Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.004%

Price spread now: HTX against SoDEX−0.011%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on SoDEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now −0.011%, 7d avg −0.032%

Together, before fees−0.086%−$9 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: HTX is 0.021% dearer against SoDEX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	786.70	0.0102	pay 0.0013% / 1h	44m 26s	$387K	$997K	10x
Short	HTX BNB-USDT	786.61	0.0100	get 0.0100% / 8h	2h 44m	$8.1M	$9.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against SoDEX. 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 SoDEXbpFee HTXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$0.35
Price spread: −0.011% → −0.032%: $2.07
Slippage, 4 orders: −$8.62
Fee SoDEX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$26.9
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from SoDEX: live order book, 14 min ago; HTX: live order book, 5 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 SoDEX live order book, 14 min ago	0.64 bp	5.3 bp −$5	9.0 bp −$90	85.3 bp −$8,533	doesn't fit
Sell HTX live order book, 5 min ago	1.02 bp	8.9 bp −$9	12.1 bp −$121	42.7 bp −$4,270	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 −0.0192% / S +0.0356%	1h	786.59	−0.014%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.09	+0.050%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.68	+0.125%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.63	−0.009%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	787.19	+0.062%	$6.1M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.338%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	786.82	+0.015%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	787.60	+0.114%	$79.8M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	787.24	+0.068%	$490.3M	$804.3M	75x	as long as short
Phemex BNBUSDT	+0.0053%	8h	787.23	+0.067%	$68.9M	$50.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0057%	1h	786.99	+0.037%	$159K	$61K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.54	−0.021%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	+0.097%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.84	+0.018%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.63	−0.009%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.60	−0.013%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.17	+0.060%	$51.6M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.91	+0.027%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.70	0.000%	$138.2M	$74.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.025%	$53.4M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	+0.013%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−0.013%	$36.2M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.40	−0.038%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.35	−0.044%	$76.1M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.02	+0.041%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.41	−0.037%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	+0.096%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.12	+0.053%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.49	−0.027%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.82	+0.015%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.27	+0.072%	$12K	$1.5M	50x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	786.61	−0.011%	$8.1M	$9.8M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	787.03	+0.042%	$76K	$17K	50x	as long as short
SoDEX BNB-USDlong	+0.0102%	1h	786.70	long leg	$387K	$997K	10x
Extended BNB-USD	+0.0104%	1h	786.39	−0.039%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.78	+0.011%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.34	+0.081%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	787.20	+0.064%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	787.23	+0.067%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0200%	8h	787.52	+0.104%	$2.9M	$29.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.10	+0.051%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.187%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.24	+0.069%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	786.45	−0.031%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.92	+0.028%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.90	+0.025%	$67K	$39K	12x	as long as short