Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0374%/8h= +40.9% APRpaid last 24h +0.077%

Price spread now: Hibachi against Phemex+0.008%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.567%+$57 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	787.80	0.0042	pay 0.0042% / 8h	3h 14m	$68.9M	$50.7M	50x
Short	Hibachi BNB/USDT-P	787.87	0.0416	get 0.0052% / 1h	14m 58s	$67K	$39K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Phemex. 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 PhemexbpFee HibachibpOrdersPrice spread, now +0.008%Rate

Funding earned: $78.46
Price spread: +0.008% → 0.000%: $0.84
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $58.3
Costs to cover: 0.210%
Break-even: 1.8 days

Slippage unknown: Phemex: live order book, 4 min ago; 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 Phemex live order book, 4 min ago	0.06 bp	6.3 bp −$6	6.3 bp −$63	16.9 bp −$1,686	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

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 −0.0192% / S +0.0356%	1h	787.36	−0.056%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.19	−0.078%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.90	+0.013%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.00	+0.025%	$126K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.35	+0.070%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.40	−0.050%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0022%	8h	787.98	+0.023%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.195%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0034%	8h	787.77	−0.004%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0041%	8h	788.40	+0.076%	$79.9M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0042%	8h	787.99	+0.024%	$491.1M	$801.7M	75x	as long as short
Phemex BNBUSDTlong	+0.0042%	8h	787.80	long leg	$68.9M	$50.7M	50x
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.19	−0.077%	$588K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0086%	1h	787.24	−0.071%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.76	−0.005%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.45	−0.044%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.42	−0.048%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.35	−0.057%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.79	−0.001%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.82	+0.003%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.063%	$138.5M	$73.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.063%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.025%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.35	−0.057%	$36.0M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.43	−0.047%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.08	−0.091%	$76.2M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.68	−0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.31	−0.062%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.09	+0.036%	$4.1M	$74.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.81	+0.001%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.36	−0.056%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.45	−0.044%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.05	+0.032%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	−0.051%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.58	−0.028%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.86	+0.008%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.03	−0.097%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.36	−0.056%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0162%	8h	787.87	+0.009%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0176%	8h	788.38	+0.074%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0193%	1h	788.28	+0.061%	$638K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.09	+0.037%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.80	0.000%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.10	−0.088%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-Pshort	+0.0416%	1h	787.87	+0.008%	$67K	$39K	12x
RISEx BNB/USDC	+0.0431%	1h	787.83	+0.004%	$1.1M	$893K	20x	as long as short