10xas long as short
dYdX BNB-USD+0.0133%1h791.21−0.026%$160K$64K10xas long as short
GRVT BNB_USDT_Perp+0.0139%8h789.87−0.195%$2.9M$28.3M10xas long as short
Kalshi KXBNBPERP+0.0179%8h791.90+0.062%$125K$2.7M4.8xas long as short
BloFin BNB-USDT+0.0186%8h792.10+0.087%$18.2M$2.2M75xas long as short
01 Exchange BNBUSD+0.0232%1h792.23+0.104%$28K$4K10xas long as short
Bulk BNB-USDshort+0.0245%1h789.82−0.201%$640K$9K10x
Kraken Futures PF_BNBUSD+0.0263%1h791.38−0.004%$2.5M$1.2M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0300%1h792.01+0.076%$1.5M$143K25xas long as short
Reya BNBRUSDPERP+0.0326%1h791.30−0.014%$6K$3K40xas long as short
Hibachi BNB/USDT-P+0.0448%1h790.70−0.090%$68K$38K12xas long as short
RISEx BNB/USDC+0.0461%1h791.92+0.064%$1.1M$973K20xas long as short