Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.017%

Price spread now: Kraken Futures against HTX−0.019%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.019%, 7d avg +0.005%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.025% cheaper against HTX than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.005%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.081%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	806.07	0.0100	pay 0.0100% / 8h	1h 36m	$8.2M	$7.7M	75x
Short	Kraken Futures PF_BNBUSD	805.91	0.0205	get 0.0026% / 1h	36m 31s	$2.5M	$930K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now −0.019%Rate

Funding earned: $22.09
Price spread: −0.019% → +0.005%: −$2.47
Slippage, 4 orders: −$18.39
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.77
Costs to cover: 0.404%
Break-even: 13.6 days

Slippage from HTX: live order book, 3 min ago; Kraken Futures: live order book, 2 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 HTX live order book, 3 min ago	1.48 bp	12.5 bp −$12	14.5 bp −$145	41.8 bp −$4,185	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.53 bp	10.8 bp −$11	17.5 bp −$175	38.0 bp −$3,798	226.0 bp −$113.0K

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	805.41	−0.082%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.40	+0.041%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.76	+0.086%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.80	+0.091%	$106K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.10	+0.004%	$871K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.48	−0.073%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0044%	8h	806.56	+0.061%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0058%	8h	805.62	−0.055%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	805.20	−0.108%	$139.5M	$81.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	806.15	+0.010%	$2.8M	$4.2M	20x	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	+0.0096%	1h	805.54	−0.065%	$608K	$881K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	805.40	−0.083%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.96	−0.013%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.30	−0.095%	$55.0M	$115.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.10	+0.004%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.35	−0.089%	$36.1M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.31	−0.094%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.20	−0.108%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	807.06	+0.123%	$4.2M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.65	+0.072%	$162K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.54	−0.065%	$116K	$869K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.53	−0.067%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.13	+0.007%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.51	+0.055%	$13K	$1.7M	50x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	806.07	long leg	$8.2M	$7.7M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	806.34	+0.034%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	805.26	−0.100%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.07	+0.001%	$387K	$40K	10x	as long as short
Aster BNBUSDT	+0.0107%	8h	806.29	+0.028%	$6.4M	$18.8M	200x	as long as short
Hibachi BNB/USDT-P	+0.0112%	1h	806.23	+0.021%	$71K	$48K	12x	as long as short
MEXC BNB_USDT	+0.0122%	8h	806.50	+0.054%	$84.7M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0123%	8h	806.11	+0.006%	$520.4M	$804.2M	75x	as long as short
Phemex BNBUSDT	+0.0135%	8h	806.53	+0.057%	$70.4M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	807.20	+0.141%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0180%	1h	806.10	+0.004%	$397K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0203%	1h	805.79	−0.035%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0205%	1h	805.91	−0.019%	$2.5M	$930K	50x
Hyperliquid BNB	+0.0239%	1h	806.46	+0.049%	$52.2M	$21.9M	10x	as long as short
BloFin BNB-USDT	+0.0243%	8h	806.57	+0.062%	$18.8M	$2.6M	75x	as long as short
Bulk BNB-USD	+0.0295%	1h	807.66	+0.198%	$652K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	806.39	+0.039%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.121%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.95	−0.014%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	805.13	−0.116%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0352%	1h	806.38	+0.039%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0691%	1h	807.09	+0.127%	$3.0M	$5.5M	40x	as long as short