Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0338%/8h= +37.0% APRpaid last 24h +0.034%

Price spread now: RISEx against HTX−0.018%7-day average +0.036% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on HTX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.124%+$12 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.018%, 7d avg +0.036%

Together, before fees+0.275%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.053% cheaper against HTX than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.036%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$10 a day). At the pace of the last 4 days (+0.124% in total) that is about 38 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.124% in total (about 12.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	787.80	0.0100	pay 0.0100% / 8h	1h 16m	$8.0M	$10.2M	75x
Short	RISEx BNB/USDC	787.65	0.0438	get 0.0055% / 1h	16m 47s	$1.1M	$915K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.018%Rate

Funding earned: $71.01
Price spread: −0.018% → +0.036%: −$5.34
Slippage, 4 orders: −$7.7
Fee HTX: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $39.96
Costs to cover: 0.257%
Break-even: 3.1 days

Slippage from HTX: live order book, 2 min ago; RISEx: live order book, 2 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, 2 min ago	1.42 bp	8.4 bp −$8	10.1 bp −$101	40.3 bp −$4,030	doesn't fit
Sell RISEx live order book, 2 min ago	0.06 bp	4.2 bp −$4	7.4 bp −$74	doesn't fit	doesn't fit

BNB on 45 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 −0.0170% / S +0.0337%	1h	787.40	−0.050%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.91	+0.014%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.38	+0.074%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.47	−0.041%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.195%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0051%	8h	788.31	+0.066%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.78	−0.002%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0062%	8h	788.17	+0.047%	$490.9M	$820.7M	75x	as long as short
MEXC BNB_USDT	+0.0062%	8h	788.90	+0.140%	$81.1M	$12.1M	200x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	+0.020%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.09	+0.037%	$68.9M	$51.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.063%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.70	−0.012%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.069%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.28	+0.061%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.69	−0.014%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.60	−0.025%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.50	−0.038%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.025%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.75	−0.006%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.43	−0.046%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.41	−0.049%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.11	+0.040%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.049%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.95	+0.020%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	+0.050%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.34	−0.058%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.48	−0.040%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.99	+0.024%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.025%	$387K	$979K	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	787.80	long leg	$8.0M	$10.2M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	787.96	+0.020%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.33	−0.059%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.51	−0.036%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0125%	8h	787.90	+0.013%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	−0.012%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	788.16	+0.046%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.88	+0.010%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.50	−0.037%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.28	+0.061%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.98	+0.023%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.066%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.12	−0.085%	$6K	$3K	40x	as long as short
RISEx BNB/USDCshort	+0.0438%	1h	787.65	−0.018%	$1.1M	$915K	20x
Hibachi BNB/USDT-P	+0.0504%	1h	787.77	−0.003%	$67K	$39K	12x	as long as short