Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.002%

Price spread now: Paradex against Kraken Futures−0.087%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.087% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 9.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	786.66	0.0069	pay 0.0009% / 1h	34m 34s	$2.5M	$1.2M	50x
Short	Paradex BNB-USD-PERP	785.98	0.0100	get 0.0100% / 8h	2h 34m	$76K	$17K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.087%Rate

Funding earned: $6.54
Price spread: −0.087% → 0.000%: −$8.68
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.14
Costs to cover: 0.140%
Break-even: 24.3 days

Slippage unknown: Kraken Futures: live order book, 4 min ago; Paradex: no order-book sample. Net counts fees only.

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, 4 min ago	4.39 bp	11.6 bp −$12	16.4 bp −$164	32.7 bp −$3,269	99.1 bp −$49.6K
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	786.72	+0.008%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.02	−0.081%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.58	+0.117%	$849K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.83	+0.022%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	786.23	−0.055%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.343%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0041%	8h	785.73	−0.118%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0045%	8h	787.23	+0.072%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0052%	8h	786.60	−0.008%	$79.7M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0053%	8h	786.09	−0.072%	$489.3M	$808.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSDlong	+0.0069%	1h	786.66	long leg	$2.5M	$1.2M	50x
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.23	−0.055%	$576K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.82	−0.107%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.90	+0.030%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.40	−0.160%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.29	−0.047%	$51.6M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.92	−0.094%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.50	−0.148%	$138.0M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.30	−0.173%	$53.4M	$112.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.80	−0.109%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.55	−0.141%	$36.3M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.45	−0.154%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.53	−0.144%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.83	+0.022%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.03	−0.080%	$4.0M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.25	−0.052%	$4.1M	$75.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.54	−0.015%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.69	+0.004%	$131K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.07	+0.052%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.53	+0.110%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	+0.043%	$387K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.53	−0.017%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERPshort	+0.0100%	8h	785.98	−0.087%	$76K	$17K	50x
dYdX BNB-USD	+0.0100%	1h	785.67	−0.125%	$159K	$61K	10x	as long as short
Extended BNB-USD	+0.0104%	1h	785.34	−0.168%	$1.8M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.93	+0.035%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	786.44	−0.028%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0144%	8h	786.90	+0.030%	$141K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0173%	8h	787.24	+0.074%	$17.8M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0205%	8h	786.66	0.000%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0256%	1h	786.23	−0.055%	$637K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	786.11	−0.070%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.31	+0.083%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.61	−0.006%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	785.91	−0.095%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0480%	1h	786.12	−0.069%	$67K	$39K	12x	as long as short