BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.08 per $10,000 · paid last 24h +0.002%

Price spread now: Kraken Futures against Deribit−0.049%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.049%, 7d avg −0.051%

Together, before fees−0.206%−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	805.91	0.0100	pay 0.0013% / 1h	25m 18s	$1.6M	$165K	25x
Short	Kraken Futures PF_BNBUSD	805.52	0.0038	get 0.0005% / 1h	25m 18s	$2.5M	$908K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$12.98
Price spread: −0.049% → −0.051%: $0.2
Slippage, 4 orders: −$21.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$51.23
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 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 Deribit live order book, 4 min ago	1.93 bp	7.9 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.61 bp	10.9 bp −$11	16.0 bp −$160	34.4 bp −$3,443	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 −0.0195% / S +0.0371%	1h	805.34	−0.071%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.10	−0.101%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.40	−0.063%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.00	+0.011%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.57	−0.042%	$871K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.37	−0.067%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0038%	1h	805.52	−0.049%	$2.5M	$908K	50x
Variational Omni BNB	+0.0048%	8h	805.22	−0.086%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0052%	8h	805.44	−0.058%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0075%	8h	805.10	−0.101%	$139.6M	$82.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	804.80	−0.138%	$609K	$879K	50x	as long as short
Aster BNBUSDT	+0.0094%	8h	806.17	+0.032%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	805.63	−0.035%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.25	−0.082%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.78	−0.016%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.30	−0.076%	$55.2M	$115.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.00	+0.011%	$53K	$168K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.20	−0.088%	$36.0M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.20	−0.088%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.24	−0.083%	$79.2M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.49	−0.053%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	−0.039%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.27	−0.080%	$119K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.44	−0.058%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.58	−0.041%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.08	+0.021%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0100%	1h	805.91	long leg	$1.6M	$165K	25x
HTX BNB-USDT	+0.0100%	8h	805.41	−0.062%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.26	+0.044%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	805.08	−0.103%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.58	−0.042%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0108%	8h	806.30	+0.048%	$84.6M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0110%	8h	806.08	+0.021%	$520.5M	$803.8M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.78	−0.016%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0127%	8h	806.04	+0.016%	$70.3M	$51.8M	50x	as long as short
Hyperliquid BNB	+0.0171%	1h	806.08	+0.021%	$51.8M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0197%	1h	804.34	−0.195%	$650K	$11K	10x	as long as short
SoDEX BNB-USD	+0.0199%	1h	805.40	−0.063%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.78	−0.016%	$1.1M	$1.5M	20x	as long as short
BloFin BNB-USDT	+0.0230%	8h	806.35	+0.054%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	805.69	−0.028%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0264%	1h	805.64	−0.034%	$170K	$55K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	805.11	−0.099%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	806.38	+0.058%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.127%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0652%	1h	806.84	+0.115%	$3.0M	$5.5M	40x	as long as short