Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h −0.003%

Price spread now: MEXC against Kraken Futures+0.214%51s7-day average +0.178% · 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−$280.281% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)+0.321%+$32 · spread now +0.214%, 7d avg +0.178%

Together, before fees+0.360%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.036% 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 +0.178%. The two prices were read 51 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	786.91	−0.0021	get 0.0003% / 1h	45m 29s	$2.5M	$1.2M	50x
Short	MEXC BNB_USDT	788.60	0.0044	get 0.0044% / 8h	7h 45m	$82.0M	$12.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.214%Rate

Funding earned: $13.56
Price spread: +0.214% → +0.178%: $3.63
Slippage, 4 orders: −$14.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$10.94
Costs to cover: 0.281%
Break-even: 12.6 days

Slippage from Kraken Futures: live order book, 3 min ago; MEXC: live order book, 4 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	2.98 bp	8.5 bp −$9	10.7 bp −$107	27.9 bp −$2,786	84.3 bp −$42.1K
Sell MEXC live order book, 4 min ago	1.90 bp	4.4 bp −$4	6.8 bp −$68	24.7 bp −$2,473	39.9 bp −$20.0K

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	786.98	+0.008%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.29	+0.048%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0021%	1h	786.91	long leg	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	0.0000%	8h	787.49	+0.073%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	787.89	+0.124%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.01	+0.013%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	787.50	+0.075%	$6.0M	$18.5M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.310%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0036%	8h	787.18	+0.034%	—	$22.1M	—	as long as short
Binance BNBUSDT	+0.0043%	8h	787.49	+0.073%	$489.9M	$812.6M	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_USDTshort	+0.0044%	8h	788.60	+0.214%	$82.0M	$12.1M	200x
dYdX BNB-USD	+0.0090%	1h	787.07	+0.020%	$157K	$64K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.14	+0.029%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.85	−0.008%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.56	+0.082%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.28	+0.046%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.90	−0.002%	$138.6M	$73.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.002%	$53.5M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.20	+0.037%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.05	+0.017%	$39.2M	$55.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.66	−0.032%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.64	−0.035%	$75.5M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.39	+0.061%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.82	−0.012%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	+0.068%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.37	+0.058%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.10	+0.024%	$132K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.02	+0.014%	$265K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.23	+0.040%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.46	+0.070%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.10	+0.024%	$387K	$948K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.39	+0.061%	$1.5M	$141K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.27	+0.045%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.52	+0.077%	$78K	$17K	50x	as long as short
Phemex BNBUSDT	+0.0101%	8h	787.71	+0.101%	$68.7M	$51.1M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.65	−0.033%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.91	0.000%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0114%	8h	787.60	+0.087%	$171K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	−0.041%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	787.48	+0.072%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0164%	8h	787.58	+0.085%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0215%	1h	787.68	+0.098%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.52	+0.077%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	786.71	−0.026%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.29	+0.048%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	787.30	+0.050%	$67K	$39K	12x	as long as short