Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.047%

Price spread now: Hyperliquid against MEXC−0.056%7-day average −0.173% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$170.169% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days−0.151%−$15 · spread now −0.056%, 7d avg −0.173%

Together, before fees−0.077%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.117% dearer against MEXC than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.173%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	803.90	0.0103	pay 0.0103% / 8h	2h 40m	$84.5M	$13.5M	200x
Short	Hyperliquid BNB	803.45	0.0152	get 0.0019% / 1h	40m 01s	$51.6M	$21.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now −0.056%Rate

Funding earned: $10.35
Price spread: −0.056% → −0.173%: $11.71
Slippage, 4 orders: −$3.94
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $5.12
Costs to cover: 0.169%
Break-even: 3.5 days

Slippage from MEXC: live order book, 4 min ago; Hyperliquid: 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 MEXC live order book, 4 min ago	0.62 bp	3.4 bp −$3	7.5 bp −$75	25.2 bp −$2,525	43.4 bp −$21.7K
Sell Hyperliquid live order book, 3 min ago	0.31 bp	5.0 bp −$5	doesn't fit	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 −0.0195% / S +0.0371%	1h	802.80	−0.137%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.26	−0.080%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.09	−0.101%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.40	−0.062%	$122K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.66	−0.030%	$868K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.83	−0.133%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.99	−0.114%	$2.5M	$910K	50x	as long as short
Variational Omni BNB	+0.0055%	8h	802.35	−0.192%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0062%	8h	803.08	−0.102%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	802.27	−0.203%	$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	803.45	−0.056%	$6.4M	$18.8M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.011%	$608K	$880K	50x	as long as short
Lighter BNB	+0.0096%	1h	803.03	−0.108%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.52	−0.172%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.13	−0.096%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.70	−0.149%	$55.1M	$115.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	−0.112%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.70	−0.149%	$35.9M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.68	−0.152%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.47	−0.178%	$79.0M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.30	−0.075%	$4.2M	$77.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.22	−0.085%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.68	−0.152%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.87	−0.128%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.99	−0.113%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.47	−0.053%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.33	−0.070%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.91	−0.123%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.56	−0.042%	$78K	$19K	50x	as long as short
MEXC BNB_USDTlong	+0.0103%	8h	803.90	long leg	$84.5M	$13.5M	200x
Binance BNBUSDT	+0.0104%	8h	803.42	−0.060%	$518.1M	$803.3M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	802.36	−0.191%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.08	−0.101%	$386K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0119%	1h	802.90	−0.124%	$395K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0119%	8h	803.49	−0.051%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.50	−0.050%	$173K	$35K	10x	as long as short
Hyperliquid BNBshort	+0.0152%	1h	803.45	−0.056%	$51.6M	$21.3M	10x
Bulk BNB-USD	+0.0194%	1h	803.61	−0.036%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	803.16	−0.091%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0224%	8h	803.58	−0.040%	$18.8M	$3.0M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.38	−0.065%	$71K	$49K	12x	as long as short
dYdX BNB-USD	+0.0251%	1h	803.00	−0.112%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	803.48	−0.052%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	802.61	−0.160%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.127%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0682%	1h	803.83	−0.009%	$3.0M	$5.3M	40x	as long as short