BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0224%/8h= +24.6% APRnext payment +$0.28 per $10,000 · paid last 24h −0.007%

Price spread now: Pacifica against Kraken Futures−0.005%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now −0.005%, 7d avg +0.039%

Together, before fees+0.218%+ Points / potential airdropPacifica: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.043% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.039%). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.099% in total) that is about 3.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.099% in total (about 5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. 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	787.21	−0.0124	get 0.0016% / 1h	10m 30s	$2.5M	$1.2M	50x
Short	Pacifica BNB	787.17	0.0100	get 0.0013% / 1h	10m 30s	$1.2M	$934K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.005%Rate

Funding earned: $47.12
Price spread: −0.005% → +0.039%: −$4.32
Slippage, 4 orders: −$12.21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $12.59
Costs to cover: 0.302%
Break-even: 5.1 days

Slippage from Kraken Futures: live order book, 3 min ago; Pacifica: 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	3.30 bp	9.7 bp −$10	13.9 bp −$139	31.6 bp −$3,162	95.0 bp −$47.5K
Sell Pacifica live order book, 3 min ago	0.06 bp	4.3 bp −$4	doesn't fit	doesn't fit	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	787.22	+0.002%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0124%	1h	787.21	long leg	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	787.35	+0.018%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.20	+0.126%	$124K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.10	+0.114%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.20	−0.127%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0021%	8h	787.35	+0.018%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0033%	8h	787.01	−0.025%	—	$22.3M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.272%	$19K	$789K	30x	as long as short
Phemex BNBUSDT	+0.0038%	8h	787.74	+0.068%	$68.9M	$50.8M	50x	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	+0.0041%	8h	787.10	−0.014%	$79.8M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0041%	8h	787.43	+0.028%	$490.7M	$802.7M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	788.00	+0.101%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0078%	1h	787.24	+0.005%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.74	+0.068%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.10	−0.014%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.32	+0.014%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.70	−0.064%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.68	−0.067%	$51.6M	$17.5M	10x	as long as short
Pacifica BNBshort	+0.0100%	1h	787.17	−0.005%	$1.2M	$934K	20x
Bybit BNBUSDT	+0.0100%	8h	786.50	−0.090%	$138.3M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.115%	$53.4M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.10	−0.014%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.85	−0.045%	$36.1M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.56	−0.082%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.84	−0.174%	$76.1M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.49	+0.036%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	−0.026%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.75	+0.069%	$4.1M	$74.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.52	+0.040%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.47	−0.094%	$131K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.37	+0.021%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.92	+0.091%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	+0.025%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.36	+0.020%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.28	+0.010%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.48	−0.092%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.33	+0.015%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0161%	8h	787.93	+0.092%	$17.8M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0178%	8h	787.99	+0.100%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0201%	1h	787.88	+0.086%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.41	+0.026%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.70	+0.063%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.80	−0.178%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	787.38	+0.021%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	787.15	−0.008%	$1.1M	$894K	20x	as long as short