Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.051%

Price spread now: Bybit against Hotstuff−0.132%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bybit

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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Bybit is 0.132% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.132% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3.3 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	800.76	−0.0080	get 0.0010% / 1h	34m 53s	$4K	$1K	25x
Short	Bybit BNBUSDT	799.70	0.0052	get 0.0052% / 8h	34m 53s	$138.8M	$78.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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

Position, each leg$Hold fordaysFee HotstuffbpFee BybitbpOrdersPrice spread, now −0.132%Rate

Funding earned: $27.81
Price spread: −0.132% → 0.000%: −$13.24
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1.43
Costs to cover: 0.160%
Break-even: 7.4 days

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 4 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.63 bp	6.1 bp −$6	8.2 bp −$82	24.3 bp −$2,433	123.7 bp −$61.9K

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.

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	800.20	−0.070%	$48K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	800.76	long leg	$4K	$1K	25x
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.99	−0.096%	$2.6M	$968K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	+0.029%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	801.23	+0.059%	$866K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.10	−0.082%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0021%	8h	799.96	−0.100%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0045%	8h	800.01	−0.094%	—	$34.8M	—	as long as short
Bybit BNBUSDTshort	+0.0052%	8h	799.70	−0.132%	$138.8M	$78.4M	75x
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.005%	$607K	$994K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	800.28	−0.060%	$2.8M	$4.1M	20x	as long as short
Aster BNBUSDT	+0.0096%	8h	800.64	−0.015%	$6.3M	$19.0M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.83	−0.116%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.60	−0.020%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.70	−0.132%	$54.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.80	+0.005%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.80	−0.120%	$35.8M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.84	−0.115%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.78	−0.122%	$79.3M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.06	+0.038%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.03	+0.034%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.26	−0.062%	$117K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.02	−0.092%	$387K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	800.24	−0.065%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.00	+0.031%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.20	−0.070%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.40	−0.045%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.96	+0.025%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.51	−0.156%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.17	−0.074%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0113%	8h	800.56	−0.025%	$70.0M	$50.8M	50x	as long as short
Kalshi KXBNBPERP	+0.0116%	8h	801.10	+0.042%	$110K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.00	+0.030%	$83.2M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	800.54	−0.028%	$500.0M	$816.2M	75x	as long as short
Phoenix BNB	+0.0127%	1h	800.81	+0.006%	$172K	$36K	10x	as long as short
Hyperliquid BNB	+0.0192%	1h	800.72	−0.005%	$51.9M	$21.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.41	−0.044%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0208%	1h	800.60	−0.020%	$70K	$44K	12x	as long as short
BloFin BNB-USDT	+0.0238%	8h	800.74	−0.002%	$18.2M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	800.65	−0.013%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0305%	1h	801.82	+0.132%	$651K	$20K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.541%	$19K	$789K	30x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	801.08	+0.040%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.71	−0.131%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0408%	1h	800.76	0.000%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0415%	1h	800.90	+0.017%	$2.7M	$5.7M	40x	as long as short