Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.061%

Price spread now: OKX against Hyperliquid−0.081%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.081%, 7d avg −0.046%

Together, before fees−0.004%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	788.64	0.0100	pay 0.0013% / 1h	9m 47s	$51.7M	$18.6M	10x
Short	OKX BNB-USDT-SWAP	788.00	0.0100	get 0.0100% / 8h	6h 09m	$53.4M	$113.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → −0.046%: −$3.5
Slippage, 4 orders: −$4.58
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.08
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	0.51 bp	5.9 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.63 bp	5.6 bp −$6	8.2 bp −$82	20.2 bp −$2,015	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	788.26	−0.049%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	788.53	−0.014%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.17	+0.067%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.55	+0.115%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.35	−0.037%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	789.04	+0.051%	$6.2M	$20.1M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.086%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0047%	8h	788.05	−0.075%	$35.1M	$57.6M	75x	as long as short
BingX BNB-USDC	+0.0049%	8h	788.40	−0.030%	—	$13.4M	—	as long as short
Variational Omni BNB	+0.0050%	8h	788.61	−0.004%	$4.1M	$4.9M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	788.82	+0.023%	$619K	$1.9M	50x	as long as short
Phemex BNBUSDT	+0.0061%	8h	789.04	+0.051%	$69.0M	$50.7M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	789.00	+0.046%	$80.2M	$13.1M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	788.76	+0.015%	$493.9M	$824.9M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0072%	8h	788.72	+0.010%	$2.9M	$28.6M	10x	as long as short
dYdX BNB-USD	+0.0083%	1h	788.84	+0.026%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	788.56	−0.010%	$169K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.14	−0.064%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.50	−0.018%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.40	−0.030%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	788.64	long leg	$51.7M	$18.6M	10x
Pacifica BNB	+0.0100%	1h	788.85	+0.027%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	−0.068%	$138.9M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	788.00	−0.081%	$53.4M	$113.8M	50x
Arcus BNB-USD	+0.0100%	1h	788.90	+0.033%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.95	−0.087%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.82	−0.104%	$77.6M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.20	−0.056%	$4.1M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.71	+0.009%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.50	−0.018%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.64	+0.001%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.90	+0.032%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.60	−0.005%	$388K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.64	0.000%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.27	+0.080%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.80	−0.106%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.59	−0.006%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	788.95	+0.040%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	789.10	+0.058%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.681%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.20	+0.071%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.30	−0.044%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	788.97	+0.042%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	788.99	+0.045%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	788.77	+0.016%	$68K	$39K	12x	as long as short