Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.02 per $10,000 · paid last 24h −0.056%
Price spread now: Coinbase International against Hyperliquid+0.081%7-day average −0.058% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$260.260% of the position
Funding, last 7 days−0.128%−$13 on $10k
+Price spread, last 4 days (all we have)−0.263%−$26 · spread now +0.081%, 7d avg −0.058%
=Together, before fees−0.391%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.139% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of −0.058%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 23 days. At the pace of the last 7 days (−0.128% in total) that is about 7.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BNB | 786.24 | 0.0100 | pay 0.0013% / 1h | 36m 09s | $51.5M | $17.6M | 10x |
| Short | Coinbase International BNB-PERP-INTX | 786.88 | 0.0080 | get 0.0010% / 1h | 36m 09s | $568K | $1.9M | 50x |
Hyperliquid BNB
Coinbase International BNB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$4.2
- Price spread: +0.081% → −0.058%
- $13.9
- Slippage, 4 orders
- −$7.01
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$16.31
- Costs to cover
- 0.260%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Coinbase International: 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, 7 min ago | 0.70 bp | 5.2 bp −$5 | 7.0 bp −$70 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 1.08 bp | 6.1 bp −$6 | 13.0 bp −$130 | 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 −0.0170% / S +0.0337% | 1h | 785.69 | −0.070% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 786.45 | +0.026% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 786.90 | +0.084% | $849K | $2.8M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 785.72 | −0.066% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.397% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0049% | 8h | 786.33 | +0.011% | $6.0M | $18.9M | 200x | as long as short |
| BingX BNB-USDC | +0.0053% | 8h | 785.71 | −0.068% | — | $13.4M | — | as long as short |
| MEXC BNB_USDT | +0.0064% | 8h | 787.00 | +0.096% | $81.0M | $12.0M | 200x | as long as short |
| Binance BNBUSDT | +0.0064% | 8h | 786.33 | +0.010% | $489.9M | $814.9M | 75x | as long as short |
| dYdX BNB-USD | +0.0066% | 1h | 785.68 | −0.072% | $159K | $62K | 10x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDC
MEXC BNB_USDT
Binance BNBUSDT
dYdX BNB-USDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0076% | 8h | 786.33 | +0.011% | $68.8M | $51.0M | 50x | as long as short |
| Coinbase International BNB-PERP-INTXshort | +0.0080% | 1h | 786.88 | +0.081% | $568K | $1.9M | 50x | |
| Lighter BNB | +0.0096% | 1h | 785.93 | −0.040% | $2.7M | $3.8M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 785.75 | −0.063% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNBlong | +0.0100% | 1h | 786.24 | long leg | $51.5M | $17.6M | 10x | |
| Pacifica BNB | +0.0100% | 1h | 786.13 | −0.014% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 785.68 | −0.072% | $138.3M | $75.2M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 785.60 | −0.082% | $53.4M | $112.9M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.10 | −0.018% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 785.70 | −0.069% | $37.2M | $58.9M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 785.47 | −0.098% | $27.6M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.64 | −0.077% | $76.1M | $31.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 786.35 | +0.014% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 785.91 | −0.042% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 786.30 | +0.007% | $4.1M | $75.9M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 786.60 | +0.045% | $158K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 785.68 | −0.072% | $131K | $949K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 785.81 | −0.055% | $264K | $470K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 786.14 | −0.013% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.42 | +0.022% | $13K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 785.90 | −0.044% | $386K | $983K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 785.79 | −0.058% | $8.0M | $10.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 786.57 | +0.042% | $78K | $18K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.41 | −0.106% | $1.8M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 785.83 | −0.052% | $377K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0135% | 1h | 786.77 | +0.067% | $169K | $35K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0137% | 8h | 786.30 | +0.007% | $171K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0184% | 8h | 786.49 | +0.031% | $17.7M | $2.2M | 75x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0206% | 1h | 785.65 | −0.076% | $2.5M | $1.2M | 50x | as long as short |
| GRVT BNB_USDT_Perp | +0.0229% | 8h | 787.18 | +0.119% | $2.9M | $29.5M | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0248% | 1h | 786.34 | +0.012% | $28K | $4K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 786.24 | −0.001% | $1.5M | $143K | 25x | as long as short |
| Bulk BNB-USD | +0.0305% | 1h | 787.08 | +0.107% | $638K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0322% | 1h | 785.31 | −0.119% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0438% | 1h | 786.00 | −0.031% | $1.1M | $913K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0544% | 1h | 786.36 | +0.015% | $67K | $39K | 12x | as long as short |
Phemex BNBUSDT
Lighter BNB
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Kalshi KXBNBPERP
BloFin BNB-USDT
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
01 Exchange BNBUSD
Deribit BNB_USDC-PERPETUAL
Bulk BNB-USD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P