Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h +0.100%

Price spread now: dYdX against HTX+0.050%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.414%+$41 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now +0.050%, 7d avg +0.014%

Together, before fees+0.439%+$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.036% dearer against HTX than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of +0.014%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 hours. Mind the row above: over the last 7 days funding on this pair paid +0.414%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	792.75	0.0100	pay 0.0100% / 8h	6h 45m	$8.1M	$8.7M	75x
Short	dYdX BNB-USD	793.14	0.0039	get 0.0005% / 1h	45m 39s	$160K	$63K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$12.87
Price spread: +0.050% → +0.014%: $3.61
Slippage, 4 orders: −$42.09
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$73.35
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; dYdX: live order book, 23 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 HTX live order book, 3 min ago	1.92 bp	11.6 bp −$12	16.0 bp −$160	45.2 bp −$4,516	doesn't fit
Sell dYdX live order book, 23 min ago	14.44 bp	25.1 bp −$25	63.4 bp −$634	113.2 bp −$11.3K	148.8 bp −$74.4K

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 −0.0161% / S +0.0334%	1h	792.73	−0.002%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	792.99	+0.030%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.07	+0.041%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0017%	8h	792.65	−0.012%	$35.4M	$55.4M	75x	as long as short
StandX BNB-USD	0.0000%	1h	793.57	+0.104%	$858K	$3.0M	30x	as long as short
GRVT BNB_USDT_Perp	+0.0002%	8h	793.91	+0.146%	$3.0M	$28.4M	10x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	792.91	+0.020%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0010%	8h	792.53	−0.028%	$4.1M	$5.0M	—	as long as short
Aster BNBUSDT	+0.0033%	8h	793.35	+0.076%	$6.1M	$19.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.557%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0033%	8h	793.54	+0.100%	$69.3M	$50.3M	50x	as long as short
BingX BNB-USDC	+0.0036%	8h	793.01	+0.033%	—	$13.4M	—	as long as short
dYdX BNB-USDshort	+0.0039%	1h	793.14	+0.050%	$160K	$63K	10x
Coinbase International BNB-PERP-INTX	+0.0056%	1h	792.52	−0.029%	$608K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	793.50	+0.095%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	793.21	+0.058%	$493.5M	$815.2M	75x	as long as short
Phoenix BNB	+0.0088%	1h	792.08	−0.084%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	792.92	+0.021%	$2.8M	$3.9M	20x	as long as short
Bybit BNBUSDT	+0.0098%	8h	792.90	+0.019%	$138.2M	$77.0M	75x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	792.95	+0.025%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	792.75	0.000%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.06	+0.039%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.80	+0.007%	$53.2M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.00	+0.032%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	792.63	−0.015%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	792.51	−0.030%	$77.4M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.14	+0.050%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.99	+0.157%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	792.66	−0.011%	$112K	$887K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.19	+0.056%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.39	+0.081%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.10	+0.044%	$390K	$995K	10x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	792.75	long leg	$8.1M	$8.7M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	793.22	+0.060%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.49	−0.032%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.08	+0.042%	$381K	$110K	10x	as long as short
Hyperliquid BNB	+0.0124%	1h	793.42	+0.085%	$52.6M	$19.8M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	792.98	+0.029%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0160%	8h	793.40	+0.082%	$112K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0167%	1h	793.21	+0.058%	$644K	$10K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.06	+0.166%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	793.21	+0.058%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	792.51	−0.030%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0371%	1h	793.78	+0.130%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	793.57	+0.104%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	793.05	+0.038%	$68K	$38K	12x	as long as short