Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.074%

Price spread now: Hibachi against Orderly+0.055%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.458%+$46 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hibachi is 0.055% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BNB_USDC	788.76	0.0100	pay 0.0100% / 8h	4h 14m	$265K	$492K	50x
Short	Hibachi BNB/USDT-P	789.19	0.0384	get 0.0048% / 1h	14m 14s	$67K	$38K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Orderly. 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 OrderlybpFee HibachibpOrdersPrice spread, now +0.055%Rate

Funding earned: $59.65
Price spread: +0.055% → 0.000%: $5.45
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $50.1
Costs to cover: 0.150%
Break-even: 1.1 days

Slippage unknown: Orderly: no order-book sample; Hibachi: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Hibachi no order-book sample	—	—	—	—	—

Orderly and Hibachi: 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 −0.0188% / S +0.0352%	1h	788.55	−0.027%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.20	+0.056%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.06	+0.038%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.62	−0.018%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.070%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	789.33	+0.073%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0050%	8h	789.01	+0.032%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0057%	8h	789.38	+0.079%	$69.0M	$50.0M	50x	as long as short
Binance BNBUSDT	+0.0060%	8h	789.30	+0.069%	$492.6M	$789.8M	75x	as long as short
MEXC BNB_USDT	+0.0060%	8h	789.70	+0.119%	$80.1M	$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
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.087%	$582K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.94	+0.022%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDClong	+0.0100%	8h	788.76	long leg	$265K	$492K	50x
Nado BNB-PERP	+0.0100%	1h	788.75	−0.001%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.32	+0.071%	$51.8M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.00	+0.030%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.59	−0.022%	$138.7M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.70	−0.008%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	+0.030%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.75	−0.001%	$35.5M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.58	−0.023%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.45	−0.039%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.45	+0.087%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.31	−0.057%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.65	+0.113%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.38	+0.079%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.60	−0.020%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.81	+0.006%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.42	+0.084%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.90	+0.018%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.63	−0.016%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.17	+0.052%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.34	−0.054%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.77	+0.001%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.14	+0.048%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0121%	1h	788.65	−0.014%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0152%	8h	789.95	+0.151%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	789.30	+0.068%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0180%	8h	789.62	+0.109%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	789.05	+0.037%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.24	+0.061%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.66	−0.012%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.17	+0.052%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.40	−0.045%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-Pshort	+0.0384%	1h	789.19	+0.055%	$67K	$38K	12x
RISEx BNB/USDC	+0.0461%	1h	789.09	+0.042%	$1.1M	$967K	20x	as long as short