Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.001%

Price spread now: Binance against Kraken Futures+0.068%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.068%, 7d avg +0.091%

Together, before fees+0.085%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.023% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.068% now, against its 7-day average of +0.091%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.034% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	784.77	−0.0050	get 0.0006% / 1h	59m 50s	$2.5M	$1.2M	50x
Short	Binance BNBUSDT	785.30	0.0046	get 0.0046% / 8h	7h 59m	$488.5M	$813.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.068%Rate

Funding earned: $20.25
Price spread: +0.068% → +0.091%: −$2.29
Slippage, 4 orders: −$11.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$13.15
Costs to cover: 0.311%
Break-even: 11.5 days

Slippage from Kraken Futures: live order book, 4 min ago; Binance: live order book, 14 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 Kraken Futures live order book, 4 min ago	2.93 bp	8.9 bp −$9	11.9 bp −$119	27.1 bp −$2,707	70.8 bp −$35.4K
Sell Binance live order book, 14 min ago	0.06 bp	5.7 bp −$6	6.8 bp −$68	15.9 bp −$1,586	38.8 bp −$19.4K

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 −0.0168% / S +0.0337%	1h	784.74	−0.004%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.24	+0.060%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0050%	1h	784.77	long leg	$2.5M	$1.2M	50x
StandX BNB-USD	0.0000%	1h	785.56	+0.101%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.72	−0.006%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	785.27	+0.063%	$5.9M	$18.6M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.590%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0038%	8h	784.89	+0.015%	—	$22.1M	—	as long as short
MEXC BNB_USDT	+0.0046%	8h	786.20	+0.182%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDTshort	+0.0046%	8h	785.30	+0.068%	$488.5M	$813.7M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0083%	8h	785.50	+0.093%	$68.5M	$51.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	784.96	+0.025%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	784.80	+0.004%	$158K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.65	−0.015%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.39	+0.079%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.02	+0.031%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.70	−0.009%	$138.1M	$73.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	−0.021%	$53.4M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.00	+0.030%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.85	+0.010%	$38.6M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.45	−0.041%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.41	−0.046%	$75.3M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.24	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.64	−0.016%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.86	+0.012%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.47	−0.038%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.65	−0.015%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.73	−0.005%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.53	−0.030%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.28	+0.065%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.90	+0.017%	$386K	$956K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.00	+0.030%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.28	+0.065%	$78K	$17K	50x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	785.30	+0.068%	$170K	$2.6M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	784.47	−0.039%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.74	−0.003%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.97	+0.026%	$548K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0127%	1h	784.99	+0.028%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0166%	8h	785.59	+0.105%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.20	+0.055%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0215%	8h	785.06	+0.037%	$2.9M	$27.5M	10x	as long as short
Bulk BNB-USD	+0.0237%	1h	785.14	+0.047%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.38	+0.078%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.53	−0.031%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.14	+0.048%	$1.1M	$921K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	784.85	+0.010%	$67K	$39K	12x	as long as short