Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.075%

Price spread now: Hibachi against Bitget−0.047%48s7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.476%+$48 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

Funding pays, the price is against you. Hibachi is 0.047% cheaper against Bitget than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2.0 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.476% in total) that is about 16 hours. The two prices were read 48 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	Bitget BNBUSDT	799.07	0.0100	pay 0.0100% / 8h	7h 28m	$78.8M	$27.7M	75x
Short	Hibachi BNB/USDT-P	798.70	0.0176	get 0.0022% / 1h	28m 40s	$69K	$38K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee HibachibpOrdersPrice spread, now −0.047%Rate

Funding earned: $15.96
Price spread: −0.047% → 0.000%: −$4.67
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$9.71
Costs to cover: 0.210%
Break-even: 11.3 days

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	0.06 bp	7.4 bp −$7	11.1 bp −$111	24.9 bp −$2,494	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 −0.0159% / S +0.0334%	1h	798.52	−0.069%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.29	−0.097%	$2.5M	$965K	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.83	−0.030%	$4K	$239	25x	as long as short
BingX BNB-USDC	−0.0028%	8h	799.53	+0.058%	—	$13.3M	—	as long as short
Bybit BNBUSDT	−0.0021%	8h	799.62	+0.069%	$138.9M	$75.5M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.48	+0.051%	$3.0M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.24	+0.021%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0003%	8h	798.43	−0.081%	$4.1M	$5.2M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.55	−0.065%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0019%	8h	799.07	0.000%	$69.8M	$50.3M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.753%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.73	−0.043%	$602K	$972K	50x	as long as short
Gate BNB_USDT	+0.0053%	8h	800.00	+0.116%	$35.8M	$56.2M	75x	as long as short
Aster BNBUSDT	+0.0060%	8h	800.52	+0.181%	$6.2M	$19.1M	200x	as long as short
MEXC BNB_USDT	+0.0082%	8h	800.80	+0.217%	$83.3M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0082%	8h	800.45	+0.173%	$496.7M	$808.4M	75x	as long as short
Lighter BNB	+0.0096%	1h	800.20	+0.142%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	798.91	−0.020%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.45	−0.078%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.13	+0.133%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.70	+0.079%	$54.3M	$111.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.60	+0.066%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.93	+0.108%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDTlong	+0.0100%	8h	799.07	long leg	$78.8M	$27.7M	75x
edgeX BNBUSDC	+0.0100%	4h	799.33	+0.033%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.10	+0.004%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.43	−0.080%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.46	−0.076%	$386K	$458K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.61	−0.057%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.32	+0.031%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.70	−0.046%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.75	−0.040%	$8.2M	$8.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.63	+0.195%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.48	+0.051%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.52	−0.069%	$384K	$108K	10x	as long as short
Bulk BNB-USD	+0.0127%	1h	799.69	+0.077%	$649K	$10K	10x	as long as short
Kalshi KXBNBPERP	+0.0154%	8h	799.00	−0.009%	$91K	$2.8M	4.8x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.59	−0.060%	$1.1M	$1.4M	20x	as long as short
Hibachi BNB/USDT-Pshort	+0.0176%	1h	798.70	−0.047%	$69K	$38K	12x
BloFin BNB-USDT	+0.0203%	8h	799.12	+0.006%	$18.1M	$2.6M	75x	as long as short
01 Exchange BNBUSD	+0.0208%	1h	799.07	0.000%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0231%	1h	799.67	+0.075%	$161K	$63K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.00	−0.009%	$1.6M	$160K	25x	as long as short
Hyperliquid BNB	+0.0310%	1h	800.85	+0.223%	$53.2M	$20.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.16	−0.114%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0391%	1h	799.31	+0.030%	$2.7M	$5.6M	40x	as long as short