Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Bitget against Hotstuff−0.061%46s7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Bitget is 0.061% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 27 hours of funding at the current rate (+$5 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	802.98	−0.0080	get 0.0010% / 1h	47m 48s	$4K	$1K	25x
Short	Bitget BNBUSDT	802.49	0.0100	get 0.0100% / 8h	47m 48s	$79.6M	$27.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hotstuff. 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 HotstuffbpFee BitgetbpOrdersPrice spread, now −0.061%Rate

Funding earned: $37.8
Price spread: −0.061% → 0.000%: −$6.1
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: $14.7
Costs to cover: 0.170%
Break-even: 4.3 days

Slippage unknown: Hotstuff: no order-book sample; Bitget: live order book, 1 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	0.06 bp	6.1 bp −$6	8.0 bp −$80	19.1 bp −$1,908	doesn't fit

Hotstuff: 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 −0.0201% / S +0.0372%	1h	802.75	−0.028%	$48K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	802.98	long leg	$4K	$1K	25x
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.78	−0.025%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.04	+0.007%	$3.0M	$28.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.39	+0.051%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.82	−0.021%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0029%	8h	802.05	−0.116%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.82	−0.020%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0063%	8h	802.40	−0.072%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.281%	$607K	$995K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	803.07	+0.011%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.45	−0.066%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.06	+0.010%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.060%	$54.7M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.10	+0.015%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.50	−0.060%	$35.9M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.62	−0.045%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDTshort	+0.0100%	8h	802.49	−0.061%	$79.6M	$27.4M	75x
edgeX BNBUSDC	+0.0100%	4h	803.14	+0.020%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.77	−0.026%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.70	−0.035%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.75	−0.029%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.99	+0.001%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.48	+0.062%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.87	−0.014%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.43	+0.056%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	803.41	+0.054%	$6.3M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.31	−0.084%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.81	−0.021%	$386K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0111%	8h	803.39	+0.051%	$70.2M	$51.0M	50x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	803.30	+0.040%	$110K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.70	+0.090%	$83.6M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.41	+0.054%	$502.5M	$818.0M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.03	+0.006%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0151%	1h	802.90	−0.010%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	803.22	+0.030%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.75	−0.029%	$71K	$49K	12x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.14	+0.020%	$18.2M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0253%	1h	803.49	+0.064%	$52.0M	$21.4M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	803.03	+0.006%	$1.1M	$1.4M	20x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.263%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0309%	1h	803.58	+0.075%	$653K	$20K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	802.35	−0.078%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0345%	1h	803.65	+0.083%	$2.7M	$5.7M	40x	as long as short
01 Exchange BNBUSD	+0.0384%	1h	803.56	+0.072%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0461%	1h	802.89	−0.012%	$162K	$62K	10x	as long as short