Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0121%/8h= +13.2% APRpaid last 24h +0.001%

Price spread now: edgeX against Kraken Futures+0.045%76s7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as 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−$330.334% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.387%+$39 · spread now +0.045%, 7d avg +0.075%

Together, before fees+0.483%+ Points / potential airdropedgeX: Active · farm board+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.045% now, against its 7-day average of +0.075%). If the spread goes back, that is −$3 on $10k: about 20 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.096% in total) that is about 2.2 days. The two prices were read 76 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	788.09	−0.0021	get 0.0003% / 1h	4m 06s	$2.5M	$1.2M	50x
Short	edgeX BNBUSDC	788.45	0.0100	get 0.0050% / 4h	3h 04m	$4.1M	$77.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $25.32
Price spread: +0.045% → +0.075%: −$3.05
Slippage, 4 orders: −$14.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$11.1
Costs to cover: 0.334%
Break-even: 10.1 days

Slippage from Kraken Futures: live order book, 5 min ago; edgeX: 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, 5 min ago	4.32 bp	9.4 bp −$9	17.8 bp −$178	38.3 bp −$3,826	93.0 bp −$46.5K
Sell edgeX live order book, 5 min ago	2.54 bp	7.0 bp −$7	7.0 bp −$70	10.5 bp −$1,052	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	788.13	+0.005%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.41	+0.040%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0021%	1h	788.09	long leg	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	0.0000%	8h	788.76	+0.084%	$3.0M	$26.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	789.12	+0.130%	$851K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.19	+0.012%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0010%	8h	788.66	+0.072%	$6.0M	$17.7M	200x	as long as short
BingX BNB-USDT	+0.0026%	8h	788.36	+0.034%	—	$22.0M	—	as long as short
Binance BNBUSDT	+0.0029%	8h	788.64	+0.069%	$484.3M	$798.2M	75x	as long as short
MEXC BNB_USDT	+0.0030%	8h	789.80	+0.216%	$83.1M	$12.5M	200x	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	+2.157%	$19K	$789K	30x	as long as short
Phemex BNBUSDT	+0.0087%	8h	788.79	+0.088%	$68.6M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.28	+0.024%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.85	−0.031%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.88	+0.100%	$51.8M	$17.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.47	+0.048%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.10	+0.001%	$138.9M	$70.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.10	+0.001%	$53.7M	$108.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	+0.039%	$52K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.15	+0.007%	$40.0M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.86	−0.030%	$27.9M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.92	−0.022%	$75.7M	$32.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.61	+0.065%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.82	−0.035%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDCshort	+0.0100%	4h	788.45	+0.045%	$4.1M	$77.1M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	788.58	+0.062%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.96	−0.017%	$130K	$917K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.32	+0.029%	$265K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.57	+0.060%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.30	+0.026%	$388K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.00	−0.013%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.59	+0.063%	$78K	$147K	50x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	788.60	+0.064%	$161K	$2.6M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	787.95	−0.019%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.10	+0.001%	$379K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	788.70	+0.077%	$551K	$2.0M	50x	as long as short
Phoenix BNB	+0.0120%	1h	788.52	+0.054%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0121%	8h	788.42	+0.041%	$17.6M	$2.3M	75x	as long as short
Bulk BNB-USD	+0.0150%	1h	788.74	+0.082%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.63	+0.068%	$1.5M	$138K	25x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	788.78	+0.087%	$28K	$3K	10x	as long as short
dYdX BNB-USD	+0.0275%	1h	788.17	+0.009%	$158K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	787.85	−0.031%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	788.49	+0.050%	$1.1M	$890K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	788.06	−0.005%	$67K	$39K	12x	as long as short