Funding you earn now, next payment 09:00 UTC−0.0121%/8h= −13.2% APRnext payment −$0.15 per $10,000 · paid last 24h +0.001%
Price spread now: Kraken Futures against Polymarket Perps−0.040%7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$390.393% of the position
Funding, last 7 days−0.071%−$7 on $10k
+Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.040%, 7d avg −0.005%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.035% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps BNB-USD | 786.45 | 0.0100 | pay 0.0013% / 1h | 56m 08s | $131K | $942K | 10x |
| Short | Kraken Futures PF_BNBUSD | 786.13 | −0.0021 | pay 0.0003% / 1h | 56m 08s | $2.5M | $1.2M | 50x |
Polymarket Perps BNB-USD
Kraken Futures PF_BNBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Polymarket Perps. 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
- −$25.33
- Price spread: −0.040% → −0.005%
- −$3.53
- Slippage, 4 orders
- −$21.29
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$68.15
- Costs to cover
- 0.393%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 42 min ago; Kraken Futures: live order book, 2 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 Polymarket Perps live order book, 42 min ago | 3.12 bp | 7.8 bp −$8 | 8.0 bp −$80 | 27.2 bp −$2,715 | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 2.10 bp | 11.8 bp −$12 | 15.8 bp −$158 | 33.0 bp −$3,305 | 88.9 bp −$44.4K |
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 | 786.06 | −0.049% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 785.77 | −0.086% | $4K | — | 25x | as long as short |
| Kraken Futures PF_BNBUSDshort | −0.0021% | 1h | 786.13 | −0.040% | $2.5M | $1.2M | 50x | |
| StandX BNB-USD | 0.0000% | 1h | 786.69 | +0.031% | $848K | $2.7M | 30x | as long as short |
| Phemex BNBUSDT | 0.0000% | 8h | 786.89 | +0.056% | $68.6M | $51.1M | 50x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 786.07 | −0.048% | $9.5M | — | 150x | as long as short |
| dYdX BNB-USD | +0.0008% | 1h | 786.34 | −0.014% | $159K | $62K | 10x | as long as short |
| Aster BNBUSDT | +0.0030% | 8h | 786.78 | +0.041% | $6.0M | $18.6M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.370% | $19K | $789K | 30x | as long as short |
| BingX BNB-USDT | +0.0037% | 8h | 786.25 | −0.025% | — | $22.1M | — | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
Phemex BNBUSDT
gTrade (Gains Network) BNB/USD
dYdX BNB-USD
Aster BNBUSDT
Injective BNB/USDC PERP
BingX BNB-USDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BNB_USDT | +0.0045% | 8h | 787.40 | +0.121% | $81.2M | $12.0M | 200x | as long as short |
| Binance BNBUSDT | +0.0046% | 8h | 786.67 | +0.027% | $489.3M | $812.9M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.28 | −0.022% | $2.7M | $3.6M | 20x | as long as short |
| Phoenix BNB | +0.0100% | 1h | 785.66 | −0.100% | $158K | $38K | 10x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.30 | −0.019% | $1.4M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 786.67 | +0.028% | $51.6M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.65 | +0.025% | $1.2M | $937K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 786.00 | −0.057% | $138.4M | $73.4M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.00 | −0.057% | $53.5M | $111.6M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.50 | +0.006% | $52K | $125K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.25 | −0.025% | $39.0M | $55.1M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 785.70 | −0.095% | $27.7M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.68 | −0.098% | $75.4M | $32.6M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 786.44 | −0.001% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 784.64 | −0.230% | $4.0M | $4.7M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 785.31 | −0.145% | $4.1M | $76.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 785.42 | −0.131% | $158K | $439K | 50x | as long as short |
| Polymarket Perps BNB-USDlong | +0.0100% | 1h | 786.45 | long leg | $131K | $942K | 10x | |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 786.23 | −0.028% | $264K | $358K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 786.49 | +0.006% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.73 | +0.036% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.30 | −0.019% | $387K | $954K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.48 | +0.004% | $8.0M | $10.3M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 786.85 | +0.051% | $78K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.80 | −0.083% | $1.8M | $5.8M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.16 | −0.037% | $378K | $110K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0108% | 8h | 786.80 | +0.045% | $171K | $2.6M | 4.8x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0120% | 1h | 786.59 | +0.018% | $548K | $1.9M | 50x | as long as short |
| BloFin BNB-USDT | +0.0166% | 8h | 786.83 | +0.048% | $17.7M | $2.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0185% | 8h | 785.57 | −0.112% | $2.9M | $27.5M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 786.61 | +0.020% | $1.5M | $141K | 25x | as long as short |
| Bulk BNB-USD | +0.0208% | 1h | 785.85 | −0.076% | $637K | $831 | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0232% | 1h | 787.01 | +0.071% | $28K | $3K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0320% | 1h | 786.01 | −0.056% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0355% | 1h | 786.70 | +0.032% | $1.1M | $911K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0432% | 1h | 786.20 | −0.032% | $67K | $39K | 12x | as long as short |
MEXC BNB_USDT
Binance BNBUSDT
Lighter BNB
Phoenix BNB
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Kalshi KXBNBPERP
Coinbase International BNB-PERP-INTX
BloFin BNB-USDT
GRVT BNB_USDT_Perp
Deribit BNB_USDC-PERPETUAL
Bulk BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P