Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.075%

Price spread now: Paradex against Hibachi−0.051%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 Paradex

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 airdropHibachi: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Paradex is 0.051% cheaper against Hibachi than usual: you would sell low and buy high (−$5 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	799.78	0.0240	pay 0.0030% / 1h	22m 09s	$69K	$38K	12x
Short	Paradex BNB-USD-PERP	799.37	0.0100	get 0.0100% / 8h	7h 22m	$78K	$18K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$29.38
Price spread: −0.051% → 0.000%: −$5.07
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$47.46
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Hibachi and Paradex: 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 +0.0335%	1h	798.68	−0.138%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.54	−0.155%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.11	−0.083%	$4K	$239	25x	as long as short
BingX BNB-USDT	−0.0024%	8h	798.80	−0.122%	—	$35.0M	—	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.63	+0.107%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.20	+0.053%	$865K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	799.29	−0.061%	$69.8M	$50.1M	50x	as long as short
Variational Omni BNB	+0.0003%	8h	799.72	−0.007%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.66	−0.140%	$9.7M	—	150x	as long as short
Bybit BNBUSDT	+0.0010%	8h	798.56	−0.152%	$138.9M	$76.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BNB_USDT	+0.0020%	8h	798.50	−0.160%	$35.8M	$56.6M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.664%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.088%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0057%	8h	799.28	−0.062%	$6.2M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0079%	8h	799.23	−0.069%	$496.2M	$812.0M	75x	as long as short
MEXC BNB_USDT	+0.0079%	8h	799.60	−0.022%	$83.1M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.86	−0.115%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.45	+0.084%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.65	−0.141%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.22	−0.070%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.60	−0.147%	$54.2M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	−0.085%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.67	−0.138%	$27.9M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.26	−0.190%	$78.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.60	+0.102%	$4.2M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.54	−0.030%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.73	−0.131%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.65	−0.141%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.77	−0.125%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.11	−0.084%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.80	−0.122%	$393K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.72	−0.132%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERPshort	+0.0100%	8h	799.37	−0.051%	$78K	$18K	50x
Extended BNB-USD	+0.0104%	1h	798.32	−0.182%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.72	−0.132%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	−0.062%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.78	−0.124%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	799.40	−0.047%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0200%	8h	799.81	+0.004%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.88	−0.112%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.08	−0.087%	$1.6M	$161K	25x	as long as short
dYdX BNB-USD	+0.0202%	1h	799.08	−0.087%	$161K	$63K	10x	as long as short
Hibachi BNB/USDT-Plong	+0.0240%	1h	799.78	long leg	$69K	$38K	12x
Hyperliquid BNB	+0.0302%	1h	799.52	−0.032%	$53.1M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.31	−0.184%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0396%	1h	799.48	−0.037%	$2.7M	$5.7M	40x	as long as short