Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.070%

Price spread now: BingX against Hyperliquid−0.006%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days+0.035%+$4 · spread now −0.006%, 7d avg −0.033%

Together, before fees−0.029%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.027% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.033%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	791.96	0.0100	pay 0.0013% / 1h	22m 36s	$51.9M	$17.6M	10x
Short	BingX BNB-USDC	791.91	0.0059	get 0.0059% / 8h	5h 22m	—	$13.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$8.61
Price spread: −0.006% → −0.033%: $2.69
Slippage, 4 orders: −$5.77
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$30.68
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; BingX: live order book, 6 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, 11 min ago	0.25 bp	6.0 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	0.32 bp	6.5 bp −$7	9.8 bp −$98	22.5 bp −$2,250	70.1 bp −$35.0K

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 −0.0167% / S +0.0335%	1h	790.80	−0.146%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.31	−0.082%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.31	−0.082%	$855K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	790.88	−0.136%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.658%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.79	−0.274%	$617K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0051%	8h	792.09	+0.016%	$6.3M	$18.7M	200x	as long as short
BingX BNB-USDCshort	+0.0059%	8h	791.91	−0.006%	—	$13.4M	—
Phemex BNBUSDT	+0.0066%	8h	791.48	−0.061%	$69.3M	$51.2M	50x	as long as short
MEXC BNB_USDT	+0.0076%	8h	792.40	+0.056%	$80.5M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0077%	8h	792.41	+0.057%	$495.2M	$796.5M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	790.71	−0.158%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.55	−0.052%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.91	−0.133%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.75	−0.153%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	791.96	long leg	$51.9M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	791.85	−0.014%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.77	−0.024%	$139.3M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.80	−0.020%	$53.7M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.00	+0.005%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.70	−0.033%	$35.4M	$57.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.96	0.000%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.63	−0.042%	$77.1M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.23	−0.092%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.29	−0.337%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.37	−0.201%	$4.1M	$75.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.28	−0.212%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.67	−0.163%	$136K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.08	−0.112%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.48	−0.061%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.75	−0.152%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.55	+0.075%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.64	−0.040%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.00	−0.121%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.63	−0.168%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0119%	1h	791.00	−0.121%	$389K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0139%	8h	789.94	−0.255%	$2.9M	$28.2M	10x	as long as short
Kalshi KXBNBPERP	+0.0189%	8h	791.30	−0.083%	$88K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0197%	8h	791.40	−0.071%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0228%	1h	791.76	−0.025%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	792.47	+0.064%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.36	−0.076%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.59	−0.172%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	792.20	+0.031%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0403%	1h	790.49	−0.185%	$640K	$6K	10x	as long as short
Hibachi BNB/USDT-P	+0.0600%	1h	790.85	−0.140%	$68K	$38K	12x	as long as short