BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.014%

Price spread now: Hyperliquid against Deribit0.000%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.370%+$37 · spread now 0.000%, 7d avg +0.004%

Together, before fees+0.284%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	788.38	0.0200	pay 0.0025% / 1h	18m 12s	$1.5M	$141K	25x
Short	Hyperliquid BNB	788.38	0.0100	get 0.0013% / 1h	18m 12s	$51.7M	$17.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → +0.004%: −$0.34
Slippage, 4 orders: −$12.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$49.72
Costs to cover: 0.284%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Hyperliquid: live order book, 5 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 Deribit live order book, 1 min ago	3.74 bp	9.5 bp −$9	14.2 bp −$142	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.13 bp	4.7 bp −$5	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 −0.0166% / S +0.0336%	1h	787.57	−0.103%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.98	−0.051%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	787.96	−0.053%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	788.19	−0.024%	$3.0M	$27.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	788.10	−0.035%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.76	−0.079%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0017%	8h	788.55	+0.022%	$6.0M	$17.8M	200x	as long as short
BingX BNB-USDT	+0.0028%	8h	788.06	−0.040%	—	$22.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.120%	$19K	$789K	30x	as long as short
Binance BNBUSDT	+0.0035%	8h	788.39	+0.001%	$489.5M	$795.0M	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	+0.0035%	8h	789.60	+0.155%	$82.9M	$12.3M	200x	as long as short
Lighter BNB	+0.0096%	1h	788.06	−0.041%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.35	−0.130%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	788.38	0.000%	$51.7M	$17.4M	10x
Pacifica BNB	+0.0100%	1h	787.81	−0.073%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.90	−0.061%	$138.7M	$71.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.70	−0.086%	$53.5M	$109.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.90	−0.061%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.95	−0.054%	$39.8M	$56.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.69	−0.087%	$27.8M	$9.8M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.66	−0.091%	$75.5M	$32.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.29	−0.011%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.84	−0.069%	$4.3M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.90	−0.061%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.71	−0.085%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.39	−0.125%	$132K	$917K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.94	−0.056%	$265K	$357K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.27	−0.522%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.16	−0.028%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.10	−0.035%	$388K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.75	−0.080%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.83	−0.070%	$78K	$47K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.56	−0.104%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.92	−0.058%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0107%	8h	788.20	−0.023%	$158K	$2.6M	4.8x	as long as short
Phemex BNBUSDT	+0.0112%	8h	788.53	+0.019%	$68.6M	$51.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.14	−0.157%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	787.62	−0.096%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0141%	8h	787.98	−0.051%	$17.8M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0154%	1h	788.26	−0.015%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0200%	1h	788.38	long leg	$1.5M	$141K	25x
dYdX BNB-USD	+0.0207%	1h	787.48	−0.114%	$158K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.33	−0.006%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	787.32	−0.134%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.98	−0.050%	$1.1M	$886K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	787.80	−0.073%	$67K	$39K	12x	as long as short