Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0106%/8h= +11.7% APRpaid last 24h +0.017%

Price spread now: Kraken Futures against OKX+0.013%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)−0.068%−$7 · spread now +0.013%, 7d avg +0.018%

Together, before fees−0.098%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BNB-USDT-SWAP	801.00	0.0100	pay 0.0100% / 8h	1h 29m	$54.9M	$117.4M	50x
Short	Kraken Futures PF_BNBUSD	801.11	0.0206	get 0.0026% / 1h	29m 50s	$2.6M	$983K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.013%Rate

Funding earned: $22.35
Price spread: +0.013% → +0.018%: −$0.41
Slippage, 4 orders: −$13.45
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$11.51
Costs to cover: 0.335%
Break-even: 10.6 days

Slippage from OKX: live order book, 4 min ago; Kraken Futures: 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 OKX live order book, 4 min ago	0.62 bp	5.6 bp −$6	6.9 bp −$69	20.6 bp −$2,059	doesn't fit
Sell Kraken Futures live order book, 4 min ago	4.68 bp	9.9 bp −$10	11.3 bp −$113	37.0 bp −$3,698	126.6 bp −$63.3K

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 −0.0201% / S +0.0372%	1h	800.91	−0.011%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.22	+0.027%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.39	+0.548%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.50	+0.062%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.20	+0.150%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.92	−0.010%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	−0.019%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0067%	8h	801.18	+0.022%	—	$35.0M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	800.82	−0.022%	$139.5M	$83.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.33	+0.041%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.19	+0.024%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	801.45	+0.057%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.51	−0.061%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.91	−0.011%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAPlong	+0.0100%	8h	801.00	long leg	$54.9M	$117.4M	50x
Arcus BNB-USD	+0.0100%	1h	801.20	+0.025%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.95	−0.006%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.89	−0.014%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.04	+0.005%	$81.0M	$26.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	802.78	+0.223%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	+0.182%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.75	−0.031%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.91	−0.011%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.14	+0.017%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.57	+0.071%	$12K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.56	+0.070%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.52	+0.065%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.79	−0.026%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.11	+0.014%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	802.20	+0.150%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.83	+0.104%	$517.2M	$829.5M	75x	as long as short
Phemex BNBUSDT	+0.0130%	8h	801.50	+0.062%	$70.0M	$51.7M	50x	as long as short
SoDEX BNB-USD	+0.0131%	1h	801.10	+0.012%	$394K	$1.0M	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	801.47	+0.058%	$71K	$48K	12x	as long as short
Phoenix BNB	+0.0155%	1h	804.78	+0.472%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0167%	1h	800.67	−0.042%	$161K	$62K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.35	+0.044%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0206%	1h	801.11	+0.013%	$2.6M	$983K	50x
BloFin BNB-USDT	+0.0239%	8h	801.60	+0.075%	$18.8M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0273%	1h	802.24	+0.155%	$51.9M	$22.2M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.511%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	800.97	−0.004%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.60	−0.050%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	801.54	+0.067%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	+0.073%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0665%	1h	801.91	+0.114%	$3.0M	$5.5M	40x	as long as short