Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h −0.085%

Price spread now: HTX against dYdX−0.020%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$580.582% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.419%−$42 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.020%, 7d avg −0.014%

Together, before fees−0.475%−$47 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.419%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	787.95	0.0066	pay 0.0008% / 1h	16m 45s	$160K	$62K	10x
Short	HTX BNB-USDT	787.80	0.0100	get 0.0100% / 8h	1h 16m	$8.0M	$10.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $7.18
Price spread: −0.020% → −0.014%: −$0.58
Slippage, 4 orders: −$36.25
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$51.64
Costs to cover: 0.582%
Break-even: 57.3 days

Slippage from dYdX: live order book, 27 min ago; HTX: live order book, 2 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 dYdX live order book, 27 min ago	11.56 bp	21.1 bp −$21	41.5 bp −$415	70.2 bp −$7,015	274.3 bp −$137.2K
Sell HTX live order book, 2 min ago	1.42 bp	10.0 bp −$10	14.8 bp −$148	47.3 bp −$4,733	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 −0.0170% / S +0.0337%	1h	787.40	−0.070%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.91	−0.006%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.38	+0.054%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.47	−0.061%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.175%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0051%	8h	788.31	+0.046%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.78	−0.022%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0062%	8h	788.17	+0.027%	$490.9M	$820.7M	75x	as long as short
MEXC BNB_USDT	+0.0062%	8h	788.90	+0.120%	$81.1M	$12.1M	200x	as long as short
dYdX BNB-USDlong	+0.0066%	1h	787.95	long leg	$160K	$62K	10x

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.09	+0.017%	$68.9M	$51.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.083%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.70	−0.032%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.089%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.28	+0.041%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.69	−0.034%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.60	−0.045%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.50	−0.058%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.045%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.75	−0.026%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.43	−0.066%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.41	−0.069%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.11	+0.020%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.069%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.95	0.000%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	+0.030%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.34	−0.078%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.48	−0.060%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.99	+0.004%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.045%	$387K	$979K	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	787.80	−0.020%	$8.0M	$10.2M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	787.96	0.000%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.33	−0.079%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.51	−0.056%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0125%	8h	787.90	−0.007%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	−0.032%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	788.16	+0.026%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.88	−0.010%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.50	−0.057%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.28	+0.041%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.98	+0.003%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.046%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.12	−0.105%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.65	−0.038%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	787.77	−0.023%	$67K	$39K	12x	as long as short