Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h −0.038%

Price spread now: Kraken Futures against BloFin−0.089%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.089%, 7d avg −0.093%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.093%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.262%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	787.15	0.0187	pay 0.0187% / 8h	1h 42m	$17.8M	$2.2M	75x
Short	Kraken Futures PF_BNBUSD	786.45	0.0206	get 0.0026% / 1h	42m 23s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.089%Rate

Funding earned: $3.99
Price spread: −0.089% → −0.093%: $0.41
Slippage, 4 orders: −$13.36
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$30.96
Costs to cover: 0.354%
Break-even: 61.3 days

Slippage from BloFin: live order book, 7 min ago; Kraken Futures: live order book, 1 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 BloFin live order book, 7 min ago	1.52 bp	7.7 bp −$8	8.9 bp −$89	15.7 bp −$1,572	doesn't fit
Sell Kraken Futures live order book, 1 min ago	3.50 bp	9.4 bp −$9	13.1 bp −$131	33.0 bp −$3,298	99.3 bp −$49.7K

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 −0.0170% / S +0.0337%	1h	786.32	−0.106%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.70	−0.057%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.028%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.31	−0.107%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.279%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0049%	8h	786.81	−0.043%	$6.0M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0053%	8h	786.49	−0.084%	—	$22.2M	—	as long as short
dYdX BNB-USD	+0.0064%	1h	786.47	−0.087%	$159K	$62K	10x	as long as short
MEXC BNB_USDT	+0.0066%	8h	787.30	+0.019%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	786.81	−0.044%	$490.2M	$816.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0076%	8h	787.24	+0.011%	$68.9M	$50.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	−0.034%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.38	−0.098%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.20	−0.121%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.50	−0.083%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.21	−0.119%	$138.4M	$75.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.108%	$53.5M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	−0.083%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.089%	$37.2M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.18	−0.123%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.07	−0.137%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.157%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.84	−0.039%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.27	−0.112%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.22	−0.118%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.36	−0.100%	$264K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.58	−0.073%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.07	−0.010%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.80	−0.044%	$387K	$984K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.79	−0.045%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.69	−0.059%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.88	−0.162%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.40	−0.095%	$378K	$110K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0109%	1h	787.00	−0.019%	$2.2M	$6.1M	40x	as long as short
Hyperliquid BNB	+0.0113%	1h	786.88	−0.034%	$51.5M	$17.7M	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.68	−0.060%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0140%	8h	787.10	−0.006%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDTlong	+0.0187%	8h	787.15	long leg	$17.8M	$2.2M	75x
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.80	−0.045%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0206%	1h	786.45	−0.089%	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	+0.0227%	8h	787.04	−0.014%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	786.83	−0.041%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0305%	1h	787.08	−0.008%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.06	−0.139%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.56	−0.074%	$1.1M	$914K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	787.00	−0.019%	$67K	$39K	12x	as long as short