Funding you earn now, next payment 01:00 UTC−0.0221%/8h= −24.1% APRpaid last 24h +0.019%
Price spread now: Kraken Futures against Orderly+0.012%7-day average −0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.084%−$8 on $10k
+Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.012%, 7d avg −0.040%
=The price spread pays, funding is against you. Kraken Futures is 0.053% dearer against Orderly than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.040%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.084% in total) that is about 4.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.084% in total (about -4.4% a year). A funding rate is set anew for every payment. 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 | Orderly PERP_BNB_USDC | 798.99 | 0.0100 | pay 0.0100% / 8h | 7h 59m | $386K | $494K | 50x |
| Short | Kraken Futures PF_BNBUSD | 799.09 | −0.0121 | pay 0.0015% / 1h | 59m 19s | $2.5M | $975K | 50x |
Orderly PERP_BNB_USDC
Kraken Futures PF_BNBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$46.31
- Price spread: +0.012% → −0.040%
- $5.26
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$57.05
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 4 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 4 min ago | 3.19 bp | 11.5 bp −$12 | 16.8 bp −$168 | 31.2 bp −$3,125 | 100.3 bp −$50.1K |
Orderly: 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 −0.0201% / S +0.0372% | 1h | 799.05 | +0.008% | $47K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSDshort | −0.0121% | 1h | 799.09 | +0.012% | $2.5M | $975K | 50x | |
| Hotstuff BNB-PERP | −0.0080% | 1h | 799.82 | +0.104% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 799.73 | +0.092% | $3.0M | $27.9M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 800.22 | +0.154% | $865K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 799.08 | +0.012% | $9.7M | — | 150x | as long as short |
| Variational Omni BNB | +0.0009% | 8h | 798.84 | −0.019% | $4.1M | $5.4M | — | as long as short |
| BingX BNB-USDC | +0.0030% | 8h | 799.34 | +0.044% | — | $13.4M | — | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +0.763% | $19K | $789K | 30x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0048% | 1h | 798.68 | −0.039% | $602K | $985K | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDC
Injective BNB/USDC PERP
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BNBUSDT | +0.0077% | 8h | 799.65 | +0.083% | $6.2M | $19.3M | 200x | as long as short |
| Phemex BNBUSDT | +0.0092% | 8h | 800.02 | +0.129% | $70.0M | $50.7M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 799.25 | +0.032% | $2.8M | $4.0M | 20x | as long as short |
| Binance BNBUSDT | +0.0097% | 8h | 799.52 | +0.066% | $497.7M | $818.8M | 75x | as long as short |
| MEXC BNB_USDT | +0.0097% | 8h | 799.80 | +0.101% | $83.1M | $13.5M | 200x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 798.95 | −0.005% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 799.48 | +0.061% | $1.2M | $925K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 798.83 | −0.020% | $138.7M | $76.9M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 798.80 | −0.024% | $54.4M | $112.8M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 799.40 | +0.051% | $53K | $133K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 798.80 | −0.024% | $35.8M | $55.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 799.19 | +0.025% | $28.0M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 798.84 | −0.019% | $78.9M | $27.6M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 799.66 | +0.084% | $4.2M | $76.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 799.37 | +0.048% | $161K | $436K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 799.05 | +0.008% | $116K | $872K | 10x | as long as short |
| Orderly PERP_BNB_USDClong | +0.0100% | 8h | 798.99 | long leg | $386K | $494K | 50x | |
| Derive BNB-PERP | +0.0100% | 1h | 799.16 | +0.021% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 799.62 | +0.078% | $13K | $1.7M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 799.30 | +0.039% | $393K | $1.0M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0100% | 1h | 799.49 | +0.062% | $1.6M | $165K | 25x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 799.71 | +0.090% | $8.2M | $8.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 799.90 | +0.114% | $78K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 798.68 | −0.039% | $1.8M | $6.6M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 799.15 | +0.020% | $384K | $40K | 10x | as long as short |
| Phoenix BNB | +0.0127% | 1h | 799.98 | +0.124% | $172K | $35K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0152% | 1h | 799.60 | +0.077% | $70K | $43K | 12x | as long as short |
| Kalshi KXBNBPERP | +0.0154% | 8h | 799.70 | +0.089% | $91K | $2.9M | 4.8x | as long as short |
| RISEx BNB/USDC | +0.0155% | 1h | 799.30 | +0.039% | $1.1M | $1.4M | 20x | as long as short |
| Hyperliquid BNB | +0.0171% | 1h | 799.89 | +0.113% | $52.5M | $20.8M | 10x | as long as short |
| Bulk BNB-USD | +0.0191% | 1h | 798.83 | −0.021% | $649K | $17K | 10x | as long as short |
| BloFin BNB-USDT | +0.0217% | 8h | 800.12 | +0.141% | $18.1M | $2.5M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0248% | 1h | 799.80 | +0.101% | $28K | $1K | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0308% | 1h | 800.23 | +0.155% | $2.7M | $5.7M | 40x | as long as short |
| dYdX BNB-USD | +0.0325% | 1h | 799.59 | +0.075% | $161K | $63K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0331% | 1h | 798.72 | −0.034% | $6K | $3K | 40x | as long as short |
Aster BNBUSDT
Phemex BNBUSDT
Lighter BNB
Binance BNBUSDT
MEXC BNB_USDT
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
Deribit BNB_USDC-PERPETUAL
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Hibachi BNB/USDT-P
Kalshi KXBNBPERP
RISEx BNB/USDC
Hyperliquid BNB
Bulk BNB-USD
BloFin BNB-USDT
01 Exchange BNBUSD
Backpack BNB_USDC_PERP
dYdX BNB-USD
Reya BNBRUSDPERP