BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0105%/8h= −11.5% APRnext payment −$0.13 per $10,000 · paid last 24h +0.005%

Price spread now: Arcus against Kraken Futures+0.036%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Kraken Futures Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now +0.036%, 7d avg +0.103%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Arcus is 0.066% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.103%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.086%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	787.71	0.0205	pay 0.0026% / 1h	20m 17s	$2.5M	$1.2M	50x
Short	Arcus BNB-USD	788.00	0.0100	get 0.0013% / 1h	20m 17s	$52K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kraken Futures. 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 Kraken FuturesbpFee ArcusbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$22.13
Price spread: +0.036% → +0.103%: −$6.64
Slippage, 4 orders: −$23.17
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$66.44
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Arcus: live order book, 23 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 Kraken Futures live order book, 3 min ago	2.10 bp	9.1 bp −$9	14.5 bp −$145	41.8 bp −$4,185	128.5 bp −$64.3K
Sell Arcus live order book, 23 min ago	2.54 bp	10.4 bp −$10	21.7 bp −$217	doesn't fit	doesn't fit

BNB on 45 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	787.74	+0.004%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.00	+0.036%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.46	+0.095%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.72	+0.001%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.206%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0051%	8h	788.39	+0.086%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0051%	8h	788.02	+0.039%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0062%	8h	789.00	+0.163%	$81.2M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	788.26	+0.069%	$490.9M	$819.2M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	+0.030%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0073%	8h	788.43	+0.091%	$68.9M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.053%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.90	+0.024%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	−0.008%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.62	+0.115%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.01	+0.038%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.60	−0.014%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.40	−0.040%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USDshort	+0.0100%	1h	788.00	+0.036%	$52K	$129K	10x
Gate BNB_USDT	+0.0100%	8h	787.85	+0.017%	$37.7M	$59.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.67	−0.006%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.65	−0.008%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.09	+0.048%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.038%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.00	+0.036%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.70	−0.002%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.86	+0.019%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.91	+0.025%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.33	+0.078%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.00	+0.036%	$387K	$980K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.87	+0.020%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.54	+0.105%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.56	−0.019%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.87	+0.020%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0129%	8h	788.40	+0.087%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	−0.002%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0183%	8h	788.19	+0.060%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.30	+0.074%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSDlong	+0.0205%	1h	787.71	long leg	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	+0.0230%	8h	788.19	+0.061%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.37	+0.083%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.077%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.66	−0.007%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.09	+0.048%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0512%	1h	787.65	−0.008%	$67K	$39K	12x	as long as short