Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.075%

Price spread now: Orderly against Hibachi−0.022%7-day average — · you buy dearer than you sell

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

Long on Hibachi Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.432%−$43 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.022% cheaper against Hibachi than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BNB/USDT-P	800.70	0.0216	pay 0.0027% / 1h	24m 45s	$69K	$38K	12x
Short	Orderly PERP_BNB_USDC	800.52	0.0100	get 0.0100% / 8h	7h 24m	$387K	$459K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Hibachi. 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 HibachibpFee OrderlybpOrdersPrice spread, now −0.022%Rate

Funding earned: −$24.36
Price spread: −0.022% → 0.000%: −$2.21
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$41.57
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Orderly: 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 Hibachi no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Hibachi and Orderly: 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 −0.0159% / S +0.0334%	1h	800.55	−0.018%	$48K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0120%	1h	800.52	−0.022%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.30	−0.050%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0024%	8h	800.24	−0.057%	—	$13.4M	—	as long as short
Bybit BNBUSDT	−0.0007%	8h	800.10	−0.075%	$139.1M	$75.9M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.53	−0.145%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.70	−0.125%	$864K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	800.95	+0.032%	$70.0M	$50.1M	50x	as long as short
Variational Omni BNB	+0.0003%	8h	799.72	−0.122%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.56	−0.017%	$9.8M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.549%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0039%	8h	800.25	−0.056%	$35.8M	$56.5M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	800.80	+0.013%	$617K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0060%	8h	801.17	+0.059%	$6.2M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0080%	8h	800.86	+0.021%	$497.2M	$812.1M	75x	as long as short
MEXC BNB_USDT	+0.0080%	8h	801.20	+0.063%	$83.2M	$13.6M	200x	as long as short
Lighter BNB	+0.0096%	1h	800.53	−0.021%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.45	−0.031%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.00	−0.087%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.59	−0.013%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.10	−0.075%	$54.3M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.40	−0.037%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.50	−0.025%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.03	−0.083%	$78.4M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.40	−0.162%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.54	−0.145%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.13	−0.071%	$115K	$880K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	800.52	−0.022%	$387K	$459K	50x
Derive BNB-PERP	+0.0100%	1h	800.77	+0.009%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.26	+0.070%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.80	+0.013%	$394K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.35	−0.043%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.81	+0.014%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.17	−0.066%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	800.73	+0.004%	$385K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	−0.177%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	800.22	−0.059%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	801.30	+0.075%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0201%	8h	801.17	+0.059%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	800.60	−0.012%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0209%	1h	800.07	−0.078%	$161K	$63K	10x	as long as short
Hibachi BNB/USDT-Plong	+0.0216%	1h	800.70	long leg	$69K	$38K	12x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.15	+0.057%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0304%	1h	801.23	+0.067%	$53.2M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	799.71	−0.123%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0395%	1h	801.30	+0.075%	$2.7M	$5.7M	40x	as long as short