Funding you earn now, next payment 09:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h +0.048%
Price spread now: Hyperliquid against Phemex−0.014%7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$270.270% of the position
Funding, last 7 days+0.114%+$11 on $10k
+Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.014%, 7d avg −0.021%
=Together, before fees+0.173%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.114%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BNBUSDT | 786.87 | 0.0198 | pay 0.0198% / 8h | 7h 53m | $68.6M | $51.1M | 50x |
| Short | Hyperliquid BNB | 786.76 | 0.0100 | get 0.0013% / 1h | 53m 16s | $51.6M | $17.5M | 10x |
Phemex BNBUSDT
Hyperliquid BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phemex. 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
- −$20.67
- Price spread: −0.014% → −0.021%
- $0.68
- Slippage, 4 orders
- −$6.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$47.02
- Costs to cover
- 0.270%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; Hyperliquid: live order book, 10 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 Phemex live order book, 6 min ago | 0.06 bp | 6.2 bp −$6 | 6.2 bp −$62 | 12.1 bp −$1,209 | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 0.06 bp | 5.2 bp −$5 | 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 −0.0168% / S +0.0337% | 1h | 786.15 | −0.091% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 786.16 | −0.090% | $4K | — | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0021% | 1h | 786.25 | −0.078% | $2.5M | $1.2M | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 785.91 | −0.123% | $3.0M | $27.6M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.07 | +0.025% | $849K | $2.7M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 785.79 | −0.138% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0029% | 8h | 786.75 | −0.015% | $6.0M | $18.5M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.316% | $19K | $789K | 30x | as long as short |
| dYdX BNB-USD | +0.0036% | 1h | 785.65 | −0.154% | $159K | $62K | 10x | as long as short |
| BingX BNB-USDC | +0.0037% | 8h | 786.19 | −0.086% | — | $13.4M | — | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
Injective BNB/USDC PERP
dYdX BNB-USD
BingX BNB-USDCShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BNB_USDT | +0.0045% | 8h | 787.60 | +0.093% | $81.8M | $12.1M | 200x | as long as short |
| Binance BNBUSDT | +0.0045% | 8h | 786.83 | −0.005% | $489.4M | $812.7M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.46 | −0.052% | $2.7M | $3.6M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 785.85 | −0.130% | $1.4M | $2.6M | 20x | as long as short |
| Hyperliquid BNBshort | +0.0100% | 1h | 786.76 | −0.014% | $51.6M | $17.5M | 10x | |
| Pacifica BNB | +0.0100% | 1h | 786.22 | −0.083% | $1.2M | $937K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 786.14 | −0.093% | $138.5M | $73.4M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.20 | −0.085% | $53.5M | $111.6M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.30 | −0.072% | $52K | $125K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.35 | −0.066% | $39.0M | $55.4M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 785.79 | −0.137% | $27.7M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.90 | −0.123% | $75.4M | $32.6M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 786.31 | −0.071% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 785.82 | −0.133% | $4.1M | $4.7M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 785.95 | −0.117% | $4.1M | $76.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 785.57 | −0.165% | $158K | $439K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.30 | −0.072% | $131K | $942K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 786.38 | −0.062% | $264K | $358K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 786.49 | −0.048% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.64 | −0.029% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.40 | −0.060% | $387K | $952K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.35 | −0.066% | $8.0M | $10.3M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 786.51 | −0.045% | $78K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.95 | −0.117% | $1.8M | $5.8M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.38 | −0.062% | $378K | $110K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0110% | 8h | 786.80 | −0.009% | $171K | $2.6M | 4.8x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0120% | 1h | 786.59 | −0.036% | $548K | $1.9M | 50x | as long as short |
| Phoenix BNB | +0.0120% | 1h | 786.53 | −0.043% | $158K | $38K | 10x | as long as short |
| BloFin BNB-USDT | +0.0165% | 8h | 786.74 | −0.017% | $17.9M | $2.2M | 75x | as long as short |
| Phemex BNBUSDTlong | +0.0198% | 8h | 786.87 | long leg | $68.6M | $51.1M | 50x | |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 786.83 | −0.005% | $1.5M | $141K | 25x | as long as short |
| Bulk BNB-USD | +0.0208% | 1h | 785.85 | −0.129% | $637K | $831 | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0240% | 1h | 786.64 | −0.029% | $28K | $3K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0320% | 1h | 785.91 | −0.122% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0355% | 1h | 786.37 | −0.064% | $1.1M | $911K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0432% | 1h | 785.96 | −0.116% | $67K | $39K | 12x | as long as short |
MEXC BNB_USDT
Binance 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
Kalshi KXBNBPERP
Coinbase International BNB-PERP-INTX
Phoenix BNB
BloFin BNB-USDT
Deribit BNB_USDC-PERPETUAL
Bulk BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P