Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.043%

Price spread now: Hyperliquid against ApeX Omni+0.017%105s7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.325% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.017%, 7d avg −0.019%

Together, before fees−0.140%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.035% dearer against ApeX Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.019%. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	787.16	0.0100	pay 0.0013% / 1h	19m 46s	$158K	$444K	50x
Short	Hyperliquid BNB	787.29	0.0100	get 0.0013% / 1h	19m 46s	$51.8M	$17.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against ApeX Omni. 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 ApeX OmnibpFee HyperliquidbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → −0.019%: $3.51
Slippage, 4 orders: −$13.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$28.99
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 30 min ago; Hyperliquid: live order book, 7 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 ApeX Omni live order book, 30 min ago	4.07 bp	10.0 bp −$10	31.9 bp −$319	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.38 bp	5.0 bp −$5	7.2 bp −$72	doesn't fit	doesn't fit

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	786.68	−0.061%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.36	+0.025%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.25	+0.012%	$5.9M	$17.4M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.34	+0.023%	$3.0M	$26.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.40	+0.030%	$158K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.36	+0.025%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.88	−0.035%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0020%	8h	788.30	+0.145%	$83.3M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0020%	8h	787.20	+0.005%	$481.6M	$779.6M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.278%	$19K	$789K	30x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0035%	1h	786.63	−0.067%	$2.5M	$1.3M	50x	as long as short
Bybit BNBUSDT	+0.0073%	8h	786.30	−0.109%	$138.5M	$68.6M	75x	as long as short
BloFin BNB-USDT	+0.0081%	8h	787.74	+0.074%	$17.6M	$2.2M	75x	as long as short
Phoenix BNB	+0.0094%	1h	787.39	+0.029%	$158K	$45K	10x	as long as short
Phemex BNBUSDT	+0.0096%	8h	787.39	+0.029%	$68.4M	$51.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.71	−0.057%	$2.7M	$3.4M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.69	−0.059%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	787.29	+0.017%	$51.8M	$17.0M	10x
Pacifica BNB	+0.0100%	1h	786.85	−0.039%	$1.2M	$933K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.097%	$53.4M	$103.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.00	−0.020%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−0.071%	$40.7M	$55.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.45	−0.090%	$28.2M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.40	−0.097%	$75.5M	$32.3M	75x	as long as short
BingX BNB-USDC	+0.0100%	8h	786.97	−0.024%	—	$13.4M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.20	+0.005%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.49	−0.085%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.43	+0.034%	$4.1M	$75.4M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	787.16	long leg	$158K	$444K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	786.88	−0.036%	$130K	$911K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.79	−0.047%	$264K	$300K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.53	+0.046%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	−0.020%	$387K	$928K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.11	−0.007%	$1.5M	$158K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.95	−0.026%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.12	−0.005%	$78K	$337K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.16	−0.127%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.77	−0.049%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0136%	1h	786.42	−0.094%	$544K	$1.9M	50x	as long as short
Bulk BNB-USD	+0.0212%	1h	787.70	+0.069%	$638K	$0	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.51	+0.044%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	786.32	−0.107%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0344%	1h	787.17	+0.002%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0345%	1h	787.23	+0.009%	$1.1M	$910K	20x	as long as short
dYdX BNB-USD	+0.0377%	1h	786.57	−0.075%	$158K	$38K	10x	as long as short