Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.044%

Price spread now: HTX against Bulk+0.003%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Bulk Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.235%−$24 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.003%, 7d avg −0.113%

Together, before fees−0.393%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.116% dearer against Bulk than usual: you sell high and buy low (spread +0.003% now, against its 7-day average of −0.113%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk BNB-USD	788.15	0.0378	pay 0.0047% / 1h	7m 01s	$639K	$4K	10x
Short	HTX BNB-USDT	788.17	0.0100	get 0.0100% / 8h	2h 07m	$8.0M	$10.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bulk. 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 BulkbpFee HTXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$58.36
Price spread: +0.003% → −0.113%: $11.59
Slippage, 4 orders: −$6.98
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$72.75
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Bulk: live order book, 42 min ago; HTX: live order book, 2 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 Bulk live order book, 42 min ago	0.06 bp	3.6 bp −$4	4.4 bp −$44	9.0 bp −$899	20.0 bp −$9,978
Sell HTX live order book, 2 min ago	2.12 bp	10.7 bp −$11	13.3 bp −$133	44.0 bp −$4,397	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	788.03	−0.015%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.21	+0.008%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.04	+0.113%	$851K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.06	−0.011%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.149%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	788.78	+0.080%	$6.1M	$19.1M	200x	as long as short
BingX BNB-USDT	+0.0050%	8h	788.31	+0.020%	—	$22.2M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	788.84	+0.088%	$69.0M	$50.8M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	789.00	+0.108%	$80.9M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	788.62	+0.060%	$490.9M	$815.5M	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	788.12	−0.004%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.029%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.40	+0.031%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.23	+0.010%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.75	−0.051%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.81	+0.084%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.34	+0.024%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.03	−0.015%	$138.7M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.00	−0.019%	$53.6M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	+0.032%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.15	0.000%	$36.9M	$59.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.95	−0.025%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.93	−0.028%	$76.3M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.44	+0.037%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.91	−0.030%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.22	+0.009%	$4.1M	$75.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.81	−0.043%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.00	−0.019%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.43	+0.035%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.73	+0.073%	$12K	$1.5M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	788.17	+0.003%	$8.0M	$10.1M	75x
Paradex BNB-USD-PERP	+0.0101%	8h	788.43	+0.036%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.88	−0.035%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.24	+0.011%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.87	−0.035%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0125%	1h	788.30	+0.019%	$388K	$989K	10x	as long as short
Kalshi KXBNBPERP	+0.0138%	8h	788.40	+0.032%	$163K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0141%	1h	787.74	−0.052%	$160K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	788.82	+0.085%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0221%	8h	788.50	+0.044%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.64	+0.062%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.78	+0.080%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.90	−0.031%	$6K	$3K	40x	as long as short
Bulk BNB-USDlong	+0.0378%	1h	788.15	long leg	$639K	$4K	10x
RISEx BNB/USDC	+0.0432%	1h	788.41	+0.034%	$1.1M	$902K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	788.50	+0.045%	$68K	$39K	12x	as long as short