BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0185%/8h= −20.3% APRnext payment −$0.23 per $10,000 · paid last 24h −0.002%

Price spread now: Kraken Futures against Pacifica−0.061%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Pacifica Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now −0.061%, 7d avg −0.041%

Together, before fees−0.232%+ Points / potential airdropPacifica: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.020% cheaper against Pacifica than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.041%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.106% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BNB	787.88	0.0100	pay 0.0013% / 1h	57m 50s	$1.2M	$932K	20x
Short	Kraken Futures PF_BNBUSD	787.40	−0.0085	pay 0.0011% / 1h	57m 50s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Pacifica. 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 PacificabpFee Kraken FuturesbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$38.94
Price spread: −0.061% → −0.041%: −$2.04
Slippage, 4 orders: −$16.58
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$75.55
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Pacifica: 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 Pacifica live order book, 4 min ago	1.08 bp	7.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	3.05 bp	11.9 bp −$12	16.2 bp −$162	32.5 bp −$3,254	85.1 bp −$42.6K

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	787.50	−0.047%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0085%	1h	787.40	−0.061%	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	788.09	+0.027%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.95	+0.010%	$5.9M	$17.2M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.90	+0.003%	$2.9M	$26.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.00	+0.016%	$139K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.28	+0.051%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.41	−0.059%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0017%	8h	789.20	+0.168%	$83.4M	$11.7M	200x	as long as short
Binance BNBUSDT	+0.0017%	8h	788.00	+0.015%	$481.7M	$768.9M	75x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.185%	$19K	$789K	30x	as long as short
Bybit BNBUSDT	+0.0055%	8h	787.11	−0.097%	$138.5M	$67.3M	75x	as long as short
BloFin BNB-USDT	+0.0070%	8h	788.17	+0.037%	$18.4M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0089%	8h	788.09	+0.027%	$68.5M	$51.1M	50x	as long as short
Phoenix BNB	+0.0094%	1h	787.98	+0.013%	$158K	$44K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.47	−0.052%	$2.7M	$3.3M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.40	−0.061%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.00	+0.016%	$51.9M	$16.9M	10x	as long as short
Pacifica BNBlong	+0.0100%	1h	787.88	long leg	$1.2M	$932K	20x
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.073%	$53.3M	$102.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.80	−0.010%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.35	−0.067%	$41.1M	$53.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.25	−0.080%	$28.2M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.20	−0.086%	$75.6M	$31.0M	75x	as long as short
BingX BNB-USDT	+0.0100%	8h	787.58	−0.038%	—	$50.2M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.91	+0.004%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.17	−0.090%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.96	+0.011%	$4.1M	$75.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	+0.040%	$159K	$444K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.54	−0.043%	$130K	$905K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.51	−0.047%	$265K	$297K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.09	+0.027%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.035%	$387K	$926K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.79	−0.011%	$1.5M	$157K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.86	−0.002%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.04	+0.020%	$78K	$356K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.99	−0.113%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.50	−0.048%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	788.03	+0.019%	$545K	$1.9M	50x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.01	+0.017%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0277%	1h	788.58	+0.089%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	787.04	−0.106%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	787.86	−0.002%	$67K	$37K	12x	as long as short
dYdX BNB-USD	+0.0377%	1h	788.12	+0.031%	$158K	$34K	10x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.84	−0.004%	$1.1M	$901K	20x	as long as short