BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0053%/8h= +5.9% APRnext payment +$0.07 per $10,000 · paid last 24h −0.002%

Price spread now: Bulk against Hyperliquid−0.129%7-day average +0.053% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Hyperliquid Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.167%+$17 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.129%, 7d avg +0.053%

Together, before fees+0.227%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.182% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.129% now, against its 7-day average of +0.053%). If the spread goes back, that is −$18 on $10k: about 11 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.167% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	802.62	0.0300	pay 0.0038% / 1h	24m 24s	$51.9M	$21.9M	10x
Short	Bulk BNB-USD	801.59	0.0354	get 0.0044% / 1h	24m 24s	$651K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.129%Rate

Funding earned: $11.23
Price spread: −0.129% → +0.053%: −$18.21
Slippage, 4 orders: −$1.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$24.46
Costs to cover: 0.175%
Break-even: 22.2 days

Slippage from Hyperliquid: live order book, 9 min ago; Bulk: live order book, 60 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, 9 min ago	0.50 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 60 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	7.4 bp −$741	16.5 bp −$8,254

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 −0.0201% / S +0.0372%	1h	801.76	−0.107%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.95	−0.208%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.71	−0.113%	$3.0M	$29.6M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.70	−0.115%	$158K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.10	−0.065%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.75	−0.109%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0039%	8h	800.35	−0.283%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0065%	8h	801.85	−0.096%	—	$35.0M	—	as long as short
Bybit BNBUSDT	+0.0077%	8h	801.27	−0.168%	$139.6M	$83.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	802.37	−0.031%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	−0.181%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	802.28	−0.042%	$6.4M	$19.2M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.80	−0.102%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.22	−0.050%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.50	−0.140%	$54.8M	$117.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.10	−0.065%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	801.55	−0.133%	$35.8M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.55	−0.133%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.45	−0.146%	$81.0M	$26.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.89	−0.092%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.93	−0.086%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.66	−0.120%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.67	−0.118%	$387K	$568K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.90	−0.090%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	802.34	−0.036%	$12K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.99	−0.203%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.39	−0.028%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	801.40	−0.153%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.85	−0.096%	$385K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0116%	1h	801.90	−0.090%	$394K	$1.0M	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	802.70	+0.010%	$83.5M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	802.38	−0.031%	$504.4M	$829.3M	75x	as long as short
Phemex BNBUSDT	+0.0122%	8h	802.21	−0.051%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	801.68	−0.117%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0168%	1h	801.65	−0.121%	$71K	$48K	12x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.69	−0.116%	$2.6M	$983K	50x	as long as short
dYdX BNB-USD	+0.0220%	1h	801.98	−0.080%	$162K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0239%	8h	802.28	−0.042%	$18.4M	$2.6M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	802.16	−0.057%	$1.6M	$165K	25x	as long as short
Hyperliquid BNBlong	+0.0300%	1h	802.62	long leg	$51.9M	$21.9M	10x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.308%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.92	−0.087%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	802.37	−0.031%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	801.32	−0.162%	$6K	$3K	40x	as long as short
Bulk BNB-USDshort	+0.0354%	1h	801.59	−0.129%	$651K	$21K	10x
Backpack BNB_USDC_PERP	+0.0642%	1h	802.57	−0.006%	$2.7M	$5.7M	40x	as long as short