Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0301%/8h= −33.0% APRpaid last 24h −0.032%

Price spread now: Kraken Futures against BloFin−0.043%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.043%, 7d avg −0.091%

Together, before fees−0.289%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.048% dearer against BloFin than usual: you sell high and buy low (spread −0.043% now, against its 7-day average of −0.091%): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.258% in total) that is about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	790.49	0.0177	pay 0.0177% / 8h	3h 52m	$18.1M	$2.2M	75x
Short	Kraken Futures PF_BNBUSD	790.15	−0.0124	pay 0.0015% / 1h	52m 28s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$63.21
Price spread: −0.043% → −0.091%: $4.84
Slippage, 4 orders: −$13.32
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$93.69
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Kraken Futures: live order book, 1 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 BloFin live order book, 6 min ago	0.06 bp	6.1 bp −$6	7.6 bp −$76	13.5 bp −$1,353	doesn't fit
Sell Kraken Futures live order book, 1 min ago	3.42 bp	10.8 bp −$11	16.3 bp −$163	36.9 bp −$3,685	115.8 bp −$57.9K

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 −0.0191% / S +0.0355%	1h	789.65	−0.107%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0124%	1h	790.15	−0.043%	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	790.37	−0.015%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.06	−0.054%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.80	−0.087%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.847%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	790.88	+0.049%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	790.41	−0.010%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	790.80	+0.039%	$80.2M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	790.90	+0.051%	$494.0M	$795.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0061%	8h	790.66	+0.022%	$69.1M	$50.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	789.35	−0.144%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	−0.011%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	790.41	−0.010%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.09	−0.051%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.10	−0.049%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.73	+0.030%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.43	−0.008%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.20	−0.037%	$139.0M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.20	−0.037%	$53.5M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.40	−0.011%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.25	−0.030%	$35.7M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.14	−0.044%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.60	−0.113%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.56	+0.009%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.149%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.17	−0.041%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.54	+0.006%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.10	−0.049%	$130K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.19	−0.038%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.58	+0.012%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.20	−0.037%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.89	−0.076%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	790.65	+0.021%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.93	−0.070%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.02	−0.059%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	789.80	−0.087%	$135K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.96	−0.067%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0163%	8h	789.64	−0.108%	$2.9M	$28.5M	10x	as long as short
BloFin BNB-USDTlong	+0.0177%	8h	790.49	long leg	$18.1M	$2.2M	75x
Bulk BNB-USD	+0.0234%	1h	790.66	+0.022%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	790.89	+0.051%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.57	+0.009%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.65	−0.106%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	790.08	−0.052%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	790.63	+0.018%	$1.1M	$892K	20x	as long as short