Binance vs HTX Funding Arbitrage
39 shared markets · net of estimated fees · updated every few minutesBinance and HTX both quote 39 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is 牛来 — long HTX / short Binance at 45.8% net APR — but the median across all shared markets is 8.5%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 32 markets go long on Binance and 7 on HTX. 27 markets clear 5% net APR, 19 clear 10%.
Spreads by market
top 25 of 39 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| ONG | HTX | Binance | 324.9% | 335.1% | — | $65K |
| TUT | Binance | HTX | 246.1% | 256.8% | — | $315K |
| 龙虾 | Binance | HTX | 161.1% | 180.0% | — | $762K |
| ACE | Binance | HTX | 97.3% | 112.7% | — | $276K |
| APR | Binance | HTX | 59.8% | 71.9% | — | $31K |
| 牛来 | HTX | Binance | 45.8% | 52.5% | — | $1.8M |
| ICP | HTX | Binance | 45.5% | 59.4% | — | $32K |
| PONS | HTX | Binance | 45.1% | 54.6% | — | $722K |
| BCH | Binance | HTX | 41.8% | 46.1% | — | $1.7M |
| TRUMP | Binance | HTX | 25.4% | 29.4% | — | $1.2M |
| TRX | Binance | HTX | 22.8% | 25.6% | — | $680K |
| DOT | Binance | HTX | 21.8% | 26.8% | — | $144K |
| SUN | Binance | HTX | 17.6% | 21.9% | — | $68K |
| JST | Binance | HTX | 16.6% | 21.1% | — | $49K |
| SUSHI | Binance | HTX | 14.4% | 19.9% | — | $30K |
| NEAR | Binance | HTX | 14.2% | 17.9% | — | $879K |
| AKE | Binance | HTX | 13.2% | 24.0% | — | $488K |
| ATOM | Binance | HTX | 10.6% | 18.2% | — | $127K |
| JUP | Binance | HTX | 10.2% | 16.6% | — | $64K |
| PAXG | HTX | Binance | 8.5% | 10.9% | — | $927K |
| BNB | Binance | HTX | 8.4% | 10.9% | — | $2.9M |
| LINK | Binance | HTX | 7.7% | 11.3% | — | $1.0M |
| ORDI | Binance | HTX | 7.4% | 14.5% | — | $504K |
| SUI | Binance | HTX | 7.0% | 9.7% | — | $3.6M |
| BTW | HTX | Binance | 5.4% | 14.1% | — | $141K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Binance vs HTX — FAQ
How many markets can you arbitrage between Binance and HTX?
39 perpetual markets are quoted on both Binance and HTX right now. 27 of them show a net spread of at least 5% APR after estimated fees, and 15 have at least $1M of 24h volume on the smaller leg.
What is the best Binance / HTX funding spread right now?
牛来: long HTX and short Binance for about 45.8% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 39 shared markets is 8.5%, so the top of the list is not typical.
Which side pays on the Binance / HTX pair?
It varies by market: Binance is the long (funding-receiving) leg in 32 of the shared markets and HTX in the other 7. The direction is set per market by which venue currently prices funding lower.
Trading the Binance / HTX spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: Binance funding rates · HTX funding rates; the full calculation is in the methodology.