Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0314%/8h= +34.4% APRpaid last 24h +0.027%

Price spread now: BloFin against Kraken Futures+0.285%597s7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.338% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 3 days (all we have)−0.202%−$20 · spread now +0.285%, 7d avg +0.094%

Together, before fees+0.055%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.192% dearer against Kraken Futures than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.094%. The two prices were read 597 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	791.80	−0.0132	get 0.0016% / 1h	38m 51s	$2.5M	$1.0M	50x
Short	BloFin BNB-USDT	794.06	0.0182	get 0.0182% / 8h	6h 38m	$18.1M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.285%Rate

Funding earned: $66.02
Price spread: +0.285% → +0.094%: $19.18
Slippage, 4 orders: −$11.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $51.37
Costs to cover: 0.338%
Break-even: 1.6 days

Slippage from Kraken Futures: live order book, 5 min ago; BloFin: live order book, 10 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, 5 min ago	4.03 bp	10.1 bp −$10	13.1 bp −$131	36.2 bp −$3,624	142.7 bp −$71.4K
Sell BloFin live order book, 10 min ago	0.13 bp	6.1 bp −$6	7.4 bp −$74	14.1 bp −$1,414	doesn't fit

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 −0.0167% / S +0.0335%	1h	791.46	−0.043%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0132%	1h	791.80	long leg	$2.5M	$1.0M	50x
Hotstuff BNB-PERP	−0.0080%	1h	790.94	−0.109%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0008%	8h	791.40	−0.050%	$35.3M	$55.6M	75x	as long as short
StandX BNB-USD	0.0000%	1h	790.95	−0.107%	$855K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.61	−0.025%	$9.6M	—	150x	as long as short
Variational Omni BNB	+0.0016%	8h	791.83	+0.004%	$4.1M	$5.0M	—	as long as short
GRVT BNB_USDT_Perp	+0.0023%	8h	792.65	+0.107%	$3.0M	$28.6M	10x	as long as short
Aster BNBUSDT	+0.0028%	8h	792.15	+0.044%	$6.1M	$19.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.679%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0039%	1h	791.10	−0.089%	$160K	$63K	10x	as long as short
BingX BNB-USDT	+0.0049%	8h	791.67	−0.016%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.080%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	792.40	+0.076%	$82.1M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	792.06	+0.033%	$492.7M	$817.3M	75x	as long as short
Phemex BNBUSDT	+0.0075%	8h	792.18	+0.048%	$69.3M	$50.5M	50x	as long as short
Phoenix BNB	+0.0088%	1h	793.58	+0.225%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	791.54	−0.033%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.47	−0.042%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.10	−0.088%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	791.56	−0.030%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.33	−0.059%	$138.0M	$77.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.30	−0.063%	$53.1M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.40	−0.050%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.34	−0.058%	$27.6M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.15	−0.082%	$77.1M	$28.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.83	+0.257%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.01	+0.279%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.52	−0.035%	$111K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.69	−0.014%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.21	+0.052%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.70	−0.013%	$389K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.89	−0.115%	$8.1M	$8.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	791.59	−0.027%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.21	−0.075%	$1.7M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.60	−0.026%	$380K	$110K	10x	as long as short
Hyperliquid BNB	+0.0107%	1h	791.86	+0.008%	$51.9M	$19.8M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	791.25	−0.069%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	791.70	−0.013%	$111K	$2.8M	4.8x	as long as short
Bulk BNB-USD	+0.0167%	1h	793.21	+0.178%	$644K	$10K	10x	as long as short
BloFin BNB-USDTshort	+0.0182%	8h	794.06	+0.285%	$18.1M	$2.5M	75x
01 Exchange BNBUSD	+0.0240%	1h	791.51	−0.037%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	791.26	−0.068%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0394%	1h	792.52	+0.091%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	792.10	+0.038%	$1.5M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	790.50	−0.164%	$68K	$38K	12x	as long as short