Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.006%

Price spread now: OKX against Kraken Futures−0.036%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)+0.272%+$27 · spread now −0.036%, 7d avg −0.018%

Together, before fees+0.317%+$32 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	790.08	0.0091	pay 0.0011% / 1h	1m 56s	$2.5M	$1.2M	50x
Short	OKX BNB-USDT-SWAP	789.80	0.0100	get 0.0100% / 8h	5h 01m	$53.4M	$111.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $1.89
Price spread: −0.036% → −0.018%: −$1.73
Slippage, 4 orders: −$15.57
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$35.42
Costs to cover: 0.356%
Break-even: 138.1 days

Slippage from Kraken Futures: live order book, 2 min ago; OKX: live order book, 2 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	3.86 bp	10.4 bp −$10	13.2 bp −$132	32.7 bp −$3,270	137.0 bp −$68.5K
Sell OKX live order book, 2 min ago	0.63 bp	5.6 bp −$6	7.4 bp −$74	19.2 bp −$1,916	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 −0.0181% / S +0.0347%	1h	790.10	+0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.60	+0.066%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.07	+0.125%	$855K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	790.10	+0.003%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.900%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0047%	8h	790.58	+0.063%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	790.10	+0.002%	$590K	$1.9M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	790.24	+0.020%	—	$34.3M	—	as long as short
Phemex BNBUSDT	+0.0064%	8h	790.74	+0.083%	$69.3M	$50.3M	50x	as long as short
MEXC BNB_USDT	+0.0071%	8h	791.20	+0.142%	$80.4M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0071%	8h	790.64	+0.071%	$493.5M	$791.3M	75x	as long as short
Kraken Futures PF_BNBUSDlong	+0.0091%	1h	790.08	long leg	$2.5M	$1.2M	50x
Lighter BNB	+0.0096%	1h	790.42	+0.043%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.25	+0.021%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.10	+0.002%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.79	+0.090%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.55	+0.059%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.80	−0.036%	$139.0M	$75.8M	75x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	789.80	−0.036%	$53.4M	$111.7M	50x
Arcus BNB-USD	+0.0100%	1h	790.50	+0.053%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.05	−0.004%	$35.4M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.94	−0.018%	$27.7M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.70	−0.048%	$76.5M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.49	+0.052%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.30	−0.099%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.24	+0.019%	$4.1M	$74.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.01	−0.009%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.99	−0.012%	$133K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.39	+0.039%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.90	+0.104%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.30	+0.028%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.10	+0.003%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	790.95	+0.110%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.65	−0.054%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.95	−0.017%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.39	+0.039%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0138%	8h	790.45	+0.047%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	791.20	+0.142%	$105K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0191%	1h	789.65	−0.054%	$160K	$64K	10x	as long as short
BloFin BNB-USDT	+0.0191%	8h	790.74	+0.083%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	790.81	+0.092%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.67	+0.075%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.65	−0.055%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0338%	1h	790.78	+0.088%	$640K	$9K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	790.59	+0.065%	$1.1M	$979K	20x	as long as short
Hibachi BNB/USDT-P	+0.0576%	1h	790.23	+0.019%	$67K	$38K	12x	as long as short