Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h −0.015%

Price spread now: BloFin against Hyperliquid+0.019%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 3 days (all we have)−0.095%−$9 · spread now +0.019%, 7d avg +0.045%

Together, before fees+0.048%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.026% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.045%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, 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	Hyperliquid BNB	803.28	0.0272	pay 0.0034% / 1h	50m 59s	$52.0M	$21.3M	10x
Short	BloFin BNB-USDT	803.43	0.0245	get 0.0245% / 8h	50m 59s	$18.2M	$2.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$5.67
Price spread: +0.019% → +0.045%: −$2.62
Slippage, 4 orders: −$3.17
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.45
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; BloFin: live order book, 3 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, 12 min ago	0.25 bp	5.9 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.19 bp	6.2 bp −$6	7.9 bp −$79	18.0 bp −$1,801	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	802.50	−0.097%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.16	−0.015%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.37	−0.113%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.91	−0.047%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.34	+0.007%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.54	−0.091%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.204%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0053%	8h	802.60	−0.085%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.34	−0.117%	$139.4M	$78.7M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.319%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	802.80	−0.060%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.20	−0.134%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.92	−0.045%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.50	−0.097%	$54.7M	$113.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	−0.035%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.45	−0.103%	$35.9M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.38	−0.112%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.08	−0.149%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.03	−0.031%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.26	−0.002%	$162K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.45	−0.103%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.58	−0.087%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.74	−0.067%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.14	−0.018%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.85	−0.054%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.21	−0.009%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	802.04	−0.154%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.75	−0.066%	$386K	$40K	10x	as long as short
Aster BNBUSDT	+0.0104%	8h	803.14	−0.017%	$6.3M	$19.0M	200x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	803.10	−0.022%	$109K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0116%	8h	803.15	−0.016%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0125%	8h	803.30	+0.002%	$83.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.26	−0.002%	$502.5M	$818.4M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.21	−0.009%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0176%	1h	802.70	−0.072%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	803.00	−0.035%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.67	−0.076%	$71K	$49K	12x	as long as short
BloFin BNB-USDTshort	+0.0245%	8h	803.43	+0.019%	$18.2M	$2.6M	75x
RISEx BNB/USDC	+0.0258%	1h	802.79	−0.061%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNBlong	+0.0272%	1h	803.28	long leg	$52.0M	$21.3M	10x
Bulk BNB-USD	+0.0289%	1h	801.15	−0.265%	$651K	$20K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.225%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0316%	1h	803.30	+0.002%	$2.7M	$5.7M	40x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	802.08	−0.150%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0416%	1h	803.25	−0.004%	$28K	$2K	10x	as long as short
dYdX BNB-USD	+0.0505%	1h	802.89	−0.049%	$162K	$62K	10x	as long as short