Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0174%/8h= −19.1% APRpaid last 24h +0.019%

Price spread now: Kraken Futures against Gate+0.014%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.066%−$7 · spread now +0.014%, 7d avg +0.008%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, 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	Gate BNB_USDT	798.10	0.0100	pay 0.0100% / 8h	5m 09s	$35.7M	$58.7M	75x
Short	Kraken Futures PF_BNBUSD	798.21	−0.0074	pay 0.0009% / 1h	5m 09s	$2.5M	$975K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$36.54
Price spread: +0.014% → +0.008%: $0.66
Slippage, 4 orders: −$15.23
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$76.1
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 4 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 Gate live order book, 4 min ago	0.31 bp	10.6 bp −$11	13.3 bp −$133	29.9 bp −$2,986	58.5 bp −$29.2K
Sell Kraken Futures live order book, 4 min ago	4.63 bp	10.2 bp −$10	17.1 bp −$171	30.0 bp −$3,000	99.0 bp −$49.5K

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 −0.0201% / S +0.0372%	1h	798.33	+0.029%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.55	+0.056%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0074%	1h	798.21	+0.014%	$2.5M	$975K	50x
GRVT BNB_USDT_Perp	0.0000%	8h	798.60	+0.063%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.91	+0.101%	$863K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0007%	8h	797.54	−0.070%	$4.1M	$5.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.36	+0.033%	$9.7M	—	150x	as long as short
BingX BNB-USDC	+0.0030%	8h	798.22	+0.015%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0037%	8h	798.02	−0.010%	$138.5M	$76.9M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.14	+0.005%	$601K	$984K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0078%	8h	798.86	+0.095%	$6.2M	$19.2M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.60	+0.063%	$2.8M	$4.1M	20x	as long as short
Phemex BNBUSDT	+0.0098%	8h	798.84	+0.093%	$69.9M	$50.6M	50x	as long as short
Binance BNBUSDT	+0.0099%	8h	799.04	+0.117%	$497.7M	$817.9M	75x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.07	−0.004%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.19	+0.011%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.20	+0.013%	$54.3M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.50	+0.050%	$53K	$133K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	798.10	long leg	$35.7M	$58.7M	75x
MEXC BNB_USDT	+0.0100%	8h	799.30	+0.150%	$83.0M	$13.6M	200x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.27	+0.021%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.10	0.000%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.64	+0.068%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.12	+0.128%	$161K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.25	+0.019%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.23	+0.016%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.44	+0.043%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.79	+0.086%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	+0.050%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.74	+0.080%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.08	−0.002%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.79	+0.086%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.97	−0.016%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.45	+0.043%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	+0.034%	$172K	$36K	10x	as long as short
Kalshi KXBNBPERP	+0.0149%	8h	798.80	+0.088%	$90K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	798.02	−0.010%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	+0.091%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0219%	8h	798.91	+0.101%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0243%	1h	799.22	+0.140%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.32	+0.028%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	798.79	+0.086%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.876%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	797.91	−0.024%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0333%	1h	798.04	−0.008%	$161K	$63K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0343%	1h	799.14	+0.130%	$2.7M	$5.7M	40x	as long as short