Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.041%

Price spread now: Hyperliquid against SoDEX+0.048%7-day average +0.029% · 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−$18as in the Price arb table

costs, in and out, $10k−$200.196% of the position

Long on SoDEX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.357%+$36 · spread now +0.048%, 7d avg +0.029%

Together, before fees+0.408%+ Points / potential airdropHyperliquid: Season 2 · farm board+$41 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	785.80	0.0100	pay 0.0013% / 1h	35m 50s	$386K	$943K	10x
Short	Hyperliquid BNB	786.18	0.0100	get 0.0013% / 1h	35m 50s	$51.6M	$17.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0
Price spread: +0.048% → +0.029%: $1.97
Slippage, 4 orders: −$2.58
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$17.61
Costs to cover: 0.196%
Break-even: never at this rate

Slippage from SoDEX: live order book, 8 min ago; Hyperliquid: live order book, 8 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, 8 min ago	0.64 bp	4.6 bp −$5	8.3 bp −$83	71.6 bp −$7,157	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.06 bp	5.6 bp −$6	doesn't fit	doesn't fit	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 −0.0168% / S +0.0337%	1h	785.38	−0.054%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.37	+0.073%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	785.73	−0.009%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	786.12	+0.041%	$2.9M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.71	+0.116%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.38	−0.053%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0023%	8h	786.06	+0.033%	$6.0M	$18.4M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.455%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0035%	8h	785.79	−0.001%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0039%	8h	787.10	+0.165%	$82.4M	$12.2M	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	+0.0040%	8h	786.03	+0.029%	$488.7M	$812.3M	75x	as long as short
Lighter BNB	+0.0096%	1h	785.75	−0.007%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.35	−0.057%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	786.18	+0.048%	$51.6M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	785.81	+0.001%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.40	−0.051%	$138.3M	$73.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.40	−0.051%	$53.4M	$110.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.70	−0.013%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.55	−0.032%	$39.3M	$55.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.20	−0.076%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.24	−0.071%	$75.3M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.09	+0.037%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.32	−0.061%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.98	+0.023%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.12	+0.041%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.54	−0.033%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.54	−0.033%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.63	−0.021%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.96	+0.020%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USDlong	+0.0100%	1h	785.80	long leg	$386K	$943K	10x
HTX BNB-USDT	+0.0100%	8h	785.69	−0.015%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.09	+0.038%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.24	−0.071%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.53	−0.034%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	786.00	+0.025%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	+0.101%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.32	+0.066%	$158K	$38K	10x	as long as short
dYdX BNB-USD	+0.0128%	1h	785.69	−0.013%	$157K	$64K	10x	as long as short
Phemex BNBUSDT	+0.0143%	8h	786.29	+0.062%	$68.5M	$51.1M	50x	as long as short
BloFin BNB-USDT	+0.0158%	8h	786.34	+0.069%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.96	+0.020%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	785.97	+0.022%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	785.89	+0.011%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.26	−0.069%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	785.63	−0.022%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	786.13	+0.042%	$67K	$39K	12x	as long as short