Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.058%

Price spread now: Bybit against Hyperliquid−0.067%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.067%, 7d avg −0.054%

Together, before fees−0.083%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	785.73	0.0100	pay 0.0013% / 1h	32m 42s	$51.6M	$17.5M	10x
Short	Bybit BNBUSDT	785.20	0.0100	get 0.0100% / 8h	2h 32m	$137.9M	$74.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → −0.054%: −$1.3
Slippage, 4 orders: −$4.59
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$25.88
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Bybit: 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 Hyperliquid live order book, 11 min ago	0.06 bp	4.6 bp −$5	7.7 bp −$77	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.64 bp	7.8 bp −$8	10.6 bp −$106	23.8 bp −$2,377	105.5 bp −$52.8K

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 −0.0192% / S +0.0356%	1h	784.71	−0.130%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.37	−0.046%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.27	+0.069%	$848K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.80	−0.118%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	785.81	+0.010%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.464%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0041%	8h	785.48	−0.032%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0051%	8h	785.40	−0.042%	$68.7M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	786.00	+0.034%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	785.77	+0.005%	$489.1M	$808.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.73	−0.127%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.23	+0.064%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.38	−0.044%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.85	−0.112%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.65	−0.137%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	785.73	long leg	$51.6M	$17.5M	10x
Pacifica BNB	+0.0100%	1h	785.06	−0.085%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDTshort	+0.0100%	8h	785.20	−0.067%	$137.9M	$74.5M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	785.10	−0.080%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.30	−0.055%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.00	−0.093%	$36.3M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.76	−0.123%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.75	−0.125%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.61	−0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	+0.038%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.21	+0.188%	$4.1M	$75.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.79	+0.135%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.64	−0.139%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.94	−0.101%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.32	−0.052%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.90	−0.106%	$386K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.97	−0.097%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.06	−0.085%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.74	−0.126%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.91	−0.104%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.73	0.000%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0116%	1h	784.98	−0.095%	$159K	$61K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	785.10	−0.080%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	785.44	−0.037%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	786.66	+0.118%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	+0.064%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.66	−0.009%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	785.26	−0.059%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.51	−0.155%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.30	−0.055%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	785.56	−0.022%	$67K	$39K	12x	as long as short