Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.024%

Price spread now: Bybit against Kraken Futures−0.011%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.011%, 7d avg −0.023%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, 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	Kraken Futures PF_BNBUSD	798.62	−0.0121	get 0.0015% / 1h	39m 13s	$2.5M	$976K	50x
Short	Bybit BNBUSDT	798.53	−0.0057	pay 0.0057% / 8h	7h 39m	$138.7M	$76.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.011%Rate

Funding earned: $13.38
Price spread: −0.011% → −0.023%: $1.12
Slippage, 4 orders: −$15.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.2
Costs to cover: 0.367%
Break-even: 18.6 days

Slippage from Kraken Futures: live order book, 4 min ago; Bybit: live order book, 5 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	4.13 bp	11.2 bp −$11	13.4 bp −$134	22.4 bp −$2,244	64.0 bp −$32.0K
Sell Bybit live order book, 5 min ago	0.63 bp	6.1 bp −$6	8.4 bp −$84	23.8 bp −$2,378	117.3 bp −$58.7K

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	799.04	+0.052%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0121%	1h	798.62	long leg	$2.5M	$976K	50x
BingX BNB-USDT	−0.0094%	8h	799.24	+0.078%	—	$35.2M	—	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	800.06	+0.180%	$4K	$239	25x	as long as short
Bybit BNBUSDTshort	−0.0057%	8h	798.53	−0.011%	$138.7M	$76.0M	75x
GRVT BNB_USDT_Perp	0.0000%	8h	799.99	+0.171%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.91	+0.161%	$864K	$2.9M	30x	as long as short
Phemex BNBUSDT	0.0000%	8h	799.34	+0.090%	$69.8M	$50.5M	50x	as long as short
Variational Omni BNB	+0.0005%	8h	798.83	+0.026%	$4.1M	$5.3M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.05	+0.054%	$9.7M	—	150x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.810%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.00	−0.078%	$601K	$969K	50x	as long as short
Aster BNBUSDT	+0.0067%	8h	799.62	+0.125%	$6.2M	$19.1M	200x	as long as short
Gate BNB_USDT	+0.0080%	8h	798.95	+0.041%	$35.7M	$56.1M	75x	as long as short
MEXC BNB_USDT	+0.0088%	8h	800.00	+0.173%	$83.2M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0088%	8h	799.28	+0.083%	$496.2M	$809.4M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.02	+0.050%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	799.66	+0.130%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.46	+0.105%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.84	+0.153%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.80	+0.023%	$54.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.70	+0.135%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.01	+0.049%	$28.0M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.88	+0.033%	$78.8M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.66	+0.130%	$4.2M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.38	+0.095%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.07	+0.056%	$118K	$871K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.98	+0.045%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.09	+0.059%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.22	+0.200%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.00	+0.048%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.23	+0.077%	$1.6M	$160K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.12	+0.062%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.36	+0.217%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.34	−0.036%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.89	+0.033%	$384K	$108K	10x	as long as short
Bulk BNB-USD	+0.0118%	1h	798.39	−0.028%	$648K	$11K	10x	as long as short
Hibachi BNB/USDT-P	+0.0144%	1h	799.86	+0.155%	$69K	$36K	12x	as long as short
RISEx BNB/USDC	+0.0155%	1h	799.39	+0.096%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0157%	8h	799.70	+0.135%	$90K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0208%	8h	799.52	+0.113%	$18.1M	$2.4M	75x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	799.60	+0.123%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0275%	1h	799.47	+0.107%	$161K	$63K	10x	as long as short
Hyperliquid BNB	+0.0314%	1h	799.95	+0.167%	$53.1M	$20.6M	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.71	+0.011%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0401%	1h	800.52	+0.238%	$2.7M	$5.6M	40x	as long as short