Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0043%/8h= −4.8% APRpaid last 24h −0.061%

Price spread now: KuCoin against Hyperliquid−0.152%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.151%+$15 · spread now −0.152%, 7d avg −0.039%

Together, before fees+0.103%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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 KuCoin is 0.113% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	790.05	0.0143	pay 0.0018% / 1h	59m 55s	$51.8M	$18.7M	10x
Short	KuCoin BNBUSDTM	788.85	0.0100	get 0.0100% / 8h	5h 59m	$27.8M	$10.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.152%Rate

Funding earned: −$9.13
Price spread: −0.152% → −0.039%: −$11.25
Slippage, 4 orders: −$12.43
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$53.81
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago	0.19 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	0.82 bp	9.9 bp −$10	17.5 bp −$175	46.8 bp −$4,685	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	788.73	−0.167%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	788.76	−0.163%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.47	−0.073%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.38	+0.042%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.86	−0.151%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.904%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.52	−0.067%	$6.2M	$18.9M	200x	as long as short
BingX BNB-USDT	+0.0053%	8h	789.39	−0.084%	—	$34.6M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	789.66	−0.049%	$619K	$1.8M	50x	as long as short
Variational Omni BNB	+0.0062%	8h	789.21	−0.106%	$4.1M	$4.8M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0065%	8h	789.44	−0.077%	$69.1M	$50.8M	50x	as long as short
MEXC BNB_USDT	+0.0067%	8h	789.80	−0.032%	$80.5M	$13.2M	200x	as long as short
Binance BNBUSDT	+0.0068%	8h	789.96	−0.011%	$494.5M	$812.2M	75x	as long as short
Gate BNB_USDT	+0.0069%	8h	789.30	−0.095%	$35.4M	$58.3M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.43	−0.078%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.11	−0.118%	$2.8M	$4.1M	20x	as long as short
GRVT BNB_USDT_Perp	+0.0098%	8h	790.16	+0.014%	$2.9M	$28.4M	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.86	−0.151%	$381K	$386K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.10	−0.120%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	789.37	−0.086%	$1.2M	$920K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.30	−0.095%	$138.9M	$79.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.30	−0.095%	$53.3M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.30	−0.095%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	788.85	−0.152%	$27.8M	$10.4M	75x
Bitget BNBUSDT	+0.0100%	8h	789.13	−0.116%	$77.1M	$30.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.23	+0.023%	$4.1M	$77.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.07	+0.003%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.86	−0.151%	$137K	$946K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.98	−0.135%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.61	−0.056%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.25	−0.102%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.75	−0.038%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.66	−0.176%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.82	−0.155%	$379K	$110K	10x	as long as short
SoDEX BNB-USD	+0.0118%	1h	789.00	−0.133%	$388K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0121%	1h	788.88	−0.148%	$160K	$64K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	789.33	−0.092%	$1.1M	$1.1M	20x	as long as short
Hyperliquid BNBlong	+0.0143%	1h	790.05	long leg	$51.8M	$18.7M	10x
Kalshi KXBNBPERP	+0.0178%	8h	789.30	−0.095%	$92K	$2.9M	4.8x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	789.69	−0.046%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	789.80	−0.032%	$640K	$13K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.32	−0.092%	$1.5M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.70	−0.171%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0377%	1h	789.24	−0.103%	$2.2M	$6.1M	40x	as long as short
Hibachi BNB/USDT-P	+0.0520%	1h	789.88	−0.021%	$67K	$39K	12x	as long as short