BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.19 per $10,000 · paid last 24h −0.047%

Price spread now: Kraken Futures against Backpack−0.048%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.048%, 7d avg −0.064%

Together, before fees−0.255%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.064%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	786.88	0.0100	pay 0.0013% / 1h	58m 48s	$2.2M	$6.1M	40x
Short	Kraken Futures PF_BNBUSD	786.50	−0.0050	pay 0.0006% / 1h	58m 48s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Backpack. 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 BackpackbpFee Kraken FuturesbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$31.53
Price spread: −0.048% → −0.064%: $1.57
Slippage, 4 orders: −$9.58
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$59.54
Costs to cover: 0.296%
Break-even: never at this rate

Slippage from Backpack: live order book, just now; Kraken Futures: 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 Backpack live order book, just now	0.06 bp	5.1 bp −$5	8.6 bp −$86	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.41 bp	10.4 bp −$10	13.4 bp −$134	29.3 bp −$2,932	99.3 bp −$49.6K

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 −0.0170% / S +0.0337%	1h	786.48	−0.050%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.89	+0.001%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0050%	1h	786.50	−0.048%	$2.5M	$1.2M	50x
StandX BNB-USD	0.0000%	1h	787.83	+0.121%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.50	−0.049%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.314%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0047%	8h	786.51	−0.047%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	787.01	+0.017%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0057%	8h	787.70	+0.104%	$81.0M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	787.01	+0.016%	$489.1M	$821.4M	75x	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	+0.0067%	1h	786.64	−0.030%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0075%	8h	787.13	+0.032%	$68.8M	$51.3M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.72	−0.020%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	−0.067%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.05	+0.022%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.76	−0.016%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	−0.061%	$138.4M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.20	−0.086%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	−0.010%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.40	−0.061%	$38.0M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.06	−0.104%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.20	−0.086%	$76.7M	$31.6M	75x	as long as short
Backpack BNB_USDC_PERPlong	+0.0100%	1h	786.88	long leg	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	785.91	−0.123%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.76	−0.015%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.93	+0.006%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.43	−0.057%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.53	−0.044%	$265K	$454K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.05	+0.022%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.09	+0.026%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	−0.023%	$387K	$977K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	786.93	+0.006%	$1.5M	$145K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.63	−0.031%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.06	+0.023%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.13	−0.095%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.52	−0.046%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	787.43	+0.070%	$564K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	787.00	+0.015%	$171K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	786.67	−0.027%	$169K	$34K	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	787.39	+0.065%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.06	+0.023%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0230%	1h	786.88	0.000%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	787.18	+0.038%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.20	−0.086%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.79	−0.011%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	786.61	−0.035%	$67K	$39K	12x	as long as short