Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Orderly against Hotstuff−0.002%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 Orderly

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	803.07	−0.0080	get 0.0010% / 1h	53m 09s	$4K	$1K	25x
Short	Orderly PERP_BNB_USDC	803.05	0.0100	get 0.0100% / 8h	2h 53m	$388K	$595K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.002%Rate

Funding earned: $37.8
Price spread: −0.002% → 0.000%: −$0.25
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $26.55
Costs to cover: 0.110%
Break-even: 2.1 days

Slippage unknown: Hotstuff: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Hotstuff 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 −0.0195% / S +0.0371%	1h	803.20	+0.016%	$48K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	803.07	long leg	$4K	$1K	25x
GRVT BNB_USDT_Perp	0.0000%	8h	804.43	+0.169%	$3.0M	$30.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.80	+0.091%	$110K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.20	+0.016%	$868K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.27	+0.025%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.07	+0.001%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0068%	8h	803.35	+0.034%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0070%	8h	803.14	+0.009%	—	$34.5M	—	as long as short
Aster BNBUSDT	+0.0087%	8h	803.76	+0.086%	$6.3M	$18.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.115%	$608K	$899K	50x	as long as short
Lighter BNB	+0.0096%	1h	803.28	+0.026%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.76	−0.039%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.10	+0.004%	$1.2M	$923K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	802.65	−0.052%	$139.0M	$83.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.90	−0.021%	$55.0M	$115.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.50	+0.054%	$52K	$191K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.80	−0.034%	$35.9M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.98	−0.011%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.72	−0.044%	$79.0M	$24.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.47	+0.174%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.95	+0.110%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.20	+0.016%	$118K	$869K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	803.05	−0.002%	$388K	$595K	50x
Derive BNB-PERP	+0.0100%	1h	803.26	+0.023%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.97	+0.112%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	803.10	+0.004%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.57	+0.062%	$1.6M	$162K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.03	−0.005%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.76	+0.086%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	804.10	+0.128%	$84.3M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0102%	8h	803.70	+0.078%	$518.4M	$807.4M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	802.62	−0.056%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.04	−0.003%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0121%	8h	803.66	+0.073%	$70.1M	$51.9M	50x	as long as short
Phoenix BNB	+0.0125%	1h	805.11	+0.254%	$173K	$35K	10x	as long as short
Bulk BNB-USD	+0.0140%	1h	805.09	+0.251%	$650K	$11K	10x	as long as short
dYdX BNB-USD	+0.0172%	1h	803.01	−0.007%	$170K	$55K	10x	as long as short
Hyperliquid BNB	+0.0189%	1h	803.72	+0.081%	$51.6M	$21.3M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	803.67	+0.074%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0222%	8h	803.74	+0.083%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.12	+0.006%	$71K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	804.35	+0.159%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	803.06	−0.002%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.230%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0666%	1h	804.22	+0.143%	$3.0M	$5.3M	40x	as long as short