Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.049%

Price spread now: Hyperliquid against edgeX+0.081%66s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as 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−$230.231% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 7 days−0.142%−$14 · spread now +0.081%, 7d avg −0.025%

Together, before fees−0.123%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$12 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 0.106% dearer against edgeX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.025%. The two prices were read 66 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	786.59	0.0100	pay 0.0050% / 4h	2h 18m	$4.1M	$75.5M	30x
Short	Hyperliquid BNB	787.22	0.0100	get 0.0013% / 1h	18m 13s	$51.5M	$17.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.081%Rate

Funding earned: $0
Price spread: +0.081% → −0.025%: $10.56
Slippage, 4 orders: −$5.1
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$12.54
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from edgeX: 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 edgeX live order book, 1 min ago	1.91 bp	6.4 bp −$6	6.4 bp −$64	9.7 bp −$972	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.19 bp	5.4 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 −0.0192% / S +0.0356%	1h	786.41	−0.022%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.19	+0.077%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.100%	$849K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.53	−0.007%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.353%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	787.26	+0.086%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0042%	8h	786.42	−0.021%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0055%	8h	787.13	+0.069%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	787.30	+0.091%	$80.4M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	787.10	+0.065%	$490.3M	$812.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.55	−0.005%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.093%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.81	+0.028%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.63	+0.006%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	−0.030%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	787.22	+0.081%	$51.5M	$17.6M	10x
Pacifica BNB	+0.0100%	1h	786.79	+0.026%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	−0.011%	$138.1M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.024%	$53.4M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.015%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.55	−0.004%	$36.6M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.16	−0.054%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.32	−0.034%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.17	+0.074%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.098%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	786.59	long leg	$4.1M	$75.5M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	785.20	−0.176%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.46	−0.016%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.81	+0.029%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.99	+0.052%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.31	−0.036%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.83	+0.031%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.25	−0.043%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.14	+0.070%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.33	−0.032%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0128%	1h	786.70	+0.015%	$387K	$993K	10x	as long as short
Kalshi KXBNBPERP	+0.0142%	8h	786.80	+0.027%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0161%	1h	786.37	−0.028%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0180%	8h	787.41	+0.105%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0211%	8h	785.17	−0.180%	$2.9M	$29.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.09	+0.064%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.16	+0.073%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.31	−0.035%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.151%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.74	+0.020%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	786.48	−0.013%	$67K	$39K	12x	as long as short