Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.048%

Price spread now: Binance against Hyperliquid−0.032%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days+0.121%+$12 · spread now −0.032%, 7d avg +0.063%

Together, before fees+0.047%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.096% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	807.64	0.0226	pay 0.0028% / 1h	38m 23s	$52.0M	$21.8M	10x
Short	Binance BNBUSDT	807.38	0.0122	get 0.0122% / 8h	1h 38m	$521.2M	$803.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.032%Rate

Funding earned: −$21.72
Price spread: −0.032% → +0.063%: −$9.57
Slippage, 4 orders: −$3.03
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$53.32
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Binance: live order book, 6 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 Hyperliquid live order book, 5 min ago	0.68 bp	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.06 bp	5.4 bp −$5	6.7 bp −$67	16.0 bp −$1,596	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 −0.0201% / S +0.0372%	1h	806.68	−0.119%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.83	−0.100%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	807.25	−0.048%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	807.30	−0.042%	$106K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.95	−0.085%	$872K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.75	−0.110%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0044%	8h	806.56	−0.134%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0059%	8h	806.77	−0.108%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	806.34	−0.161%	$139.7M	$81.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	806.67	−0.120%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi BNB/USDT-P	+0.0096%	1h	807.09	−0.068%	$72K	$48K	12x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	−0.260%	$608K	$881K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.25	−0.172%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	806.62	−0.127%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	806.60	−0.129%	$55.1M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.90	−0.092%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	806.55	−0.135%	$36.1M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	806.47	−0.145%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	806.08	−0.193%	$78.8M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	807.43	−0.026%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	807.11	−0.066%	$162K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.62	−0.126%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.68	−0.119%	$390K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.52	−0.138%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.97	−0.084%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.57	−0.133%	$8.2M	$7.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.10	−0.067%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	806.18	−0.181%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.52	−0.139%	$387K	$40K	10x	as long as short
Aster BNBUSDT	+0.0107%	8h	807.25	−0.048%	$6.4M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0121%	8h	807.80	+0.020%	$84.8M	$13.4M	200x	as long as short
Binance BNBUSDTshort	+0.0122%	8h	807.38	−0.032%	$521.2M	$803.7M	75x
Phemex BNBUSDT	+0.0133%	8h	806.87	−0.095%	$70.4M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	807.20	−0.054%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0184%	1h	806.40	−0.154%	$397K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0193%	1h	806.57	−0.132%	$163K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	806.38	−0.156%	$2.5M	$929K	50x	as long as short
Hyperliquid BNBlong	+0.0226%	1h	807.64	long leg	$52.0M	$21.8M	10x
BloFin BNB-USDT	+0.0242%	8h	806.92	−0.089%	$18.8M	$2.6M	75x	as long as short
Bulk BNB-USD	+0.0295%	1h	807.66	+0.002%	$652K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	806.73	−0.113%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.316%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	806.79	−0.105%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	806.33	−0.162%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0360%	1h	807.29	−0.043%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0699%	1h	807.41	−0.028%	$3.0M	$5.5M	40x	as long as short