Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: HTX against Deribit−0.058%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$350.345% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now −0.058%, 7d avg −0.055%

Together, before fees−0.147%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	785.49	0.0200	pay 0.0025% / 1h	4m 50s	$1.5M	$141K	25x
Short	HTX BNB-USDT	785.04	0.0100	get 0.0100% / 8h	4m 50s	$8.0M	$10.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$21
Price spread: −0.058% → −0.055%: −$0.27
Slippage, 4 orders: −$15.53
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$55.8
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; HTX: live order book, 4 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 Deribit live order book, 4 min ago	3.38 bp	10.7 bp −$11	15.0 bp −$150	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	0.73 bp	7.4 bp −$7	10.7 bp −$107	44.1 bp −$4,408	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 −0.0168% / S +0.0337%	1h	784.93	−0.072%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.40	−0.012%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.89	−0.077%	$2.5M	$1.2M	50x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	785.60	+0.013%	$171K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.55	+0.007%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.99	−0.065%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0032%	8h	785.50	+0.001%	$6.0M	$18.6M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.495%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0038%	8h	785.06	−0.055%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0047%	8h	786.20	+0.090%	$81.1M	$12.1M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0047%	8h	785.47	−0.003%	$488.4M	$813.8M	75x	as long as short
Phemex BNBUSDT	+0.0080%	8h	785.74	+0.031%	$68.6M	$51.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.14	−0.045%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	785.57	+0.010%	$158K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.65	−0.107%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.60	+0.013%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.11	−0.048%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.80	−0.088%	$138.1M	$73.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.90	−0.076%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.10	−0.050%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.95	−0.069%	$38.5M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.69	−0.102%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.67	−0.105%	$75.3M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.38	−0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.74	−0.096%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.11	−0.049%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.13	−0.046%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.91	−0.074%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.09	−0.051%	$264K	$385K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.73	−0.097%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.40	−0.012%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.20	−0.037%	$386K	$959K	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	785.04	−0.058%	$8.0M	$10.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	785.40	−0.013%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.66	−0.107%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.06	−0.056%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	785.15	−0.044%	$544K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0127%	1h	784.99	−0.064%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0167%	8h	785.47	−0.003%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0200%	1h	785.49	long leg	$1.5M	$141K	25x
GRVT BNB_USDT_Perp	+0.0215%	8h	785.41	−0.011%	$2.9M	$27.7M	10x	as long as short
Bulk BNB-USD	+0.0237%	1h	785.14	−0.045%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.71	+0.027%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.78	−0.092%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.39	−0.013%	$1.1M	$921K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	785.23	−0.034%	$67K	$39K	12x	as long as short