Funding you earn now, next payment 22:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.12 per $10,000 · paid last 24h +0.058%
Price spread now: Hyperliquid against Polymarket Perps+0.095%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$250.247% of the position
Funding, last 7 days+0.028%+$3 on $10k
+Price spread, last 3 days (all we have)−0.151%−$15 · spread now +0.095%, 7d avg +0.040%
=Together, before fees−0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board−$12 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 0.055% dearer against Polymarket Perps than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.040%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps BNB-USD | 806.50 | 0.0100 | pay 0.0013% / 1h | 17m 41s | $115K | $872K | 10x |
| Short | Hyperliquid BNB | 807.27 | 0.0195 | get 0.0024% / 1h | 17m 41s | $51.9M | $21.4M | 10x |
Polymarket Perps BNB-USD
Hyperliquid BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Polymarket Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.04
- Price spread: +0.095% → +0.040%
- $5.52
- Slippage, 4 orders
- −$7.71
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $0.84
- Costs to cover
- 0.247%
- Break-even
- 6.7 days
Slippage from Polymarket Perps: live order book, 5 min ago; Hyperliquid: live order book, 6 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 Polymarket Perps live order book, 5 min ago | 2.54 bp | 7.1 bp −$7 | 7.9 bp −$79 | 15.6 bp −$1,562 | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 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 | 806.49 | −0.001% | $49K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 807.10 | +0.074% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 807.05 | +0.068% | $3.0M | $29.5M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 807.10 | +0.074% | $114K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 806.70 | +0.025% | $872K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 806.52 | +0.003% | $9.8M | — | 150x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0038% | 1h | 806.59 | +0.012% | $2.5M | $908K | 50x | as long as short |
| Variational Omni BNB | +0.0050% | 8h | 805.91 | −0.074% | $4.1M | $5.4M | — | as long as short |
| BingX BNB-USDT | +0.0054% | 8h | 806.71 | +0.026% | — | $34.5M | — | as long as short |
| Bybit BNBUSDT | +0.0077% | 8h | 806.30 | −0.025% | $139.9M | $82.5M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Kraken Futures PF_BNBUSD
Variational Omni BNB
BingX BNB-USDT
Bybit BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International BNB-PERP-INTX | +0.0088% | 1h | 806.90 | +0.050% | $610K | $883K | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 806.77 | +0.033% | $2.8M | $4.2M | 20x | as long as short |
| Aster BNBUSDT | +0.0098% | 8h | 807.18 | +0.085% | $6.4M | $18.8M | 200x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 806.30 | −0.025% | $1.4M | $2.8M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 806.91 | +0.050% | $1.2M | $924K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 806.60 | +0.012% | $55.2M | $116.2M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 807.10 | +0.074% | $53K | $170K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 806.50 | 0.000% | $36.1M | $58.9M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 806.54 | +0.005% | $28.2M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 806.30 | −0.025% | $79.1M | $24.7M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 807.34 | +0.104% | $4.2M | $77.1M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 806.58 | +0.010% | $159K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USDlong | +0.0100% | 1h | 806.50 | long leg | $115K | $872K | 10x | |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 806.55 | +0.006% | $390K | $593K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 806.73 | +0.028% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 807.22 | +0.089% | $14K | $1.7M | 50x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0100% | 1h | 807.07 | +0.071% | $1.6M | $165K | 25x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 806.57 | +0.009% | $8.2M | $7.5M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 807.37 | +0.108% | $79K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 806.40 | −0.012% | $1.9M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 806.76 | +0.032% | $388K | $40K | 10x | as long as short |
| MEXC BNB_USDT | +0.0114% | 8h | 807.70 | +0.149% | $84.8M | $13.6M | 200x | as long as short |
| Binance BNBUSDT | +0.0114% | 8h | 807.24 | +0.092% | $521.6M | $806.0M | 75x | as long as short |
| Phoenix BNB | +0.0125% | 1h | 806.38 | −0.015% | $173K | $35K | 10x | as long as short |
| Phemex BNBUSDT | +0.0126% | 8h | 807.14 | +0.079% | $70.4M | $51.8M | 50x | as long as short |
| Hyperliquid BNBshort | +0.0195% | 1h | 807.27 | +0.095% | $51.9M | $21.4M | 10x | |
| RISEx BNB/USDC | +0.0209% | 1h | 806.94 | +0.055% | $1.2M | $1.5M | 20x | as long as short |
| SoDEX BNB-USD | +0.0209% | 1h | 806.60 | +0.012% | $397K | $1.0M | 10x | as long as short |
| Bulk BNB-USD | +0.0217% | 1h | 806.94 | +0.055% | $652K | $11K | 10x | as long as short |
| BloFin BNB-USDT | +0.0233% | 8h | 807.11 | +0.076% | $18.8M | $3.1M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0240% | 1h | 806.71 | +0.026% | $72K | $48K | 12x | as long as short |
| dYdX BNB-USD | +0.0241% | 1h | 807.07 | +0.070% | $171K | $55K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0334% | 1h | 806.31 | −0.024% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0344% | 1h | 807.47 | +0.120% | $29K | $1K | 10x | as long as short |
| Injective BNB/USDC PERP | +0.0353% | 1h | 804.89 | −0.200% | $19K | $627K | 30x | as long as short |
| Backpack BNB_USDC_PERP | +0.0653% | 1h | 807.48 | +0.122% | $3.0M | $5.5M | 40x | as long as short |
Coinbase International BNB-PERP-INTX
Lighter BNB
Aster BNBUSDT
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
Deribit BNB_USDC-PERPETUAL
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
MEXC BNB_USDT
Binance BNBUSDT
Phoenix BNB
Phemex BNBUSDT
RISEx BNB/USDC
SoDEX BNB-USD
Bulk BNB-USD
BloFin BNB-USDT
Hibachi BNB/USDT-P
dYdX BNB-USD
Reya BNBRUSDPERP
01 Exchange BNBUSD
Injective BNB/USDC PERP
Backpack BNB_USDC_PERP