Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0241%/8h= −26.4% APRpaid last 24h −0.060%

Price spread now: Aster against Hyperliquid−0.028%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$210.215% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days+0.108%+$11 · spread now −0.028%, 7d avg +0.063%

Together, before fees+0.017%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aster is 0.090% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% 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	Hyperliquid BNB	799.99	0.0293	pay 0.0037% / 1h	14m 59s	$53.2M	$20.3M	10x
Short	Aster BNBUSDT	799.77	0.0052	get 0.0052% / 8h	7h 14m	$6.2M	$19.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$50.55
Price spread: −0.028% → +0.063%: −$9.04
Slippage, 4 orders: −$4.46
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$81.05
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Aster: live order book, 4 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 Hyperliquid live order book, 9 min ago	0.19 bp	6.3 bp −$6	9.1 bp −$91	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.50 bp	5.4 bp −$5	7.1 bp −$71	20.0 bp −$1,998	doesn't fit

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	799.22	−0.096%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	799.20	−0.099%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.55	−0.055%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0002%	8h	798.95	−0.130%	$35.9M	$56.9M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.67	−0.165%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.64	−0.044%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0005%	8h	798.43	−0.195%	$4.1M	$5.0M	—	as long as short
BingX BNB-USDC	+0.0007%	8h	798.31	−0.210%	—	$13.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.28	−0.089%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0026%	8h	799.88	−0.014%	$69.8M	$50.2M	50x	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	+0.638%	$19K	$789K	30x	as long as short
Bybit BNBUSDT	+0.0037%	8h	799.07	−0.115%	$138.7M	$76.2M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.115%	$615K	$1.1M	50x	as long as short
Aster BNBUSDTshort	+0.0052%	8h	799.77	−0.028%	$6.2M	$19.4M	200x
MEXC BNB_USDT	+0.0074%	8h	800.20	+0.026%	$83.2M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	799.87	−0.015%	$496.6M	$811.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.50	−0.062%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	798.98	−0.126%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.50	−0.186%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.21	−0.098%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.10	−0.111%	$54.2M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.20	−0.099%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.15	−0.105%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.92	−0.134%	$78.3M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.56	−0.179%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.57	−0.178%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.11	−0.110%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.26	−0.091%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.39	−0.075%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.75	−0.030%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.40	−0.074%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.63	−0.170%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.81	−0.022%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.87	−0.139%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.33	−0.083%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.274%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.17	−0.103%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0159%	8h	799.60	−0.049%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	799.65	−0.043%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0196%	1h	798.51	−0.185%	$161K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.33	−0.083%	$28K	$1K	10x	as long as short
Hibachi BNB/USDT-P	+0.0288%	1h	798.98	−0.126%	$68K	$38K	12x	as long as short
Hyperliquid BNBlong	+0.0293%	1h	799.99	long leg	$53.2M	$20.3M	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.75	−0.030%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.81	−0.148%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0428%	1h	800.06	+0.009%	$2.7M	$5.7M	40x	as long as short