Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.057%

Price spread now: Polymarket Perps against Hyperliquid−0.048%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Hyperliquid Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.048%, 7d avg −0.044%

Together, before fees+0.079%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	792.19	0.0100	pay 0.0013% / 1h	20m 45s	$52.0M	$17.6M	10x
Short	Polymarket Perps BNB-USD	791.81	0.0100	get 0.0013% / 1h	20m 45s	$134K	$951K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.044%: −$0.38
Slippage, 4 orders: −$7.25
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$24.64
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Polymarket Perps: live order book, 42 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	0.13 bp	4.9 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 42 min ago	2.03 bp	6.0 bp −$6	6.3 bp −$63	14.1 bp −$1,413	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 −0.0167% / S +0.0335%	1h	791.47	−0.092%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	792.26	+0.009%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.62	−0.072%	$855K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.50	−0.087%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.628%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	−0.020%	$615K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0052%	8h	792.20	+0.001%	$6.3M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0056%	8h	792.09	−0.013%	$69.4M	$51.0M	50x	as long as short
BingX BNB-USDC	+0.0059%	8h	791.77	−0.053%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0076%	8h	792.60	+0.052%	$80.5M	$12.5M	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	+0.0077%	8h	792.14	−0.007%	$495.0M	$797.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.32	−0.110%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.74	−0.056%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.57	−0.078%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.95	−0.030%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	792.19	long leg	$52.0M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	792.03	−0.021%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.53	−0.083%	$139.3M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.40	−0.100%	$53.8M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.20	+0.001%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.50	−0.087%	$35.4M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.38	−0.102%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.36	−0.105%	$77.0M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.85	−0.043%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.30	−0.112%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.37	−0.230%	$4.1M	$75.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.08	−0.140%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USDshort	+0.0100%	1h	791.81	−0.048%	$134K	$951K	10x
Derive BNB-PERP	+0.0100%	1h	791.77	−0.053%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.09	−0.013%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.68	−0.065%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.76	+0.072%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.30	−0.113%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.53	−0.083%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.63	−0.197%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0108%	1h	791.70	−0.062%	$389K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0144%	8h	791.54	−0.082%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0189%	8h	792.20	+0.001%	$83K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0197%	8h	792.08	−0.014%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0226%	1h	791.76	−0.054%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	792.41	+0.028%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.99	−0.025%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.55	−0.081%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	792.33	+0.018%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0403%	1h	790.49	−0.214%	$640K	$6K	10x	as long as short
Hibachi BNB/USDT-P	+0.0600%	1h	791.26	−0.117%	$68K	$38K	12x	as long as short