BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0217%/8h= −23.8% APRnext payment −$0.27 per $10,000 · paid last 24h −0.059%

Price spread now: Pacifica against Hyperliquid−0.071%54s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as 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−$260.258% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.122%+$12 · spread now −0.071%, 7d avg +0.024%

Together, before fees+0.125%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Pacifica is 0.095% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.024%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	800.98	0.0317	pay 0.0040% / 1h	2m 52s	$51.8M	$21.6M	10x
Short	Pacifica BNB	800.41	0.0100	get 0.0013% / 1h	2m 52s	$1.2M	$926K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.071%Rate

Funding earned: −$45.65
Price spread: −0.071% → +0.024%: −$9.49
Slippage, 4 orders: −$8.82
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$80.96
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Pacifica: 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	0.31 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 1 min ago	2.00 bp	7.0 bp −$7	9.3 bp −$93	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	799.73	−0.156%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.40	−0.072%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.22	−0.094%	$3.0M	$28.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.91	−0.009%	$866K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.76	−0.152%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0028%	8h	798.74	−0.279%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0052%	8h	800.05	−0.116%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	799.80	−0.147%	$139.0M	$78.7M	75x	as long as short
Lighter BNB	+0.0096%	1h	800.57	−0.051%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	799.17	−0.226%	$605K	$994K	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	+0.0097%	8h	800.58	−0.050%	$6.3M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.63	−0.169%	$1.4M	$2.7M	20x	as long as short
Pacifica BNBshort	+0.0100%	1h	800.41	−0.071%	$1.2M	$926K	20x
OKX BNB-USDT-SWAP	+0.0100%	8h	799.90	−0.135%	$54.7M	$113.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.60	−0.047%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.80	−0.147%	$35.7M	$59.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.84	−0.142%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.05	−0.116%	$80.8M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.20	−0.097%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.21	−0.096%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.80	−0.147%	$121K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.77	−0.151%	$386K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.95	−0.128%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.81	−0.021%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.10	−0.110%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.91	−0.133%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.79	−0.023%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.75	−0.153%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.05	−0.116%	$384K	$40K	10x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	800.50	−0.060%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0116%	8h	800.43	−0.069%	$70.0M	$51.1M	50x	as long as short
MEXC BNB_USDT	+0.0117%	8h	801.20	+0.027%	$83.2M	$13.9M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	800.84	−0.018%	$500.9M	$818.4M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.03	−0.119%	$172K	$35K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.24	−0.092%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.92	−0.133%	$2.6M	$965K	50x	as long as short
Hibachi BNB/USDT-P	+0.0232%	1h	799.87	−0.138%	$71K	$48K	12x	as long as short
BloFin BNB-USDT	+0.0238%	8h	800.91	−0.009%	$18.3M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0298%	1h	800.20	−0.097%	$650K	$21K	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.513%	$19K	$789K	30x	as long as short
Hyperliquid BNBlong	+0.0317%	1h	800.98	long leg	$51.8M	$21.6M	10x
RISEx BNB/USDC	+0.0318%	1h	800.38	−0.075%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	800.83	−0.019%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.45	−0.191%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0361%	1h	799.99	−0.124%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0559%	1h	800.77	−0.026%	$2.7M	$5.7M	40x	as long as short