Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against SunX−0.028%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.028% cheaper against SunX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	788.84	0.0100	pay 0.0100% / 8h	5h 44m	$12K	$1.6M	50x
Short	Hotstuff BNB-PERP	788.62	−0.0080	pay 0.0010% / 1h	44m 12s	$4K	$239	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against SunX. 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 SunXbpFee HotstuffbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$37.8
Price spread: −0.028% → 0.000%: −$2.81
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$53.61
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Hotstuff: no order-book sample. 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 SunX live order book, 11 min ago	15.06 bp	21.8 bp −$22	29.4 bp −$294	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 −0.0167% / S +0.0335%	1h	787.82	−0.130%	$46K	—	200x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	788.62	−0.028%	$4K	$239	25x
StandX BNB-USD	0.0000%	1h	788.83	−0.002%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	787.90	−0.119%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.060%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	788.93	+0.011%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	788.47	−0.047%	$619K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	788.20	−0.081%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0072%	8h	789.20	+0.045%	$80.3M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0072%	8h	788.87	+0.003%	$493.6M	$806.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0078%	8h	788.62	−0.028%	$69.0M	$51.0M	50x	as long as short
Variational Omni BNB	+0.0078%	8h	787.81	−0.131%	$4.1M	$4.7M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.20	−0.081%	$2.5M	$1.2M	50x	as long as short
Gate BNB_USDT	+0.0095%	8h	787.95	−0.113%	$35.3M	$56.8M	75x	as long as short
Lighter BNB	+0.0096%	1h	788.50	−0.044%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.18	−0.084%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.05	−0.100%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.82	−0.003%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.45	−0.050%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.056%	$138.7M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	−0.056%	$53.4M	$112.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.50	−0.043%	$52K	$130K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.06	−0.099%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.96	−0.112%	$76.8M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.87	+0.004%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.59	−0.032%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.14	+0.038%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.12	−0.092%	$137K	$944K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.43	−0.053%	$31K	$12K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	788.84	long leg	$12K	$1.6M	50x
HTX BNB-USDT	+0.0100%	8h	788.25	−0.075%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.07	+0.029%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.94	−0.114%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.31	−0.067%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.34	−0.064%	$169K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0122%	8h	788.59	−0.031%	$2.9M	$28.3M	10x	as long as short
SoDEX BNB-USD	+0.0155%	1h	788.30	−0.069%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	788.70	−0.018%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0192%	8h	789.08	+0.030%	—	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0247%	1h	788.26	−0.074%	$159K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	788.77	−0.009%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.90	−0.120%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.64	−0.026%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0373%	1h	788.05	−0.100%	$638K	$13K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	788.71	−0.017%	$1.5M	$152K	25x	as long as short
Hibachi BNB/USDT-P	+0.0576%	1h	788.28	−0.071%	$67K	$38K	12x	as long as short