Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.061%

Price spread now: Hyperliquid against ApeX Omni+0.125%85s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.300% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.542%−$54 · spread now +0.125%, 7d avg −0.025%

Together, before fees−0.526%+ Points / potential airdropHyperliquid: Season 2 · farm board−$53 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.149% dearer against ApeX Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.025%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	794.74	0.0100	pay 0.0013% / 1h	24m 06s	$160K	$436K	50x
Short	Hyperliquid BNB	795.73	0.0100	get 0.0013% / 1h	24m 06s	$52.1M	$19.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against ApeX Omni. 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 ApeX OmnibpFee HyperliquidbpOrdersPrice spread, now +0.125%Rate

Funding earned: $0
Price spread: +0.125% → −0.025%: $14.92
Slippage, 4 orders: −$11.04
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$15.12
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 43 min ago; Hyperliquid: live order book, 9 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 ApeX Omni live order book, 43 min ago	1.50 bp	7.3 bp −$7	29.3 bp −$293	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.06 bp	4.8 bp −$5	6.9 bp −$69	doesn't fit	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	794.88	+0.017%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0131%	1h	795.01	+0.033%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	795.33	+0.074%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	796.25	+0.190%	$860K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.94	+0.025%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	795.62	+0.111%	$4.1M	$4.8M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.302%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	795.70	+0.120%	$6.1M	$19.7M	200x	as long as short
Gate BNB_USDT	+0.0049%	8h	794.95	+0.026%	$35.4M	$56.3M	75x	as long as short
BingX BNB-USDC	+0.0050%	8h	795.50	+0.096%	—	$13.4M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0054%	8h	795.60	+0.108%	$69.6M	$50.8M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.099%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	795.90	+0.146%	$82.6M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	795.66	+0.116%	$495.1M	$810.4M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0064%	8h	795.99	+0.158%	$3.0M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0072%	1h	795.36	+0.078%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	795.80	+0.133%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	795.28	+0.068%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.94	+0.025%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	795.20	+0.058%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	795.73	+0.125%	$52.1M	$19.3M	10x
Pacifica BNB	+0.0100%	1h	795.38	+0.080%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	795.11	+0.047%	$139.0M	$75.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	794.90	+0.020%	$53.3M	$110.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	795.30	+0.070%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	794.77	+0.004%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	794.93	+0.024%	$77.4M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	795.83	+0.137%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	794.74	long leg	$160K	$436K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	794.88	+0.018%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	795.11	+0.046%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	795.36	+0.078%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	795.10	+0.045%	$391K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	795.34	+0.075%	$8.2M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	795.61	+0.110%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	794.64	−0.012%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	795.15	+0.052%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	795.25	+0.064%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	795.40	+0.083%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0195%	1h	795.93	+0.149%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	795.49	+0.094%	$28K	$2K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	795.47	+0.092%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	794.72	−0.003%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0381%	1h	795.86	+0.141%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	795.94	+0.150%	$68K	$38K	12x	as long as short