Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.058%

Price spread now: edgeX against Hyperliquid−0.022%46s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.236% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days+0.096%+$10 · spread now −0.022%, 7d avg +0.029%

Together, before fees+0.093%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.050% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.029%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	803.47	0.0153	pay 0.0019% / 1h	40m 39s	$51.6M	$21.3M	10x
Short	edgeX BNBUSDC	803.30	0.0100	get 0.0050% / 4h	2h 40m	$4.2M	$77.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$11.16
Price spread: −0.022% → +0.029%: −$5.01
Slippage, 4 orders: −$5.64
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$39.81
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; edgeX: live order book, 3 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, 3 min ago	0.31 bp	5.9 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	1.87 bp	6.4 bp −$6	6.4 bp −$64	9.9 bp −$990	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 −0.0195% / S +0.0371%	1h	802.87	−0.075%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.57	+0.012%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.09	−0.047%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.20	−0.034%	$122K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.056%	$869K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.88	−0.074%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.05	−0.052%	$2.5M	$910K	50x	as long as short
Variational Omni BNB	+0.0059%	8h	802.25	−0.151%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0068%	8h	802.86	−0.076%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	802.40	−0.133%	$138.7M	$82.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0087%	8h	803.49	+0.002%	$6.4M	$18.8M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.065%	$608K	$880K	50x	as long as short
Lighter BNB	+0.0096%	1h	803.10	−0.046%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.56	−0.113%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.13	−0.042%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.70	−0.096%	$55.1M	$115.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	−0.058%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.55	−0.115%	$35.9M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.69	−0.097%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.48	−0.123%	$79.0M	$24.5M	75x	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	803.30	−0.022%	$4.2M	$77.0M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	803.22	−0.031%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.74	−0.091%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.95	−0.065%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.04	−0.054%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.49	+0.002%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.42	−0.006%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.91	−0.069%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.56	+0.012%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0103%	8h	803.70	+0.029%	$84.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0104%	8h	803.41	−0.007%	$518.1M	$803.6M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	802.57	−0.112%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.17	−0.038%	$386K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0114%	1h	802.90	−0.071%	$395K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0119%	8h	803.49	+0.002%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.50	+0.004%	$173K	$35K	10x	as long as short
Hyperliquid BNBlong	+0.0153%	1h	803.47	long leg	$51.6M	$21.3M	10x
Bulk BNB-USD	+0.0194%	1h	803.61	+0.017%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	803.27	−0.024%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0224%	8h	803.58	+0.014%	$18.8M	$3.0M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.38	−0.011%	$71K	$49K	12x	as long as short
dYdX BNB-USD	+0.0251%	1h	803.00	−0.058%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	803.55	+0.010%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	802.63	−0.104%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.180%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0687%	1h	803.82	+0.044%	$3.0M	$5.3M	40x	as long as short