Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0298%/8h= +32.7% APRpaid last 24h −0.037%

Price spread now: GRVT against Kraken Futures+0.088%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.088%, 7d avg +0.091%

Together, before fees+0.107%+ Points / potential airdropGRVT: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.091%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	788.39	−0.0124	get 0.0016% / 1h	31m 09s	$2.5M	$1.2M	50x
Short	GRVT BNB_USDT_Perp	789.08	0.0174	get 0.0174% / 8h	3h 31m	$2.9M	$28.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.088%Rate

Funding earned: $62.62
Price spread: +0.088% → +0.091%: −$0.34
Slippage, 4 orders: −$9.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $34.2
Costs to cover: 0.281%
Break-even: 3.2 days

Slippage from Kraken Futures: live order book, 3 min ago; GRVT: live order book, 3 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, 3 min ago	3.05 bp	9.2 bp −$9	14.4 bp −$144	33.8 bp −$3,375	94.5 bp −$47.2K
Sell GRVT live order book, 3 min ago	0.06 bp	4.6 bp −$5	6.3 bp −$63	24.2 bp −$2,416	doesn't fit

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 −0.0192% / S +0.0356%	1h	788.41	+0.003%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0124%	1h	788.39	long leg	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	788.29	−0.012%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.91	+0.066%	$851K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.44	+0.007%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	788.99	+0.076%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.119%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0040%	8h	788.62	+0.029%	—	$22.4M	—	as long as short
Phemex BNBUSDT	+0.0048%	8h	788.83	+0.056%	$69.0M	$50.6M	50x	as long as short
Binance BNBUSDT	+0.0049%	8h	788.98	+0.075%	$492.0M	$798.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0049%	8h	789.40	+0.128%	$80.0M	$12.0M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.238%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	788.43	+0.005%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.62	+0.029%	$2.7M	$3.8M	20x	as long as short
dYdX BNB-USD	+0.0097%	1h	788.56	+0.022%	$160K	$64K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.54	+0.019%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.95	−0.055%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.11	+0.092%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.35	−0.005%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	+0.002%	$138.7M	$73.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.30	−0.011%	$53.5M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.40	+0.002%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.45	+0.008%	$35.8M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.28	−0.014%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.14	−0.031%	$76.3M	$30.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.90	+0.065%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.21	−0.022%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.62	+0.030%	$4.1M	$73.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.47	+0.010%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.029%	$130K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.60	+0.027%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.67	+0.036%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.70	+0.040%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.30	−0.012%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.43	+0.005%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.12	−0.034%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.53	+0.018%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0122%	8h	789.30	+0.116%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0169%	8h	788.97	+0.074%	$18.1M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perpshort	+0.0174%	8h	789.08	+0.088%	$2.9M	$28.7M	10x
Bulk BNB-USD	+0.0219%	1h	788.52	+0.017%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.74	+0.045%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.02	+0.080%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.14	−0.031%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	788.36	−0.003%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.57	+0.023%	$1.1M	$893K	20x	as long as short