Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.048%

Price spread now: MEXC against Hyperliquid+0.132%7-day average +0.161% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days+0.087%+$9 · spread now +0.132%, 7d avg +0.161%

Together, before fees+0.011%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.029% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.161%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	787.66	0.0100	pay 0.0013% / 1h	47m 44s	$51.7M	$17.6M	10x
Short	MEXC BNB_USDT	788.70	0.0044	get 0.0044% / 8h	7h 47m	$82.0M	$12.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$11.76
Price spread: +0.132% → +0.161%: −$2.92
Slippage, 4 orders: −$6.77
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$34.44
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; MEXC: live order book, 1 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, 6 min ago	0.06 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.90 bp	4.4 bp −$4	6.8 bp −$68	24.7 bp −$2,473	39.9 bp −$20.0K

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	787.27	−0.049%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.46	−0.025%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	787.15	−0.065%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.65	−0.129%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	787.82	+0.020%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.29	−0.047%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	787.71	+0.006%	$6.0M	$18.5M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.213%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0036%	8h	787.38	−0.036%	—	$13.4M	—	as long as short
MEXC BNB_USDTshort	+0.0044%	8h	788.70	+0.132%	$82.0M	$12.1M	200x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0044%	8h	787.62	−0.006%	$490.0M	$812.0M	75x	as long as short
dYdX BNB-USD	+0.0082%	1h	787.07	−0.075%	$157K	$64K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.27	−0.050%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.95	−0.090%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	787.66	long leg	$51.7M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	787.33	−0.042%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.00	−0.084%	$138.6M	$73.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.096%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.20	−0.058%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.10	−0.071%	$39.2M	$55.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.74	−0.117%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.67	−0.126%	$75.5M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.32	−0.043%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.62	−0.132%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.52	−0.145%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.37	−0.164%	$158K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.40	−0.033%	$132K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.36	−0.038%	$265K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.23	−0.055%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.62	−0.005%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	−0.033%	$387K	$950K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.52	−0.018%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.53	−0.016%	$78K	$17K	50x	as long as short
Phemex BNBUSDT	+0.0101%	8h	787.93	+0.034%	$68.7M	$51.1M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.75	−0.116%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.23	−0.055%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	787.70	+0.005%	$171K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	−0.136%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.53	−0.143%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0165%	8h	787.72	+0.008%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.71	+0.007%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0215%	1h	787.68	+0.003%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.61	−0.006%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	787.06	−0.077%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.42	−0.031%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	787.16	−0.063%	$67K	$39K	12x	as long as short