Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.001%

Price spread now: HTX against Injective−2.289%7-day average +0.186% · you buy dearer than you sell

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

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 4 days (all we have)+2.697%+$270 · spread now −2.289%, 7d avg +0.186%

Together, before fees+2.854%+$285 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 2.475% cheaper against Injective than usual: you would sell low and buy high (spread −2.289% now, against its 7-day average of +0.186%). If the spread goes back, that is −$247 on $10k: about 4 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0033	pay 0.0004% / 1h	16m 27s	$19K	$789K	30x
Short	HTX BNB-USDT	786.66	0.0100	get 0.0100% / 8h	2h 16m	$8.0M	$10.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now −2.289%Rate

Funding earned: $14
Price spread: −2.289% → +0.186%: −$247.49
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$245.51
Costs to cover: 0.120%
Break-even: 129.8 days

Slippage unknown: Injective: no order-book sample; HTX: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell HTX live order book, 3 min ago	2.31 bp	9.8 bp −$10	13.9 bp −$139	43.8 bp −$4,378	doesn't fit

Injective: 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 −0.0192% / S +0.0356%	1h	786.23	−2.343%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.83	−2.268%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.28	−2.212%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.49	−2.310%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERPlong	+0.0033%	1h	805.09	long leg	$19K	$789K	30x
Aster BNBUSDT	+0.0038%	8h	787.17	−2.226%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0042%	8h	786.70	−2.284%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0056%	8h	787.19	−2.223%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	787.50	−2.185%	$80.5M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	787.20	−2.222%	$490.4M	$812.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.51	−2.308%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−2.390%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.69	−2.286%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.53	−2.305%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.30	−2.334%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.23	−2.218%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.72	−2.282%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	−2.309%	$138.1M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−2.309%	$53.5M	$112.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−2.272%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	−2.303%	$36.7M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.32	−2.331%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.32	−2.331%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.91	−2.258%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−2.394%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.59	−2.298%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.98	−2.249%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.48	−2.312%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.64	−2.292%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.10	−2.234%	$12K	$1.5M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	786.66	−2.289%	$8.0M	$10.1M	75x
Paradex BNB-USD-PERP	+0.0101%	8h	786.96	−2.251%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.24	−2.342%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.60	−2.297%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	−2.330%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0130%	1h	786.70	−2.284%	$387K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0142%	8h	786.80	−2.272%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0160%	1h	786.37	−2.326%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0181%	8h	787.12	−2.232%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	787.48	−2.187%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.92	−2.257%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.33	−2.206%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.36	−2.327%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−2.446%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.89	−2.261%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.85	−2.265%	$67K	$39K	12x	as long as short