Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: KuCoin against Hotstuff−0.050%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on KuCoin

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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.050% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 22 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	787.53	−0.0080	get 0.0010% / 1h	49m 20s	$4K	$42	25x
Short	KuCoin BNBUSDTM	787.14	0.0100	get 0.0100% / 8h	2h 49m	$27.6M	$10.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hotstuff. 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 HotstuffbpFee KuCoinbpOrdersPrice spread, now −0.050%Rate

Funding earned: $37.8
Price spread: −0.050% → 0.000%: −$4.95
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $15.85
Costs to cover: 0.170%
Break-even: 4.1 days

Slippage unknown: Hotstuff: no order-book sample; KuCoin: live order book, 5 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	0.83 bp	11.0 bp −$11	22.9 bp −$229	50.4 bp −$5,043	doesn't fit

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 −0.0192% / S +0.0356%	1h	787.26	−0.034%	$46K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	787.53	long leg	$4K	$42	25x
StandX BNB-USD	0.0000%	1h	788.28	+0.095%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.28	−0.031%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	787.96	+0.055%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.230%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0039%	8h	787.46	−0.009%	—	$22.2M	—	as long as short
MEXC BNB_USDT	+0.0050%	8h	788.30	+0.098%	$79.9M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	788.02	+0.062%	$490.9M	$804.5M	75x	as long as short
Phemex BNBUSDT	+0.0055%	8h	787.59	+0.008%	$68.9M	$50.8M	50x	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	787.29	−0.031%	$2.5M	$1.2M	50x	as long as short
dYdX BNB-USD	+0.0071%	1h	787.06	−0.060%	$159K	$61K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	−0.009%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.40	−0.017%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.33	−0.025%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.036%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.97	+0.056%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.49	−0.004%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.29	−0.030%	$138.3M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.029%	$53.4M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	−0.017%	$52K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.30	−0.029%	$36.1M	$57.8M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	787.14	−0.050%	$27.6M	$10.3M	75x
Bitget BNBUSDT	+0.0100%	8h	786.99	−0.069%	$76.2M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.39	−0.018%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.11	−0.053%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.81	+0.036%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.86	+0.042%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.25	−0.036%	$132K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.50	−0.004%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.93	+0.051%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.10	−0.055%	$8.1M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.70	+0.022%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.04	−0.063%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.37	−0.021%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.34	−0.024%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0119%	1h	787.50	−0.004%	$387K	$997K	10x	as long as short
Kalshi KXBNBPERP	+0.0131%	8h	787.90	+0.047%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0171%	8h	787.85	+0.041%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0198%	8h	788.06	+0.067%	$2.9M	$29.2M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.78	+0.032%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.081%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	787.92	+0.050%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.10	−0.054%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	787.58	+0.006%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	787.74	+0.027%	$67K	$39K	12x	as long as short