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: Kraken Futures against MEXC−0.214%51s7-day average −0.178% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as 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 MEXC Short on Kraken Futures

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−0.361%−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.036% cheaper against MEXC than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.178%). Swap the legs. 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	MEXC BNB_USDT	788.60	0.0044	pay 0.0044% / 8h	7h 45m	$82.0M	$12.1M	200x
Short	Kraken Futures PF_BNBUSD	786.91	−0.0021	pay 0.0003% / 1h	45m 28s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.214%Rate

Funding earned: −$13.56
Price spread: −0.214% → −0.178%: −$3.58
Slippage, 4 orders: −$14.13
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$45.28
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Kraken Futures: 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 MEXC live order book, 4 min ago	1.90 bp	4.3 bp −$4	6.6 bp −$66	17.7 bp −$1,767	34.4 bp −$17.2K
Sell Kraken Futures live order book, 3 min ago	2.98 bp	10.9 bp −$11	13.4 bp −$134	37.1 bp −$3,708	98.1 bp −$49.1K

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	−0.206%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.29	−0.166%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0021%	1h	786.91	−0.214%	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	0.0000%	8h	787.49	−0.141%	$3.0M	$27.6M	10x	as long as short
StandX BNB-USD	0.0000%	1h	787.89	−0.090%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.01	−0.201%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	787.50	−0.139%	$6.0M	$18.5M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.091%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0036%	8h	787.18	−0.180%	—	$22.1M	—	as long as short
Binance BNBUSDT	+0.0043%	8h	787.49	−0.141%	$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_USDTlong	+0.0044%	8h	788.60	long leg	$82.0M	$12.1M	200x
dYdX BNB-USD	+0.0090%	1h	787.07	−0.194%	$157K	$64K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.14	−0.185%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.85	−0.222%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.56	−0.132%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.28	−0.168%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.90	−0.216%	$138.6M	$73.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.90	−0.216%	$53.5M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.20	−0.178%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.05	−0.197%	$39.2M	$55.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.66	−0.246%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.64	−0.249%	$75.5M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.39	−0.153%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.82	−0.226%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	−0.146%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.37	−0.156%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.10	−0.190%	$132K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.02	−0.200%	$265K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.23	−0.174%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.46	−0.144%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.10	−0.190%	$387K	$948K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.39	−0.154%	$1.5M	$141K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.27	−0.169%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.52	−0.137%	$78K	$17K	50x	as long as short
Phemex BNBUSDT	+0.0101%	8h	787.71	−0.113%	$68.7M	$51.1M	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.65	−0.247%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.91	−0.214%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0114%	8h	787.60	−0.127%	$171K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	−0.255%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	787.48	−0.142%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0164%	8h	787.58	−0.129%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0215%	1h	787.68	−0.117%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.52	−0.137%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	786.71	−0.240%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.29	−0.166%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	787.30	−0.164%	$67K	$39K	12x	as long as short