Settings8H · net · $10k
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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:00 UTC+0.0087%/8h= +9.5% APRnext payment +$0.11 per $10,000 · paid last 24h −0.009%
Price spread now: Phoenix against Kraken Futures−0.045%7-day average +0.090% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$470.470% of the position
Long on Kraken FuturesShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.263%+$26 on $10k
Price spread, last 3 days (all we have)+0.274%+$27 · spread now −0.045%, 7d avg +0.090%
Together, before fees+0.537%+$54 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.134% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.090%). If the spread goes back, that is −$13 on $10k: about 5.1 days of funding at the current rate (+$3 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_BNBUSD804.290.0038pay 0.0005% / 1h29m 10s$2.5M$909K50x
ShortPhoenix BNB803.930.0125get 0.0016% / 1h29m 10s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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

Funding earned
$18.25
Price spread: −0.045% → +0.090%
−$13.42
Slippage, 4 orders
−$29.95
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$42.13
Costs to cover
0.470%
Break-even
23.2 days
Slippage from Kraken Futures: live order book, 4 min ago; Phoenix: live order book, 53 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 4 min ago2.43 bp12.3 bp −$1217.7 bp −$17736.9 bp −$3,690doesn't fit
Sell Phoenix live order book, 53 min ago0.99 bp12.3 bp −$1243.2 bp −$432doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h803.87−0.053%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h804.28−0.001%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h804.60+0.039%$3.0M$29.3M10xas long as short
Kalshi KXBNBPERP0.0000%8h804.60+0.039%$112K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h804.09−0.025%$869K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h803.92−0.046%$9.8M—150xas long as short
Kraken Futures PF_BNBUSDlong+0.0038%1h804.29long leg$2.5M$909K50x
Variational Omni BNB+0.0049%8h803.71−0.071%$4.0M$5.4M—as long as short
BingX BNB-USDT+0.0054%8h804.12−0.021%—$34.5M—as long as short
Bybit BNBUSDT+0.0075%8h803.71−0.072%$139.4M$82.8M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.19−0.012%$609K$878K50xas long as short
Aster BNBUSDT+0.0090%8h804.60+0.039%$6.4M$18.8M200xas long as short
Lighter BNB+0.0096%1h804.30+0.001%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h803.76−0.065%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h804.19−0.012%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h803.80−0.061%$55.1M$115.5M50xas long as short
Arcus BNB-USD+0.0100%1h804.30+0.001%$53K$165K10xas long as short
Gate BNB_USDT+0.0100%8h804.00−0.036%$35.9M$58.5M75xas long as short
KuCoin BNBUSDTM+0.0100%8h803.88−0.051%$28.1M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h803.81−0.060%$79.1M$24.5M75xas long as short
edgeX BNBUSDC+0.0100%4h804.62+0.041%$4.2M$76.9M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.73+0.055%$159K$438K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h803.85−0.055%$118K$868K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h804.14−0.018%$389K$593K50xas long as short
Derive BNB-PERP+0.0100%1h804.27−0.002%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h804.66+0.046%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h804.61+0.040%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h804.24−0.006%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h804.69+0.050%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h803.73−0.069%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h804.15−0.017%$386K$40K10xas long as short
MEXC BNB_USDT+0.0106%8h805.10+0.101%$84.4M$13.6M200xas long as short
Binance BNBUSDT+0.0107%8h804.78+0.061%$519.2M$803.1M75xas long as short
Phemex BNBUSDT+0.0125%8h804.61+0.040%$70.2M$51.7M50xas long as short
Phoenix BNBshort+0.0125%1h803.93−0.045%$173K$35K10x
Hyperliquid BNB+0.0161%1h804.79+0.062%$51.7M$21.3M10xas long as short
SoDEX BNB-USD+0.0181%1h804.10−0.023%$396K$1.0M10xas long as short
Bulk BNB-USD+0.0197%1h804.34+0.006%$650K$11K10xas long as short
RISEx BNB/USDC+0.0209%1h804.35+0.007%$1.1M$1.4M20xas long as short
BloFin BNB-USDT+0.0227%8h804.67+0.047%$18.8M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0240%1h804.11−0.023%$71K$48K12xas long as short
dYdX BNB-USD+0.0272%1h804.28−0.001%$170K$55K10xas long as short
01 Exchange BNBUSD+0.0328%1h804.92+0.078%$28K$1K10xas long as short
Reya BNBRUSDPERP+0.0334%1h803.68−0.076%$6K$3K40xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89+0.075%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0653%1h805.01+0.090%$3.0M$5.4M40xas long as short