Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.043%

Price spread now: Kraken Futures against GRVT−0.009%75s7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.314% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 3 days (all we have)−0.184%−$18 · spread now −0.009%, 7d avg −0.093%

Together, before fees−0.242%+ Points / potential airdropGRVT: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.084% dearer against GRVT than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.093%. Mind the row above: over the last 7 days funding on this pair cost −0.058%, so the current rate has only just turned in your favour. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BNB_USDT_Perp	804.60	0	get 0.0000% / 8h	2h 28m	$3.0M	$29.3M	10x
Short	Kraken Futures PF_BNBUSD	804.53	0.0038	get 0.0005% / 1h	28m 09s	$2.5M	$909K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against GRVT. 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 GRVTbpFee Kraken FuturesbpOrdersPrice spread, now −0.009%Rate

Funding earned: $8.03
Price spread: −0.009% → −0.093%: $8.43
Slippage, 4 orders: −$12.39
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$14.94
Costs to cover: 0.314%
Break-even: 20.0 days

Slippage from GRVT: live order book, 6 min ago; Kraken Futures: live order book, 6 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 GRVT live order book, 6 min ago	0.06 bp	4.6 bp −$5	6.6 bp −$66	22.2 bp −$2,217	doesn't fit
Sell Kraken Futures live order book, 6 min ago	2.43 bp	10.0 bp −$10	14.5 bp −$145	32.4 bp −$3,239	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	804.32	−0.035%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.71	+0.013%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perplong	0.0000%	8h	804.60	long leg	$3.0M	$29.3M	10x
Kalshi KXBNBPERP	0.0000%	8h	804.90	+0.037%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.09	−0.064%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.42	−0.022%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0038%	1h	804.53	−0.009%	$2.5M	$909K	50x
Variational Omni BNB	+0.0049%	8h	803.71	−0.111%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0054%	8h	804.51	−0.012%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0075%	8h	804.20	−0.050%	$139.5M	$82.6M	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	804.19	−0.052%	$609K	$878K	50x	as long as short
Aster BNBUSDT	+0.0090%	8h	805.12	+0.064%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	804.64	+0.004%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.08	−0.066%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.59	−0.002%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.50	−0.013%	$55.1M	$115.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.60	−0.001%	$53K	$165K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.30	−0.038%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.16	−0.055%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.16	−0.055%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.62	+0.001%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.73	+0.016%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.27	−0.042%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.43	−0.022%	$389K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.57	−0.005%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.00	+0.048%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.90	+0.037%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.24	−0.045%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.03	+0.053%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.08	−0.065%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.43	−0.022%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0107%	8h	805.40	+0.099%	$84.5M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0108%	8h	805.29	+0.085%	$519.6M	$803.1M	75x	as long as short
Phemex BNBUSDT	+0.0125%	8h	805.04	+0.054%	$70.2M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.93	−0.084%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0164%	1h	805.18	+0.071%	$51.7M	$21.3M	10x	as long as short
SoDEX BNB-USD	+0.0184%	1h	804.50	−0.013%	$396K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0197%	1h	804.34	−0.033%	$650K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.71	+0.013%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0227%	8h	804.67	+0.008%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	804.11	−0.061%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0280%	1h	804.28	−0.040%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	805.29	+0.085%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.09	−0.065%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.035%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0651%	1h	805.46	+0.106%	$3.0M	$5.4M	40x	as long as short