Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.088%

Price spread now: HTX against dYdX−0.015%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.418%−$42 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.015%, 7d avg −0.015%

Together, before fees−0.489%−$49 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	787.74	0.0148	pay 0.0019% / 1h	10m 52s	$160K	$62K	10x
Short	HTX BNB-USDT	787.63	0.0100	get 0.0100% / 8h	2h 10m	$8.0M	$10.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$10.12
Price spread: −0.015% → −0.015%: $0.02
Slippage, 4 orders: −$47.87
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$79.97
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from dYdX: live order book, 38 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 dYdX live order book, 38 min ago	11.80 bp	26.3 bp −$26	147.9 bp −$1,479	224.5 bp −$22.5K	443.5 bp −$221.8K
Sell HTX live order book, 3 min ago	0.52 bp	9.8 bp −$10	14.8 bp −$148	42.6 bp −$4,257	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	787.81	+0.008%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.37	−0.047%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.36	+0.078%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.92	+0.023%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.202%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0042%	8h	788.26	+0.066%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0048%	8h	787.88	+0.017%	—	$22.2M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	788.66	+0.116%	$69.0M	$50.8M	50x	as long as short
MEXC BNB_USDT	+0.0064%	8h	788.50	+0.096%	$80.7M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	788.04	+0.037%	$490.9M	$814.5M	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	787.95	+0.026%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.240%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.77	+0.004%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.98	+0.030%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.75	+0.001%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.22	+0.060%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.85	+0.014%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.74	0.000%	$138.6M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.60	−0.018%	$53.5M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.80	+0.007%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.80	+0.007%	$36.8M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.79	+0.006%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.42	−0.041%	$76.2M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.36	+0.078%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.91	+0.022%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.004%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.81	+0.009%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.76	+0.002%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.21	+0.059%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.66	+0.116%	$12K	$1.5M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	787.63	−0.015%	$8.0M	$10.1M	75x
Paradex BNB-USD-PERP	+0.0101%	8h	788.09	+0.044%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.33	−0.053%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.05	+0.039%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.24	−0.064%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0133%	1h	788.10	+0.045%	$387K	$992K	10x	as long as short
Kalshi KXBNBPERP	+0.0138%	8h	788.20	+0.058%	$161K	$2.7M	4.8x	as long as short
dYdX BNB-USDlong	+0.0148%	1h	787.74	long leg	$160K	$62K	10x
BloFin BNB-USDT	+0.0186%	8h	788.56	+0.104%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0219%	8h	787.26	−0.061%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.47	+0.092%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.42	+0.086%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.70	−0.005%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0378%	1h	788.15	+0.052%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	787.96	+0.027%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	787.67	−0.009%	$67K	$39K	12x	as long as short