Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.055%

Price spread now: Derive against Hyperliquid−0.075%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.075% cheaper against Hyperliquid than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	791.75	0.0100	pay 0.0013% / 1h	32m 11s	$52.0M	$17.6M	10x
Short	Derive BNB-PERP	791.16	0.0100	get 0.0013% / 1h	32m 11s	$31K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → 0.000%: −$7.51
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$22.51
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; Derive: no order-book sample. Net counts fees only.

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	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0185% / S +0.0350%	1h	791.01	−0.094%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.41	−0.043%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.31	−0.308%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.96	−0.100%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.685%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	791.74	−0.001%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0053%	8h	790.66	−0.138%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	791.74	−0.001%	$69.3M	$49.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.290%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0065%	8h	792.10	+0.044%	$80.4M	$12.3M	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	+0.0066%	8h	791.74	−0.001%	$494.2M	$788.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	791.24	−0.065%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.12	−0.080%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.80	−0.120%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	791.75	long leg	$52.0M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	791.24	−0.064%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.00	−0.095%	$139.1M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.00	−0.095%	$53.5M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.20	−0.069%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.05	−0.088%	$35.4M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.95	−0.101%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	790.80	−0.120%	$76.5M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.54	−0.027%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.01	−0.472%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.56	−0.277%	$4.1M	$73.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.35	−0.303%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.95	−0.101%	$134K	$950K	10x	as long as short
Derive BNB-PERPshort	+0.0100%	1h	791.16	−0.075%	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	791.62	−0.017%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.20	−0.069%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.11	−0.081%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	791.71	−0.005%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.59	−0.146%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.09	−0.084%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.61	−0.270%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0133%	1h	790.55	−0.152%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0139%	8h	789.87	−0.237%	$2.9M	$28.3M	10x	as long as short
Kalshi KXBNBPERP	+0.0180%	8h	791.60	−0.019%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	791.14	−0.077%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	791.65	−0.013%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0245%	1h	789.82	−0.244%	$640K	$9K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	791.10	−0.083%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.56	−0.025%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	790.65	−0.139%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	790.70	−0.133%	$68K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	791.36	−0.049%	$1.1M	$973K	20x	as long as short