Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.047%

Price spread now: Bitget against Hyperliquid−0.129%7-day average −0.071% · 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−$30as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 7 days+0.081%+$8 · spread now −0.129%, 7d avg −0.071%

Together, before fees+0.018%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.058% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	785.43	0.0100	pay 0.0013% / 1h	1m 33s	$51.5M	$17.6M	10x
Short	Bitget BNBUSDT	784.42	0.0100	get 0.0100% / 8h	1m 33s	$75.3M	$32.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.129%Rate

Funding earned: $0
Price spread: −0.129% → −0.071%: −$5.76
Slippage, 4 orders: −$2.82
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.58
Costs to cover: 0.238%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Bitget: live order book, 3 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, 12 min ago	0.13 bp	5.9 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.06 bp	6.9 bp −$7	8.4 bp −$84	19.7 bp −$1,971	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 −0.0168% / S +0.0337%	1h	784.39	−0.132%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.82	−0.078%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.38	−0.133%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	785.25	−0.023%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.84	−0.075%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	785.25	−0.023%	$5.9M	$18.6M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.503%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0038%	8h	784.78	−0.083%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0046%	8h	786.10	+0.085%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0046%	8h	785.30	−0.017%	$488.5M	$813.5M	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	+0.0082%	8h	785.12	−0.039%	$68.5M	$51.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.73	−0.089%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	784.80	−0.080%	$158K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.40	−0.131%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	785.43	long leg	$51.5M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	784.81	−0.079%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.70	−0.093%	$138.1M	$73.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	−0.106%	$53.4M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.70	−0.093%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.55	−0.112%	$38.6M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.51	−0.117%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDTshort	+0.0100%	8h	784.42	−0.129%	$75.3M	$32.6M	75x
Backpack BNB_USDC_PERP	+0.0100%	1h	784.83	−0.076%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.74	−0.087%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.86	−0.073%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.47	−0.122%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.71	−0.092%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.42	−0.129%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.53	−0.115%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.91	−0.067%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.50	−0.118%	$386K	$957K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.85	−0.074%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.11	−0.041%	$78K	$17K	50x	as long as short
Kalshi KXBNBPERP	+0.0103%	8h	785.00	−0.055%	$170K	$2.6M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	784.21	−0.155%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.44	−0.126%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.97	−0.059%	$548K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0127%	1h	784.34	−0.138%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0167%	8h	784.80	−0.080%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	784.84	−0.075%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0215%	8h	785.06	−0.047%	$2.9M	$27.5M	10x	as long as short
Bulk BNB-USD	+0.0237%	1h	785.14	−0.037%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.16	−0.034%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.58	−0.109%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.87	−0.071%	$1.1M	$921K	20x	as long as short
Hibachi BNB/USDT-P	+0.0440%	1h	784.71	−0.092%	$67K	$39K	12x	as long as short