Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.045%

Price spread now: Hotstuff against Bybit+0.077%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

The price spread pays, funding is against you. Hotstuff is 0.077% dearer against Bybit than usual: you sell high and buy low (spread +0.077% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	789.10	0.0100	pay 0.0100% / 8h	4h 21m	$138.8M	$74.6M	75x
Short	Hotstuff BNB-PERP	789.71	−0.0080	pay 0.0010% / 1h	21m 04s	$4K	$42	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$37.8
Price spread: +0.077% → 0.000%: $7.73
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$46.07
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.63 bp	6.9 bp −$7	8.5 bp −$85	24.8 bp −$2,481	164.9 bp −$82.5K
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 −0.0187% / S +0.0352%	1h	789.12	+0.003%	$46K	—	200x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	789.71	+0.077%	$4K	$42	25x
StandX BNB-USD	0.0000%	1h	789.55	+0.057%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.18	+0.010%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.026%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0039%	8h	789.76	+0.084%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0052%	8h	789.27	+0.022%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	789.81	+0.090%	$69.1M	$50.0M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	790.00	+0.114%	$80.2M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	789.72	+0.078%	$492.8M	$790.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.044%	$582K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.34	+0.030%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.23	+0.016%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.20	+0.013%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.76	+0.084%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.39	+0.037%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	789.10	long leg	$138.8M	$74.6M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	0.000%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.30	+0.025%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.20	+0.013%	$35.5M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.11	+0.001%	$27.9M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.85	−0.032%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.57	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.00	−0.012%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.71	+0.077%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.13	+0.131%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.97	−0.016%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.31	+0.027%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.70	+0.076%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.40	+0.038%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.38	+0.035%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.83	+0.092%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.84	−0.033%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.23	+0.017%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.49	+0.049%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0128%	1h	789.35	+0.032%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0148%	8h	789.97	+0.110%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	789.70	+0.076%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0183%	8h	789.68	+0.074%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.130%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.63	+0.067%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.05	−0.006%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.61	+0.064%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.90	−0.026%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	789.50	+0.051%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.42	+0.041%	$1.1M	$967K	20x	as long as short