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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 23:00 UTC+0.0413%/8h= +45.2% APRnext payment +$0.52 per $10,000 · paid last 24h +0.119%
Price spread now: Reya against Hotstuff−0.137%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 Reya
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 · Reya: Active · farm boardneeds both histories
Funding pays, the price is against you. Reya is 0.137% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.137% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 27 hours of funding at the current rate (+$12 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff BNB-PERP806.63−0.0080get 0.0010% / 1h36m 45s$4K$1K25x
ShortReya BNBRUSDPERP805.520.0333get 0.0042% / 1h36m 45s$6K$3K40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Reya 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
$86.73
Price spread: −0.137% → 0.000%
−$13.73
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Reya: 3 bp × 2 orders
−$6
Net
$62
Costs to cover
0.110%
Break-even
2.0 days
Slippage unknown: Hotstuff: no order-book sample; Reya: 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
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample—————
Sell Reya no order-book sample—————
Hotstuff and Reya: 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 −0.0201% / S +0.0372%1h805.95−0.085%$48K—200xas long as short
Hotstuff BNB-PERPlong−0.0080%1h806.63long leg$4K$1K25x
GRVT BNB_USDT_Perp0.0000%8h806.76+0.016%$3.0M$29.1M10xas long as short
Kalshi KXBNBPERP0.0000%8h806.80+0.021%$106K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h806.55−0.010%$872K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h805.90−0.090%$9.8M—150xas long as short
Variational Omni BNB+0.0044%8h806.56−0.009%$4.1M$5.3M—as long as short
BingX BNB-USDC+0.0059%8h806.08−0.068%—$13.3M—as long as short
Bybit BNBUSDT+0.0083%8h805.70−0.115%$139.6M$81.1M75xas long as short
Lighter BNB+0.0096%1h806.15−0.060%$2.8M$4.2M20xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0096%1h805.54−0.135%$608K$881K50xas long as short
Nado BNB-PERP+0.0100%1h805.85−0.097%$1.5M$2.7M20xas long as short
Pacifica BNB+0.0100%1h806.35−0.035%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h805.80−0.103%$55.1M$116.0M50xas long as short
Arcus BNB-USD+0.0100%1h806.60−0.004%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h805.85−0.097%$36.1M$57.6M75xas long as short
KuCoin BNBUSDTM+0.0100%8h805.75−0.109%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h805.42−0.150%$78.7M$25.0M75xas long as short
edgeX BNBUSDC+0.0100%4h807.06+0.054%$4.2M$76.6M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h806.65+0.002%$162K$440K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h805.73−0.112%$116K$869K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h805.93−0.087%$389K$592K50xas long as short
Derive BNB-PERP+0.0100%1h806.13−0.063%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h806.51−0.014%$13K$1.7M50xas long as short
HTX BNB-USDT+0.0100%8h806.07−0.070%$8.2M$7.7M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h806.77+0.018%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h805.57−0.132%$1.9M$6.0M50xas long as short
Hibachi BNB/USDT-P+0.0104%1h806.80+0.021%$71K$48K12xas long as short
Aevo BNB-PERP+0.0104%1h806.07−0.069%$387K$40K10xas long as short
Aster BNBUSDT+0.0107%8h806.69+0.007%$6.4M$18.8M200xas long as short
MEXC BNB_USDT+0.0122%8h807.00+0.046%$84.7M$13.4M200xas long as short
Binance BNBUSDT+0.0123%8h806.27−0.045%$520.5M$804.1M75xas long as short
Phemex BNBUSDT+0.0135%8h806.53−0.012%$70.4M$51.8M50xas long as short
Phoenix BNB+0.0155%1h807.20+0.071%$173K$35K10xas long as short
SoDEX BNB-USD+0.0180%1h806.10−0.066%$397K$1.0M10xas long as short
dYdX BNB-USD+0.0201%1h806.57−0.007%$163K$63K10xas long as short
Kraken Futures PF_BNBUSD+0.0205%1h805.91−0.089%$2.5M$930K50xas long as short
Hyperliquid BNB+0.0238%1h806.81+0.022%$52.2M$21.9M10xas long as short
BloFin BNB-USDT+0.0243%8h806.57−0.007%$18.8M$2.6M75xas long as short
Bulk BNB-USD+0.0295%1h807.66+0.128%$652K$14K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0300%1h806.39−0.030%$1.6M$165K25xas long as short
Injective BNB/USDC PERP+0.0311%1h805.09−0.191%$19K$789K30xas long as short
RISEx BNB/USDC+0.0318%1h806.35−0.034%$1.1M$1.4M20xas long as short
Reya BNBRUSDPERPshort+0.0333%1h805.52−0.137%$6K$3K40x
01 Exchange BNBUSD+0.0352%1h806.85+0.027%$29K$1K10xas long as short
Backpack BNB_USDC_PERP+0.0691%1h807.09+0.057%$3.0M$5.5M40xas long as short