BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0141%/8h= +15.4% APRnext payment +$0.18 per $10,000 · paid last 24h −0.007%

Price spread now: Coinbase International against Kraken Futures+0.040%59s7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as 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−$330.333% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.040%, 7d avg −0.001%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.041% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.001%. The two prices were read 59 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	Kraken Futures PF_BNBUSD	788.39	−0.0021	get 0.0003% / 1h	12m 23s	$2.5M	$1.2M	50x
Short	Coinbase International BNB-PERP-INTX	788.70	0.0120	get 0.0015% / 1h	12m 23s	$551K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.040%Rate

Funding earned: $29.51
Price spread: +0.040% → −0.001%: $4.11
Slippage, 4 orders: −$13.32
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.31
Costs to cover: 0.333%
Break-even: 6.9 days

Slippage from Kraken Futures: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	3.24 bp	10.0 bp −$10	13.3 bp −$133	38.3 bp −$3,834	100.0 bp −$50.0K
Sell Coinbase International live order book, 1 min ago	1.40 bp	6.4 bp −$6	13.0 bp −$130	doesn't fit	doesn't fit

BNB on 45 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 −0.0166% / S +0.0336%	1h	788.34	−0.006%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	−0.035%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0021%	1h	788.39	long leg	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	0.0000%	8h	788.94	+0.070%	$3.0M	$26.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	789.58	+0.151%	$851K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.33	−0.007%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0014%	8h	788.79	+0.051%	$6.0M	$17.9M	200x	as long as short
BingX BNB-USDC	+0.0028%	8h	788.39	0.000%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0033%	8h	789.90	+0.192%	$82.9M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0033%	8h	788.87	+0.061%	$488.9M	$799.3M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.119%	$19K	$789K	30x	as long as short
Lighter BNB	+0.0096%	1h	787.93	−0.058%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	−0.093%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.91	+0.066%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.10	−0.037%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.47	+0.011%	$139.0M	$71.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.50	+0.014%	$53.7M	$108.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.90	−0.062%	$52K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.45	+0.008%	$39.8M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.83	−0.071%	$27.9M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.26	−0.016%	$75.8M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.09	−0.038%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.74	+0.044%	$4.3M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.02	+0.081%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.03	+0.082%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.84	−0.069%	$130K	$919K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.64	+0.032%	$265K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.82	+0.055%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.60	+0.027%	$388K	$940K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.74	−0.082%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.08	−0.039%	$78K	$47K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.26	−0.016%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.74	+0.045%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0108%	8h	788.20	−0.024%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTXshort	+0.0120%	1h	788.70	+0.040%	$551K	$2.0M	50x
Phoenix BNB	+0.0120%	1h	789.48	+0.139%	$159K	$38K	10x	as long as short
Phemex BNBUSDT	+0.0129%	8h	788.34	−0.006%	$68.6M	$51.3M	50x	as long as short
BloFin BNB-USDT	+0.0135%	8h	788.23	−0.020%	$17.8M	$2.3M	75x	as long as short
Bulk BNB-USD	+0.0154%	1h	788.26	−0.017%	$639K	$0	10x	as long as short
dYdX BNB-USD	+0.0203%	1h	788.19	−0.025%	$158K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.33	−0.007%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.12	+0.093%	$1.5M	$138K	25x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	787.35	−0.131%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	788.03	−0.045%	$1.1M	$890K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	789.02	+0.080%	$68K	$39K	12x	as long as short