Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: Deribit against HTX−0.031%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$340.335% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.031%, 7d avg +0.056%

Together, before fees+0.247%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.086% cheaper against HTX than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.056%). If the spread goes back, that is −$9 on $10k: about 2.9 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.105% in total) that is about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	786.98	0.0100	pay 0.0100% / 8h	52m 37s	$8.0M	$10.3M	75x
Short	Deribit BNB_USDC-PERPETUAL	786.73	0.0200	get 0.0025% / 1h	52m 37s	$1.5M	$145K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $21
Price spread: −0.031% → +0.056%: −$8.65
Slippage, 4 orders: −$14.54
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$21.19
Costs to cover: 0.335%
Break-even: 14.1 days

Slippage from HTX: live order book, 1 min ago; Deribit: live order book, 1 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, 1 min ago	1.36 bp	7.4 bp −$7	10.8 bp −$108	44.5 bp −$4,448	doesn't fit
Sell Deribit live order book, 1 min ago	3.24 bp	6.7 bp −$7	12.7 bp −$127	doesn't fit	doesn't fit

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 −0.0170% / S +0.0337%	1h	786.24	−0.094%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.17	+0.024%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	786.29	−0.088%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	787.08	+0.013%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.27	−0.089%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.301%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0046%	8h	786.45	−0.067%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	787.05	+0.009%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0056%	8h	787.60	+0.079%	$81.1M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0056%	8h	786.95	−0.004%	$489.0M	$821.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0078%	8h	786.89	−0.011%	$68.7M	$51.4M	50x	as long as short
dYdX BNB-USD	+0.0079%	1h	786.61	−0.046%	$159K	$62K	10x	as long as short
Lighter BNB	+0.0096%	1h	786.62	−0.045%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	787.08	+0.013%	$169K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.25	−0.093%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.08	+0.013%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.66	−0.040%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.30	−0.086%	$138.3M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.086%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	−0.035%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.50	−0.061%	$38.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.11	−0.110%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.02	−0.122%	$76.4M	$31.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.81	−0.021%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.70	−0.162%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.65	−0.041%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.75	−0.029%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.35	−0.080%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.29	−0.087%	$264K	$449K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.41	−0.073%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.78	−0.025%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.50	−0.061%	$387K	$976K	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	786.98	long leg	$8.0M	$10.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	786.87	−0.014%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.10	−0.112%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.32	−0.083%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	787.43	+0.057%	$564K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	786.70	−0.035%	$171K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0176%	8h	786.80	−0.023%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	786.73	−0.031%	$1.5M	$145K	25x
GRVT BNB_USDT_Perp	+0.0226%	8h	787.01	+0.004%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0230%	1h	786.88	−0.012%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.97	−0.001%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.04	−0.119%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.73	−0.031%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	786.98	0.000%	$67K	$39K	12x	as long as short