Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.075%

Price spread now: Hibachi against Orderly+0.074%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.432%+$43 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hibachi is 0.074% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	799.99	0.0100	pay 0.0100% / 8h	7h 24m	$387K	$459K	50x
Short	Hibachi BNB/USDT-P	800.58	0.0224	get 0.0028% / 1h	24m 26s	$69K	$38K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Orderly. 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 OrderlybpFee HibachibpOrdersPrice spread, now +0.074%Rate

Funding earned: $26.04
Price spread: +0.074% → 0.000%: $7.41
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $18.45
Costs to cover: 0.150%
Break-even: 2.0 days

Slippage unknown: Orderly: no order-book sample; Hibachi: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Hibachi no order-book sample	—	—	—	—	—

Orderly and Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	799.95	−0.005%	$48K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0120%	1h	800.52	+0.066%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.66	+0.084%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0024%	8h	800.10	+0.014%	—	$13.4M	—	as long as short
Bybit BNBUSDT	−0.0007%	8h	799.90	−0.011%	$139.0M	$75.9M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.53	−0.057%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.87	+0.110%	$866K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	800.95	+0.120%	$70.0M	$50.1M	50x	as long as short
Variational Omni BNB	+0.0003%	8h	799.72	−0.034%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.01	+0.003%	$9.8M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BNB_USDT	+0.0029%	8h	799.80	−0.024%	$35.8M	$56.5M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.638%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	800.80	+0.101%	$617K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0060%	8h	800.58	+0.074%	$6.2M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0080%	8h	800.59	+0.075%	$497.0M	$811.8M	75x	as long as short
MEXC BNB_USDT	+0.0080%	8h	801.00	+0.126%	$83.2M	$13.6M	200x	as long as short
Lighter BNB	+0.0096%	1h	800.53	+0.067%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.45	+0.058%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.10	+0.014%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.59	+0.075%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.90	−0.011%	$54.3M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.60	+0.076%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.96	−0.004%	$27.9M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.62	−0.046%	$78.3M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.40	−0.074%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.54	−0.056%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.04	+0.006%	$115K	$882K	10x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	799.99	long leg	$387K	$459K	50x
Derive BNB-PERP	+0.0100%	1h	800.12	+0.016%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.26	+0.159%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.80	+0.101%	$394K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.35	+0.045%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.95	+0.120%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.92	−0.009%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.93	−0.007%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.28	−0.089%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	800.33	+0.043%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	801.30	+0.164%	$90K	$2.8M	4.8x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	800.58	+0.074%	$28K	$1K	10x	as long as short
BloFin BNB-USDT	+0.0201%	8h	801.17	+0.148%	$18.1M	$2.6M	75x	as long as short
dYdX BNB-USD	+0.0209%	1h	800.07	+0.010%	$161K	$63K	10x	as long as short
Hibachi BNB/USDT-Pshort	+0.0224%	1h	800.58	+0.074%	$69K	$38K	12x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.15	+0.145%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0303%	1h	800.86	+0.109%	$53.2M	$20.3M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	799.81	−0.023%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0395%	1h	801.30	+0.164%	$2.7M	$5.7M	40x	as long as short