Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0331%/8h= −36.3% APRpaid last 24h −0.025%

Price spread now: HTX against RISEx−0.036%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now −0.036%, 7d avg −0.035%

Together, before fees−0.243%−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.113% in total (about -11.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BNB/USDC	788.32	0.0431	pay 0.0054% / 1h	40m 29s	$1.1M	$891K	20x
Short	HTX BNB-USDT	788.04	0.0100	get 0.0100% / 8h	3h 40m	$8.1M	$9.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against RISEx. 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 RISExbpFee HTXbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$69.58
Price spread: −0.036% → −0.035%: −$0.08
Slippage, 4 orders: −$9.13
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$96.78
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; HTX: 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 RISEx live order book, 3 min ago	1.14 bp	4.1 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	1.05 bp	11.8 bp −$12	14.6 bp −$146	42.9 bp −$4,294	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 −0.0192% / S +0.0356%	1h	787.95	−0.047%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.97	−0.045%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.25	−0.009%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.70	+0.048%	$129K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.56	+0.030%	$850K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.85	−0.060%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0032%	8h	788.49	+0.022%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.127%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0044%	8h	787.96	−0.046%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0053%	8h	788.45	+0.016%	$492.0M	$797.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0053%	8h	788.90	+0.074%	$80.0M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0062%	8h	788.40	+0.010%	$69.0M	$50.4M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.246%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	789.11	+0.100%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.21	−0.014%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.96	−0.046%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.80	−0.066%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.57	+0.032%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.16	−0.020%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.80	−0.066%	$138.6M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.90	−0.053%	$53.4M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.10	−0.028%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.90	−0.053%	$35.7M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.77	−0.070%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.66	−0.084%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.39	+0.009%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.61	−0.090%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.64	+0.040%	$4.1M	$73.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.66	+0.043%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.79	−0.067%	$130K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.08	−0.030%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.40	+0.011%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.10	−0.028%	$387K	$1.0M	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	788.04	−0.036%	$8.1M	$9.6M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	788.33	+0.001%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.58	−0.094%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.93	−0.050%	$378K	$110K	10x	as long as short
dYdX BNB-USD	+0.0115%	1h	787.86	−0.059%	$159K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0172%	8h	789.11	+0.100%	$2.9M	$28.7M	10x	as long as short
BloFin BNB-USDT	+0.0174%	8h	788.28	−0.005%	$17.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	788.73	+0.052%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	788.42	+0.013%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.40	+0.011%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	787.75	−0.072%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0400%	1h	788.06	−0.033%	$67K	$39K	12x	as long as short
RISEx BNB/USDClong	+0.0431%	1h	788.32	long leg	$1.1M	$891K	20x