Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.061%

Price spread now: Bitget against Hyperliquid−0.100%7-day average −0.068% · 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−$28as in the Price arb table

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

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.100%, 7d avg −0.068%

Together, before fees+0.002%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.032% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	793.79	0.0100	pay 0.0013% / 1h	52m 00s	$52.6M	$19.8M	10x
Short	Bitget BNBUSDT	793.00	0.0100	get 0.0100% / 8h	6h 52m	$77.4M	$28.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.100%Rate

Funding earned: $0
Price spread: −0.100% → −0.068%: −$3.18
Slippage, 4 orders: −$3.82
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$28
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Bitget: 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, 11 min ago	0.13 bp	4.9 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.76 bp	7.7 bp −$8	12.1 bp −$121	17.7 bp −$1,773	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 −0.0161% / S +0.0334%	1h	792.77	−0.128%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.05	−0.094%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.70	−0.011%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0033%	8h	793.10	−0.087%	$35.5M	$55.1M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	792.37	−0.179%	$3.0M	$28.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	793.02	−0.097%	$857K	$3.0M	30x	as long as short
Variational Omni BNB	+0.0006%	8h	791.53	−0.285%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	792.71	−0.136%	$9.7M	—	150x	as long as short
dYdX BNB-USD	+0.0028%	1h	793.28	−0.064%	$160K	$63K	10x	as long as short
Aster BNBUSDT	+0.0032%	8h	793.57	−0.028%	$6.1M	$19.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.424%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0040%	8h	793.21	−0.073%	—	$35.0M	—	as long as short
Phemex BNBUSDT	+0.0053%	8h	793.38	−0.052%	$69.3M	$50.4M	50x	as long as short
Bybit BNBUSDT	+0.0054%	8h	793.10	−0.087%	$138.0M	$77.2M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.39	−0.302%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	794.00	+0.026%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	793.81	+0.002%	$493.3M	$819.0M	75x	as long as short
Phoenix BNB	+0.0088%	1h	792.08	−0.215%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.06	−0.091%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	792.78	−0.127%	$383K	$468K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.10	−0.087%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	793.79	long leg	$52.6M	$19.8M	10x
Pacifica BNB	+0.0100%	1h	793.46	−0.042%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.10	−0.087%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.20	−0.074%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	792.92	−0.110%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDTshort	+0.0100%	8h	793.00	−0.100%	$77.4M	$28.5M	75x
edgeX BNBUSDC	+0.0100%	4h	794.42	+0.079%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.47	+0.086%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.21	−0.073%	$112K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	792.91	−0.111%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.74	−0.007%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.10	−0.087%	$390K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.27	−0.191%	$8.1M	$8.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.71	−0.010%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.85	−0.119%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	792.84	−0.120%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.41	−0.048%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0139%	1h	794.97	+0.149%	$646K	$10K	10x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	792.20	−0.200%	$94K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0182%	8h	793.14	−0.082%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	793.78	−0.001%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	793.35	−0.055%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	792.81	−0.123%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0411%	1h	793.50	−0.037%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0440%	1h	792.53	−0.158%	$68K	$38K	12x	as long as short