Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.053%

Price spread now: Bulk against HTX+0.149%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on HTX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.220%+$22 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now +0.149%, 7d avg +0.109%

Together, before fees+0.225%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bulk is 0.040% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	798.09	0.0100	pay 0.0100% / 8h	7h 19m	$8.2M	$8.3M	75x
Short	Bulk BNB-USD	799.28	0.0127	get 0.0016% / 1h	19m 49s	$649K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against HTX. 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 HTXbpFee BulkbpOrdersPrice spread, now +0.149%Rate

Funding earned: $5.75
Price spread: +0.149% → +0.109%: $3.95
Slippage, 4 orders: −$3.95
Fee HTX: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$13.25
Costs to cover: 0.229%
Break-even: 23.1 days

Slippage from HTX: live order book, 4 min ago; Bulk: live order book, 54 min ago.

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 HTX live order book, 4 min ago	0.73 bp	8.0 bp −$8	13.8 bp −$138	41.2 bp −$4,120	doesn't fit
Sell Bulk live order book, 54 min ago	0.06 bp	3.6 bp −$4	3.8 bp −$38	6.6 bp −$660	16.5 bp −$8,258

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 −0.0159% / S +0.0335%	1h	798.39	+0.038%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.48	+0.048%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.54	+0.056%	$4K	$239	25x	as long as short
BingX BNB-USDT	−0.0007%	8h	798.44	+0.044%	—	$35.0M	—	as long as short
Gate BNB_USDT	−0.0002%	8h	798.10	+0.001%	$35.9M	$56.8M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.63	+0.318%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.19	+0.138%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0004%	8h	797.72	−0.047%	$4.1M	$5.0M	—	as long as short
Phemex BNBUSDT	+0.0006%	8h	799.12	+0.129%	$69.8M	$50.2M	50x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.43	+0.043%	$9.7M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BNBUSDT	+0.0009%	8h	798.09	0.000%	$138.6M	$76.3M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.877%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	+0.123%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0054%	8h	798.84	+0.094%	$6.2M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0076%	8h	798.85	+0.095%	$495.9M	$811.6M	75x	as long as short
MEXC BNB_USDT	+0.0077%	8h	799.40	+0.164%	$83.1M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.47	+0.047%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.13	+0.130%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	797.85	−0.030%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.37	+0.035%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.20	+0.014%	$54.2M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.60	+0.064%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.47	+0.047%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.06	−0.004%	$78.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.04	+0.244%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.98	+0.237%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.15	+0.007%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.54	+0.056%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.64	+0.068%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.62	+0.066%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.70	+0.076%	$393K	$997K	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	798.09	long leg	$8.2M	$8.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	798.75	+0.083%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.02	−0.009%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.57	+0.060%	$384K	$110K	10x	as long as short
Bulk BNB-USDshort	+0.0127%	1h	799.28	+0.149%	$649K	$10K	10x
RISEx BNB/USDC	+0.0155%	1h	798.26	+0.022%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	799.10	+0.126%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0197%	8h	798.81	+0.090%	$18.0M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.82	+0.091%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0200%	1h	798.40	+0.039%	$161K	$63K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	799.00	+0.114%	$68K	$38K	12x	as long as short
Hyperliquid BNB	+0.0299%	1h	798.99	+0.113%	$53.1M	$20.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	798.98	+0.111%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.86	−0.029%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0411%	1h	799.63	+0.193%	$2.7M	$5.7M	40x	as long as short