Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.001%

Price spread now: HTX against Injective−1.849%7-day average +0.270% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 4 days (all we have)+2.214%+$221 · spread now −1.849%, 7d avg +0.270%

Together, before fees+2.412%+$241 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 2.119% cheaper against Injective than usual: you would sell low and buy high (spread −1.849% now, against its 7-day average of +0.270%). If the spread goes back, that is −$212 on $10k: about 4 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0033	pay 0.0004% / 1h	30m 40s	$19K	$789K	30x
Short	HTX BNB-USDT	790.21	0.0100	get 0.0100% / 8h	5h 30m	$8.1M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now −1.849%Rate

Funding earned: $14
Price spread: −1.849% → +0.270%: −$211.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$209.91
Costs to cover: 0.120%
Break-even: 112.0 days

Slippage unknown: Injective: no order-book sample; HTX: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell HTX live order book, 3 min ago	0.67 bp	7.1 bp −$7	12.0 bp −$120	46.0 bp −$4,597	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0167% / S +0.0335%	1h	790.58	−1.803%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.79	−1.776%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.72	−1.785%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	790.56	−1.805%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERPlong	+0.0033%	1h	805.09	long leg	$19K	$789K	30x
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.79	−1.900%	$617K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	791.61	−1.674%	$6.3M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0059%	8h	791.08	−1.740%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0071%	8h	791.34	−1.708%	$69.3M	$51.1M	50x	as long as short
MEXC BNB_USDT	+0.0075%	8h	791.80	−1.651%	$80.4M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0076%	8h	791.48	−1.690%	$494.8M	$803.4M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	790.85	−1.768%	$2.5M	$1.2M	50x	as long as short
Variational Omni BNB	+0.0096%	8h	790.49	−1.814%	$4.1M	$4.6M	—	as long as short
Lighter BNB	+0.0096%	1h	791.13	−1.734%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.83	−1.771%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.75	−1.781%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.52	−1.686%	$51.9M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.09	−1.739%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.80	−1.775%	$139.1M	$77.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.70	−1.787%	$53.6M	$112.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.10	−1.738%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.80	−1.775%	$35.4M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.72	−1.785%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	790.64	−1.795%	$77.0M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.12	−1.735%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.40	−1.825%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.01	−1.873%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.67	−1.791%	$136K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.00	−1.750%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.45	−1.695%	$12K	$1.6M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	790.21	−1.849%	$8.1M	$9.1M	75x
Paradex BNB-USD-PERP	+0.0103%	8h	791.60	−1.675%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.52	−1.809%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.83	−1.771%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.19	−1.851%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0138%	1h	790.90	−1.763%	$389K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0140%	8h	790.55	−1.806%	$2.9M	$28.2M	10x	as long as short
Kalshi KXBNBPERP	+0.0193%	8h	791.20	−1.725%	$91K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	791.32	−1.710%	$18.1M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0234%	1h	790.32	−1.834%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	791.37	−1.704%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.49	−1.813%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.28	−1.715%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0383%	1h	789.79	−1.900%	$640K	$6K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	791.24	−1.720%	$1.5M	$147K	25x	as long as short
Hibachi BNB/USDT-P	+0.0592%	1h	790.51	−1.811%	$68K	$38K	12x	as long as short