Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.047%

Price spread now: HTX against Backpack−0.057%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now −0.057%, 7d avg −0.068%

Together, before fees−0.227%−$23 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	784.80	0.0100	pay 0.0013% / 1h	30m 34s	$2.2M	$6.1M	40x
Short	HTX BNB-USDT	784.36	0.0100	get 0.0100% / 8h	2h 30m	$8.0M	$10.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.068%: $1.17
Slippage, 4 orders: −$18.92
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.75
Costs to cover: 0.409%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; HTX: 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 Backpack live order book, 4 min ago	0.06 bp	5.1 bp −$5	6.0 bp −$60	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	1.46 bp	11.5 bp −$11	15.3 bp −$153	41.5 bp −$4,149	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 −0.0192% / S +0.0356%	1h	784.11	−0.087%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.20	+0.051%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.53	+0.093%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.21	−0.075%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	785.18	+0.048%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.585%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0041%	8h	784.50	−0.038%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0050%	8h	784.86	+0.008%	$68.7M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	785.40	+0.076%	$79.6M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	785.41	+0.077%	$488.9M	$809.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.10	−0.089%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.32	−0.061%	$577K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.79	−0.001%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.36	−0.056%	$264K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.55	−0.032%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.22	+0.054%	$51.5M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.89	+0.011%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.60	−0.025%	$137.9M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.50	−0.038%	$53.3M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.80	0.000%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.45	−0.045%	$36.3M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.26	−0.069%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.30	−0.064%	$75.9M	$30.9M	75x	as long as short
Backpack BNB_USDC_PERPlong	+0.0100%	1h	784.80	long leg	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	784.13	−0.086%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.38	+0.074%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.10	+0.038%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.30	−0.064%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.39	−0.052%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.98	+0.023%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.30	−0.064%	$386K	$994K	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	784.36	−0.057%	$8.0M	$10.0M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	784.97	+0.022%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.19	−0.078%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.56	−0.031%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.73	+0.119%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0127%	1h	784.34	−0.058%	$159K	$61K	10x	as long as short
Kalshi KXBNBPERP	+0.0138%	8h	784.80	0.000%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	784.93	+0.017%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	785.51	+0.091%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	785.44	+0.082%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.113%	$637K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.64	−0.021%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.06	−0.094%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.99	+0.024%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0488%	1h	785.21	+0.052%	$67K	$39K	12x	as long as short