Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against edgeX−0.076%58s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · Hotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.076% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 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	edgeX BNBUSDC	790.26	0.0100	pay 0.0050% / 4h	3h 50m	$4.1M	$73.5M	30x
Short	Hotstuff BNB-PERP	789.66	−0.0080	pay 0.0010% / 1h	50m 02s	$4K	$42	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against edgeX. 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 edgeXbpFee HotstuffbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$37.8
Price spread: −0.076% → 0.000%: −$7.58
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$59.38
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 4 min ago; Hotstuff: 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 edgeX live order book, 4 min ago	1.90 bp	6.4 bp −$6	6.4 bp −$64	10.0 bp −$1,000	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 −0.0191% / S +0.0355%	1h	788.82	−0.182%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.89	−0.173%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERPshort	−0.0080%	1h	789.66	−0.076%	$4K	$42	25x
Kalshi KXBNBPERP	0.0000%	8h	789.50	−0.096%	$135K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	790.39	+0.017%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.89	−0.174%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.877%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	789.32	−0.119%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	789.59	−0.085%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0056%	8h	789.43	−0.105%	$493.1M	$795.3M	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	+0.0056%	8h	789.90	−0.045%	$80.1M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.41	−0.107%	$69.0M	$50.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	0.000%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	+0.018%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.22	−0.132%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.79	−0.186%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.05	−0.153%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.52	−0.093%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.22	−0.131%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.90	−0.172%	$138.8M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.80	−0.185%	$53.4M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.10	−0.147%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.05	−0.153%	$35.8M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.71	−0.196%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.53	−0.219%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.42	−0.106%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.120%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	790.26	long leg	$4.1M	$73.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	790.15	−0.014%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.76	−0.190%	$130K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.92	−0.169%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.50	−0.096%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.00	−0.159%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.27	−0.126%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.27	−0.125%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.58	−0.212%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.78	−0.187%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0116%	1h	789.27	−0.126%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0169%	8h	790.73	+0.060%	$3.0M	$28.6M	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	789.73	−0.067%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	790.66	+0.051%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.57	−0.087%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.24	−0.129%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.66	−0.203%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0384%	1h	789.79	−0.060%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	789.37	−0.113%	$1.1M	$892K	20x	as long as short