Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.053%

Price spread now: Hyperliquid against OKX+0.096%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 7 days−0.073%−$7 · spread now +0.096%, 7d avg +0.047%

Together, before fees−0.004%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.049% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	789.10	0.0100	pay 0.0100% / 8h	4h 44m	$53.4M	$111.2M	50x
Short	Hyperliquid BNB	789.86	0.0100	get 0.0013% / 1h	44m 55s	$51.8M	$17.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → +0.047%: $4.92
Slippage, 4 orders: −$4.17
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$18.25
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Hyperliquid: live order book, 9 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 OKX live order book, 4 min ago	0.63 bp	5.6 bp −$6	7.6 bp −$76	21.1 bp −$2,111	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.32 bp	6.1 bp −$6	doesn't fit	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 −0.0184% / S +0.0349%	1h	789.21	+0.014%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.19	+0.011%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.70	+0.076%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.15	+0.007%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.026%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	789.86	+0.096%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	789.34	+0.030%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.195%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.10	+0.127%	$80.2M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	789.89	+0.100%	$492.8M	$789.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0076%	8h	789.80	+0.089%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.36	+0.034%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.34	+0.030%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.75	−0.044%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	789.86	+0.096%	$51.8M	$17.5M	10x
Pacifica BNB	+0.0100%	1h	789.27	+0.021%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.00	−0.013%	$138.7M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	789.10	long leg	$53.4M	$111.2M	50x
Arcus BNB-USD	+0.0100%	1h	789.30	+0.025%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.10	0.000%	$35.4M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.13	+0.004%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.02	−0.010%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.70	+0.076%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.50	−0.076%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.10	0.000%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.58	+0.061%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.09	−0.001%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.36	+0.033%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.88	+0.098%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.30	+0.025%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.84	−0.033%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.81	+0.090%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.84	−0.032%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.34	+0.031%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0115%	1h	789.05	−0.006%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.31	+0.027%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0134%	8h	789.57	+0.060%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0182%	8h	789.60	+0.063%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	789.81	+0.090%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.74	+0.081%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.05	−0.006%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.322%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.74	+0.080%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.81	−0.037%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.47	+0.048%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0512%	1h	788.97	−0.017%	$67K	$38K	12x	as long as short