BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.4% APRnext payment +$0.08 per $10,000 · paid last 24h +0.042%

Price spread now: Hyperliquid against Deribit+0.069%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now +0.069%, 7d avg −0.002%

Together, before fees−0.077%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.070% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.002%. Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	801.35	0.0200	pay 0.0025% / 1h	30m 17s	$1.6M	$165K	25x
Short	Hyperliquid BNB	801.90	0.0267	get 0.0033% / 1h	30m 17s	$51.9M	$22.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.069%Rate

Funding earned: $14.15
Price spread: +0.069% → −0.002%: $7.04
Slippage, 4 orders: −$11.98
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$6.79
Costs to cover: 0.280%
Break-even: 10.4 days

Slippage from Deribit: live order book, 4 min ago; Hyperliquid: 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 Deribit live order book, 4 min ago	3.42 bp	6.9 bp −$7	13.4 bp −$134	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.50 bp	5.1 bp −$5	6.7 bp −$67	doesn't fit	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 −0.0201% / S +0.0372%	1h	800.91	−0.055%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.22	−0.016%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.39	+0.504%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.50	+0.019%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.20	+0.106%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.92	−0.054%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	−0.062%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0067%	8h	801.19	−0.020%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	800.60	−0.094%	$139.5M	$83.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.33	−0.003%	$2.8M	$4.2M	20x	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	+0.0096%	1h	801.19	−0.020%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	801.21	−0.018%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.51	−0.105%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.91	−0.055%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.70	−0.081%	$54.8M	$117.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.20	−0.019%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.60	−0.094%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.68	−0.084%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.64	−0.089%	$81.0M	$26.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	802.78	+0.179%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	+0.138%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.75	−0.075%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.91	−0.055%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.14	−0.027%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.57	+0.027%	$12K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.56	+0.026%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.52	+0.021%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.60	−0.094%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.11	−0.030%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.90	+0.069%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.68	+0.041%	$517.1M	$829.3M	75x	as long as short
Phemex BNBUSDT	+0.0130%	8h	801.50	+0.019%	$70.0M	$51.7M	50x	as long as short
SoDEX BNB-USD	+0.0131%	1h	801.10	−0.031%	$394K	$1.0M	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	801.47	+0.014%	$71K	$48K	12x	as long as short
Phoenix BNB	+0.0155%	1h	804.78	+0.428%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0167%	1h	800.67	−0.085%	$161K	$62K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0200%	1h	801.35	long leg	$1.6M	$165K	25x
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.11	−0.030%	$2.6M	$983K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.60	+0.031%	$18.8M	$2.6M	75x	as long as short
Hyperliquid BNBshort	+0.0267%	1h	801.90	+0.069%	$51.9M	$22.2M	10x
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.467%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	800.97	−0.048%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.60	−0.094%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	801.54	+0.024%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	+0.029%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0665%	1h	801.91	+0.070%	$3.0M	$5.5M	40x	as long as short