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Funding arb · Price arb /

BNB

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0114%/8h= +12.5% APRpaid last 24h +0.058%
Price spread now: Hyperliquid against OKX+0.122%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$230.228% of the position
Long on OKXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.057%+$6 on $10k
Price spread, last 7 days−0.104%−$10 · spread now +0.122%, 7d avg +0.044%
Together, before fees−0.046%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.078% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.044%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX BNB-USDT-SWAP804.800.0100pay 0.0100% / 8h2h 13m$55.2M$116.1M50x
ShortHyperliquid BNB805.780.0214get 0.0027% / 1h13m 34s$52.0M$21.9M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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

Funding earned
$23.96
Price spread: +0.122% → +0.044%
$7.82
Slippage, 4 orders
−$3.83
Fee OKX: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$8.96
Costs to cover
0.228%
Break-even
4.4 days
Slippage from OKX: live order book, 5 min ago; Hyperliquid: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 5 min ago0.62 bp6.3 bp −$68.2 bp −$8221.8 bp −$2,176doesn't fit
Sell Hyperliquid live order book, 10 min ago0.06 bp5.1 bp −$55.2 bp −$52doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h806.00+0.149%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h806.58+0.221%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h807.11+0.287%$3.0M$29.5M10xas long as short
Kalshi KXBNBPERP0.0000%8h806.60+0.224%$114K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h806.10+0.162%$871K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h806.03+0.153%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h806.13+0.166%$2.5M$908K50xas long as short
Variational Omni BNB+0.0050%8h805.71+0.114%$4.1M$5.4M—as long as short
BingX BNB-USDT+0.0054%8h805.68+0.109%—$34.5M—as long as short
Bybit BNBUSDT+0.0079%8h804.72−0.010%$139.7M$82.2M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h806.90+0.261%$610K$883K50xas long as short
Lighter BNB+0.0096%1h805.85+0.130%$2.8M$4.2M20xas long as short
Aster BNBUSDT+0.0098%8h805.78+0.122%$6.4M$18.8M200xas long as short
Nado BNB-PERP+0.0100%1h805.35+0.068%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h805.93+0.140%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAPlong+0.0100%8h804.80long leg$55.2M$116.1M50x
Arcus BNB-USD+0.0100%1h806.10+0.162%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h805.50+0.087%$36.1M$58.9M75xas long as short
KuCoin BNBUSDTM+0.0100%8h805.52+0.089%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h804.56−0.030%$79.0M$24.8M75xas long as short
edgeX BNBUSDC+0.0100%4h806.79+0.248%$4.2M$77.2M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h806.36+0.194%$159K$437K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h805.13+0.041%$116K$873K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h806.05+0.155%$389K$593K50xas long as short
Derive BNB-PERP+0.0100%1h806.26+0.182%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h806.59+0.223%$14K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h806.50+0.212%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h806.22+0.176%$8.2M$7.5M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h806.31+0.187%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h805.25+0.056%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h806.15+0.168%$387K$40K10xas long as short
MEXC BNB_USDT+0.0114%8h806.60+0.224%$84.7M$13.7M200xas long as short
Binance BNBUSDT+0.0115%8h805.70+0.112%$520.8M$805.9M75xas long as short
Phoenix BNB+0.0125%1h806.89+0.260%$173K$35K10xas long as short
Phemex BNBUSDT+0.0128%8h806.69+0.235%$70.4M$51.8M50xas long as short
SoDEX BNB-USD+0.0197%1h806.20+0.174%$396K$1.0M10xas long as short
RISEx BNB/USDC+0.0209%1h805.89+0.135%$1.2M$1.5M20xas long as short
Hyperliquid BNBshort+0.0214%1h805.78+0.122%$52.0M$21.9M10x
Bulk BNB-USD+0.0217%1h806.94+0.266%$652K$11K10xas long as short
BloFin BNB-USDT+0.0234%8h807.00+0.273%$18.8M$3.1M75xas long as short
dYdX BNB-USD+0.0237%1h805.64+0.105%$170K$55K10xas long as short
Hibachi BNB/USDT-P+0.0248%1h806.29+0.185%$71K$48K12xas long as short
Reya BNBRUSDPERP+0.0334%1h804.70−0.013%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0344%1h806.38+0.196%$29K$1K10xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89+0.011%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0651%1h807.02+0.276%$3.0M$5.5M40xas long as short