Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.048%

Price spread now: Binance against Hyperliquid−0.038%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days+0.126%+$13 · spread now −0.038%, 7d avg +0.063%

Together, before fees+0.053%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.101% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	807.98	0.0203	pay 0.0025% / 1h	41m 43s	$52.0M	$22.1M	10x
Short	Binance BNBUSDT	807.67	0.0121	get 0.0121% / 8h	1h 41m	$521.7M	$803.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.038%Rate

Funding earned: −$17.08
Price spread: −0.038% → +0.063%: −$10.12
Slippage, 4 orders: −$2.26
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$48.46
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Binance: live order book, 2 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 Hyperliquid live order book, 12 min ago	0.19 bp	4.7 bp −$5	8.0 bp −$80	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.06 bp	5.4 bp −$5	6.7 bp −$67	16.0 bp −$1,596	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 −0.0195% / S +0.0371%	1h	806.77	−0.149%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.43	−0.192%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.21	−0.219%	$3.0M	$29.2M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	807.50	−0.059%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.76	−0.275%	$871K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.87	−0.137%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0048%	8h	804.97	−0.372%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0059%	8h	807.21	−0.095%	—	$34.5M	—	as long as short
Hibachi BNB/USDT-P	+0.0080%	1h	805.86	−0.262%	$71K	$48K	12x	as long as short
Bybit BNBUSDT	+0.0083%	8h	806.56	−0.176%	$139.7M	$81.2M	75x	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	807.20	−0.097%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	−0.302%	$608K	$881K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.45	−0.189%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	806.62	−0.168%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	806.80	−0.146%	$55.1M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.80	−0.146%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	806.90	−0.134%	$36.1M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	806.75	−0.152%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	806.73	−0.155%	$78.9M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.31	−0.207%	$4.2M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.49	−0.184%	$162K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.65	−0.165%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.85	−0.140%	$390K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	807.14	−0.104%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.36	−0.201%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.81	−0.145%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.01	−0.121%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	806.61	−0.170%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	807.11	−0.108%	$388K	$40K	10x	as long as short
Aster BNBUSDT	+0.0107%	8h	807.70	−0.035%	$6.4M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0120%	8h	808.00	+0.002%	$84.8M	$13.4M	200x	as long as short
Binance BNBUSDTshort	+0.0121%	8h	807.67	−0.038%	$521.7M	$803.8M	75x
Phemex BNBUSDT	+0.0131%	8h	807.43	−0.068%	$70.5M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	806.22	−0.218%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0186%	1h	807.00	−0.121%	$397K	$1.0M	10x	as long as short
Hyperliquid BNBlong	+0.0203%	1h	807.98	long leg	$52.0M	$22.1M	10x
Kraken Futures PF_BNBUSD	+0.0205%	1h	806.81	−0.145%	$2.5M	$929K	50x	as long as short
dYdX BNB-USD	+0.0207%	1h	806.57	−0.174%	$163K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0241%	8h	806.53	−0.179%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	−0.301%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	807.40	−0.072%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.358%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	806.89	−0.134%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	806.42	−0.193%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0352%	1h	807.43	−0.068%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0715%	1h	807.73	−0.031%	$3.0M	$5.5M	40x	as long as short