Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h 0.000%

Price spread now: Kraken Futures against Gate+0.007%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.007%, 7d avg +0.005%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, 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	Gate BNB_USDT	786.65	0.0100	pay 0.0100% / 8h	59m 53s	$38.0M	$59.6M	75x
Short	Kraken Futures PF_BNBUSD	786.71	0.0206	get 0.0026% / 1h	59m 53s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.007%Rate

Funding earned: $22.18
Price spread: +0.007% → +0.005%: $0.21
Slippage, 4 orders: −$12.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$15.52
Costs to cover: 0.379%
Break-even: 11.9 days

Slippage from Gate: 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 Gate live order book, 4 min ago	0.32 bp	9.6 bp −$10	13.1 bp −$131	28.1 bp −$2,807	57.2 bp −$28.6K
Sell Kraken Futures live order book, 4 min ago	2.41 bp	10.4 bp −$10	13.4 bp −$134	29.3 bp −$2,932	99.3 bp −$49.6K

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	786.71	+0.008%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.78	+0.017%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.83	+0.150%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.71	+0.007%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.344%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0046%	8h	786.82	+0.022%	—	$22.4M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	787.10	+0.057%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0057%	8h	787.80	+0.146%	$81.0M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	787.09	+0.056%	$489.2M	$821.5M	75x	as long as short
dYdX BNB-USD	+0.0065%	1h	786.64	−0.001%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	787.38	+0.093%	$68.8M	$51.4M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.43	+0.099%	$564K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.93	+0.036%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.05	−0.076%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.26	+0.078%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.50	−0.019%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	−0.032%	$138.4M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.40	−0.032%	$53.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.006%	$52K	$129K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	786.65	long leg	$38.0M	$59.6M	75x
KuCoin BNBUSDTM	+0.0100%	8h	786.51	−0.018%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.33	−0.041%	$76.7M	$31.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.15	+0.064%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.094%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.27	+0.079%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.69	+0.132%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.60	−0.006%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.78	+0.017%	$265K	$454K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.05	+0.051%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.78	+0.016%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.90	+0.032%	$387K	$976K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.64	−0.001%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.89	+0.031%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.13	−0.066%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.79	+0.018%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	787.00	+0.044%	$171K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.76	+0.141%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	786.92	+0.034%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.22	+0.073%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0206%	1h	786.71	+0.007%	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	+0.0227%	8h	787.38	+0.093%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0230%	1h	786.88	+0.029%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.10	+0.057%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.41	−0.030%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.76	+0.014%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	786.61	−0.006%	$67K	$39K	12x	as long as short