Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.001%

Price spread now: Kraken Futures against Binance−0.062%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

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

costs, in and out, $10k−$300.305% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.062%, 7d avg −0.091%

Together, before fees−0.091%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.029% dearer against Binance than usual: you sell high and buy low (spread −0.062% now, against its 7-day average of −0.091%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.034% in total) that is about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	786.97	0.0055	pay 0.0055% / 8h	40m 47s	$489.3M	$821.9M	75x
Short	Kraken Futures PF_BNBUSD	786.48	−0.0050	pay 0.0006% / 1h	40m 47s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$22.13
Price spread: −0.062% → −0.091%: $2.87
Slippage, 4 orders: −$10.45
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$49.72
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Kraken Futures: live order book, 3 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 Binance live order book, 3 min ago	0.06 bp	5.1 bp −$5	6.5 bp −$65	15.1 bp −$1,506	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.39 bp	9.6 bp −$10	13.2 bp −$132	31.3 bp −$3,131	97.1 bp −$48.5K

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	786.60	−0.046%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.89	−0.010%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0050%	1h	786.48	−0.062%	$2.5M	$1.2M	50x
StandX BNB-USD	0.0000%	1h	787.35	+0.048%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.61	−0.046%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.303%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0044%	8h	786.44	−0.067%	—	$22.3M	—	as long as short
Aster BNBUSDT	+0.0045%	8h	786.90	−0.009%	$6.0M	$18.9M	200x	as long as short
MEXC BNB_USDT	+0.0055%	8h	787.50	+0.068%	$81.0M	$11.9M	200x	as long as short
Binance BNBUSDTlong	+0.0055%	8h	786.97	long leg	$489.3M	$821.9M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0064%	1h	786.54	−0.054%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0077%	8h	787.19	+0.028%	$68.8M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.37	−0.076%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	786.90	−0.009%	$169K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.40	−0.072%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.07	+0.013%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.55	−0.053%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.20	−0.098%	$138.3M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.10	−0.110%	$53.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	−0.060%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.066%	$38.3M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.95	−0.129%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.92	−0.133%	$76.3M	$31.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.10	+0.017%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.30	−0.085%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.08	+0.014%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.25	+0.036%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.53	−0.056%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.65	−0.040%	$264K	$426K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.78	−0.024%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.09	+0.015%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.80	−0.021%	$387K	$974K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.59	−0.048%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.88	−0.012%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.19	−0.099%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.70	−0.034%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	786.37	−0.076%	$556K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0115%	8h	787.00	+0.004%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0175%	8h	787.20	+0.029%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.08	+0.014%	$1.5M	$145K	25x	as long as short
Bulk BNB-USD	+0.0210%	1h	786.98	+0.001%	$638K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	787.62	+0.083%	$2.9M	$28.7M	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	787.12	+0.019%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.30	−0.085%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.42	−0.069%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.74	−0.029%	$67K	$39K	12x	as long as short