BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.02 per $10,000 · paid last 24h −0.044%

Price spread now: Deribit against Hyperliquid−0.046%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.046%, 7d avg 0.000%

Together, before fees+0.088%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of 0.000%). If the spread goes back, that is −$5 on $10k: about 13 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.092% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	799.41	0.0288	pay 0.0036% / 1h	9m 32s	$53.1M	$20.1M	10x
Short	Deribit BNB_USDC-PERPETUAL	799.04	0.0300	get 0.0037% / 1h	9m 32s	$1.6M	$161K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.046%Rate

Funding earned: $2.54
Price spread: −0.046% → 0.000%: −$4.59
Slippage, 4 orders: −$13.04
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.09
Costs to cover: 0.290%
Break-even: 92.7 days

Slippage from Hyperliquid: live order book, 4 min ago; Deribit: 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, 4 min ago	0.50 bp	6.0 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	3.94 bp	7.4 bp −$7	13.4 bp −$134	doesn't fit	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	798.71	−0.087%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.26	−0.144%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.16	−0.031%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.74	+0.041%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.03	−0.048%	$863K	$2.9M	30x	as long as short
Phemex BNBUSDT	+0.0002%	8h	798.97	−0.055%	$69.8M	$50.1M	50x	as long as short
Gate BNB_USDT	+0.0005%	8h	798.55	−0.108%	$35.9M	$57.0M	75x	as long as short
Variational Omni BNB	+0.0008%	8h	797.92	−0.187%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.72	−0.086%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.711%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDT	+0.0035%	8h	798.97	−0.055%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.043%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	799.12	−0.036%	$6.1M	$19.4M	200x	as long as short
Bybit BNBUSDT	+0.0072%	8h	798.60	−0.101%	$138.7M	$76.0M	75x	as long as short
MEXC BNB_USDT	+0.0072%	8h	799.70	+0.036%	$83.1M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0072%	8h	799.27	−0.018%	$496.5M	$808.4M	75x	as long as short
Lighter BNB	+0.0096%	1h	798.84	−0.072%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.04	+0.079%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.50	−0.114%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.93	−0.061%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.60	−0.101%	$54.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	−0.039%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.44	−0.121%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.44	−0.121%	$78.2M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.74	−0.083%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.57	−0.105%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.64	−0.096%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.61	−0.100%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.74	−0.084%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.36	−0.007%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	−0.114%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.40	−0.126%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.45	+0.005%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.52	−0.112%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.57	−0.105%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.201%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.93	−0.060%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	798.60	−0.101%	$90K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0191%	1h	798.50	−0.114%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0193%	8h	798.69	−0.090%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.99	−0.053%	$28K	$1K	10x	as long as short
Hyperliquid BNBlong	+0.0288%	1h	799.41	long leg	$53.1M	$20.1M	10x
Deribit BNB_USDC-PERPETUALshort	+0.0300%	1h	799.04	−0.046%	$1.6M	$161K	25x
Hibachi BNB/USDT-P	+0.0320%	1h	799.02	−0.049%	$68K	$38K	12x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.46	−0.119%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0430%	1h	799.38	−0.004%	$2.7M	$5.7M	40x	as long as short