Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.015%

Price spread now: BingX against Kraken Futures+0.058%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.058%, 7d avg +0.020%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.037% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of +0.020%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	787.82	0.0069	pay 0.0009% / 1h	1m 47s	$2.5M	$1.2M	50x
Short	BingX BNB-USDC	788.28	0.0050	get 0.0050% / 8h	2h 01m	—	$13.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$4
Price spread: +0.058% → +0.020%: $3.74
Slippage, 4 orders: −$14.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$35.23
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; BingX: live order book, 6 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, 2 min ago	2.73 bp	9.4 bp −$9	15.7 bp −$157	37.6 bp −$3,759	93.6 bp −$46.8K
Sell BingX live order book, 6 min ago	0.19 bp	7.2 bp −$7	10.6 bp −$106	24.0 bp −$2,396	71.0 bp −$35.5K

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 −0.0192% / S +0.0356%	1h	787.82	−0.001%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.88	+0.134%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.04	+0.154%	$851K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.87	+0.006%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.192%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0045%	8h	788.61	+0.100%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDCshort	+0.0050%	8h	788.28	+0.058%	—	$13.4M	—
Phemex BNBUSDT	+0.0065%	8h	788.54	+0.091%	$69.0M	$50.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	788.80	+0.124%	$81.0M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	788.47	+0.082%	$490.7M	$816.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSDlong	+0.0069%	1h	787.82	long leg	$2.5M	$1.2M	50x
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	+0.071%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.19	+0.046%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.88	+0.007%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.85	+0.003%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.69	+0.110%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.15	+0.041%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.90	+0.010%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.80	−0.003%	$53.6M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	+0.048%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.00	+0.022%	$36.9M	$59.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.75	−0.009%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.73	−0.012%	$76.3M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.30	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.41	+0.075%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.04	+0.155%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.84	+0.129%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.86	+0.005%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.08	+0.033%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.48	+0.084%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.14	+0.040%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.23	+0.052%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.62	−0.026%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.98	+0.020%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.92	+0.139%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0110%	1h	788.00	+0.022%	$387K	$988K	10x	as long as short
dYdX BNB-USD	+0.0126%	1h	787.75	−0.009%	$160K	$62K	10x	as long as short
Kalshi KXBNBPERP	+0.0145%	8h	788.40	+0.073%	$164K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	788.60	+0.098%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0224%	8h	788.87	+0.133%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.35	+0.067%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.60	+0.098%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.78	−0.005%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.095%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	788.25	+0.053%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	788.28	+0.058%	$67K	$39K	12x	as long as short