BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0121%/8h= −13.2% APRnext payment −$0.15 per $10,000 · paid last 24h −0.043%

Price spread now: Deribit against Hyperliquid−0.064%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now −0.064%, 7d avg +0.001%

Together, before fees+0.098%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.065% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.001%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.099%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	799.25	0.0221	pay 0.0028% / 1h	12m 12s	$52.4M	$21.2M	10x
Short	Deribit BNB_USDC-PERPETUAL	798.74	0.0100	get 0.0013% / 1h	12m 12s	$1.6M	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$25.34
Price spread: −0.064% → +0.001%: −$6.53
Slippage, 4 orders: −$10.73
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$58.61
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Deribit: 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	0.06 bp	4.8 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	1.38 bp	10.8 bp −$11	16.5 bp −$165	doesn't fit	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 −0.0201% / S +0.0372%	1h	798.44	−0.101%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.73	−0.065%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.15	−0.138%	$2.5M	$974K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.92	−0.041%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.15	−0.013%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.46	−0.099%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0010%	8h	798.73	−0.065%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0033%	8h	798.57	−0.085%	—	$34.7M	—	as long as short
Bybit BNBUSDT	+0.0039%	8h	797.95	−0.163%	$138.6M	$76.8M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.77	−0.060%	$604K	$983K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0084%	8h	798.87	−0.048%	$6.2M	$19.1M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.54	−0.089%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.24	−0.127%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.66	−0.074%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.10	−0.144%	$54.3M	$112.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.70	−0.069%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.25	−0.125%	$35.8M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.20	−0.131%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.00	−0.156%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.52	+0.034%	$4.2M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.51	+0.033%	$161K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.38	−0.109%	$116K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.28	−0.121%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.43	−0.103%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.97	−0.036%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	−0.094%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0100%	1h	798.74	−0.064%	$1.6M	$165K	25x
HTX BNB-USDT	+0.0100%	8h	798.64	−0.076%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.07	−0.023%	$78K	$19K	50x	as long as short
Phemex BNBUSDT	+0.0101%	8h	798.80	−0.056%	$69.9M	$50.7M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.90	−0.169%	$1.7M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.44	−0.102%	$384K	$40K	10x	as long as short
Binance BNBUSDT	+0.0104%	8h	798.82	−0.054%	$497.7M	$818.3M	75x	as long as short
MEXC BNB_USDT	+0.0105%	8h	799.20	−0.006%	$83.0M	$13.6M	200x	as long as short
Phoenix BNB	+0.0127%	1h	799.20	−0.006%	$172K	$36K	10x	as long as short
Kalshi KXBNBPERP	+0.0141%	8h	799.30	+0.006%	$90K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0168%	1h	798.81	−0.055%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0214%	1h	799.38	+0.016%	$649K	$17K	10x	as long as short
Hyperliquid BNBlong	+0.0221%	1h	799.25	long leg	$52.4M	$21.2M	10x
BloFin BNB-USDT	+0.0225%	8h	798.80	−0.056%	$18.1M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.52	−0.092%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	798.99	−0.033%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.731%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.07	−0.148%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0343%	1h	798.70	−0.069%	$161K	$63K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0345%	1h	799.02	−0.029%	$2.7M	$5.7M	40x	as long as short