Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h −0.005%

Price spread now: HTX against SoDEX+0.007%7-day average −0.034% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on SoDEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.007%, 7d avg −0.034%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.041% dearer against SoDEX than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.034%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 8.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	788.50	0.0116	pay 0.0014% / 1h	48m 29s	$388K	$1.0M	10x
Short	HTX BNB-USDT	788.56	0.0100	get 0.0100% / 8h	5h 48m	$8.1M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against SoDEX. 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 SoDEXbpFee HTXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$3.32
Price spread: +0.007% → −0.034%: $4.06
Slippage, 4 orders: −$9.08
Fee SoDEX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$28.34
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from SoDEX: live order book, just now; HTX: 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 SoDEX live order book, just now	0.63 bp	4.6 bp −$5	8.2 bp −$82	79.2 bp −$7,924	doesn't fit
Sell HTX live order book, 1 min ago	1.93 bp	11.9 bp −$12	15.2 bp −$152	48.3 bp −$4,828	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	788.48	−0.003%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.48	−0.003%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.39	+0.113%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.47	−0.004%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.104%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	788.57	+0.009%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	790.27	+0.224%	$618K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0055%	8h	788.39	−0.014%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	788.90	+0.051%	$69.1M	$51.1M	50x	as long as short
MEXC BNB_USDT	+0.0071%	8h	789.20	+0.089%	$80.4M	$12.4M	200x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0071%	8h	788.81	+0.039%	$493.5M	$807.5M	75x	as long as short
Variational Omni BNB	+0.0073%	8h	789.70	+0.152%	$4.1M	$4.8M	—	as long as short
Gate BNB_USDT	+0.0086%	8h	788.05	−0.057%	$35.2M	$56.6M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.49	−0.001%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.14	−0.046%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.43	−0.009%	$381K	$380K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.30	−0.025%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.57	+0.009%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.35	−0.019%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	−0.051%	$138.4M	$77.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.00	−0.063%	$53.4M	$112.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	−0.013%	$52K	$130K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.19	−0.039%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.90	−0.076%	$76.8M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.58	+0.010%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.77	+0.161%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.95	+0.184%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.06	−0.056%	$137K	$945K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.57	+0.009%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.21	+0.090%	$12K	$1.6M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	788.56	+0.007%	$8.1M	$9.1M	75x
Paradex BNB-USD-PERP	+0.0102%	8h	788.88	+0.048%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.09	−0.052%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.41	−0.011%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.19	+0.214%	$170K	$35K	10x	as long as short
SoDEX BNB-USDlong	+0.0116%	1h	788.50	long leg	$388K	$1.0M	10x
GRVT BNB_USDT_Perp	+0.0120%	8h	790.69	+0.278%	$2.9M	$28.1M	10x	as long as short
Kalshi KXBNBPERP	+0.0180%	8h	789.20	+0.089%	$88K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0235%	1h	788.35	−0.019%	$159K	$64K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.81	+0.040%	$1.5M	$161K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	788.80	+0.038%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.94	−0.072%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0340%	1h	789.39	+0.113%	$639K	$13K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.50	−0.001%	$1.1M	$1.0M	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	788.79	+0.037%	$67K	$39K	12x	as long as short