Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.048%

Price spread now: Bulk against HTX+0.050%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on HTX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.230%+$23 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now +0.050%, 7d avg +0.114%

Together, before fees+0.420%+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.064% cheaper against HTX than usual: you would sell low and buy high (spread +0.050% now, against its 7-day average of +0.114%). If the spread goes back, that is −$6 on $10k: about 30 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	789.39	0.0100	pay 0.0100% / 8h	4h 40m	$8.1M	$9.4M	75x
Short	Bulk BNB-USD	789.78	0.0272	get 0.0034% / 1h	40m 32s	$640K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against HTX. 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 HTXbpFee BulkbpOrdersPrice spread, now +0.050%Rate

Funding earned: $36.21
Price spread: +0.050% → +0.114%: −$6.38
Slippage, 4 orders: −$7.45
Fee HTX: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $3.38
Costs to cover: 0.264%
Break-even: 6.3 days

Slippage from HTX: live order book, 4 min ago; Bulk: live order book, 19 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 HTX live order book, 4 min ago	2.29 bp	8.7 bp −$9	11.3 bp −$113	41.2 bp −$4,123	doesn't fit
Sell Bulk live order book, 19 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	6.0 bp −$601	15.9 bp −$7,951

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 −0.0184% / S +0.0349%	1h	789.30	−0.011%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.44	+0.134%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.05	+0.084%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.35	−0.004%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.989%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	790.50	+0.141%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	789.96	+0.073%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.008%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.70	+0.166%	$80.3M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	790.52	+0.144%	$493.2M	$788.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0073%	8h	790.08	+0.088%	$69.1M	$50.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	790.26	+0.111%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.55	+0.021%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.75	+0.046%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.44	+0.134%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.30	+0.116%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.60	+0.027%	$138.8M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.60	+0.027%	$53.4M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.30	+0.116%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.95	+0.071%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.62	+0.030%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.57	+0.023%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.92	+0.068%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.90	−0.061%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.18	+0.101%	$4.1M	$73.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.85	+0.059%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.73	+0.044%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.64	+0.032%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.06	+0.085%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.60	+0.027%	$388K	$1.0M	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	789.39	long leg	$8.1M	$9.4M	75x
Paradex BNB-USD-PERP	+0.0101%	8h	790.61	+0.155%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.65	+0.033%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.52	+0.017%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.39	+0.001%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0125%	1h	789.65	+0.033%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.89	+0.064%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0181%	8h	789.70	+0.040%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0186%	8h	790.09	+0.089%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	790.65	+0.160%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.26	−0.016%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USDshort	+0.0272%	1h	789.78	+0.050%	$640K	$9K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.96	+0.073%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	789.46	+0.010%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	790.46	+0.135%	$1.1M	$973K	20x	as long as short
Hibachi BNB/USDT-P	+0.0480%	1h	789.42	+0.004%	$67K	$38K	12x	as long as short