Funding you earn now, next payment 04:00 UTC−0.0163%/8h= −17.9% APRnext payment −$0.20 per $10,000 · paid last 24h −0.005%
Price spread now: Polymarket Perps against Kraken Futures+0.046%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$380.382% of the position
Funding, last 7 days+0.071%+$7 on $10k
+Price spread, last 4 days (all we have)+0.123%+$12 · spread now +0.046%, 7d avg +0.003%
=The price spread pays, funding is against you. Polymarket Perps is 0.043% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of +0.003%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 21 hours. Mind the row above: over the last 7 days funding on this pair paid +0.071%, 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 | 789.24 | 0.0263 | pay 0.0033% / 1h | 37m 49s | $2.5M | $1.2M | 50x |
| Short | Polymarket Perps BNB-USD | 789.60 | 0.0100 | get 0.0013% / 1h | 37m 49s | $133K | $950K | 10x |
Kraken Futures PF_BNBUSD
Polymarket Perps BNB-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$34.3
- Price spread: +0.046% → +0.003%
- $4.27
- Slippage, 4 orders
- −$20.23
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$68.25
- Costs to cover
- 0.382%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Polymarket Perps: live order book, 20 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, 1 min ago | 4.49 bp | 12.7 bp −$13 | 14.5 bp −$145 | 33.2 bp −$3,319 | 112.5 bp −$56.2K |
| Sell Polymarket Perps live order book, 20 min ago | 1.58 bp | 7.1 bp −$7 | 8.5 bp −$85 | doesn't fit | 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 −0.0185% / S +0.0350% | 1h | 789.65 | +0.053% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 789.40 | +0.021% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.98 | +0.094% | $854K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 789.61 | +0.047% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.009% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0040% | 8h | 790.05 | +0.103% | $6.1M | $18.7M | 200x | as long as short |
| BingX BNB-USDT | +0.0053% | 8h | 789.53 | +0.037% | — | $34.4M | — | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0064% | 1h | 789.45 | +0.027% | $582K | $1.9M | 50x | as long as short |
| Phemex BNBUSDT | +0.0064% | 8h | 789.94 | +0.089% | $69.1M | $49.9M | 50x | as long as short |
| Binance BNBUSDT | +0.0066% | 8h | 790.01 | +0.099% | $493.1M | $789.1M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDT
Coinbase International BNB-PERP-INTX
Phemex BNBUSDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BNB_USDT | +0.0066% | 8h | 790.20 | +0.122% | $80.2M | $12.3M | 200x | as long as short |
| Lighter BNB | +0.0096% | 1h | 789.35 | +0.014% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 789.81 | +0.073% | $266K | $492K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 788.80 | −0.055% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 789.85 | +0.078% | $51.8M | $17.5M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 789.29 | +0.007% | $1.2M | $931K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 789.20 | −0.005% | $138.8M | $74.7M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 789.20 | −0.005% | $53.4M | $111.1M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 789.50 | +0.033% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 789.35 | +0.014% | $35.4M | $56.7M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 789.35 | +0.014% | $27.6M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 789.12 | −0.015% | $76.3M | $30.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 789.92 | +0.087% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 788.90 | −0.042% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 790.18 | +0.119% | $4.1M | $73.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 789.91 | +0.085% | $159K | $441K | 50x | as long as short |
| Polymarket Perps BNB-USDshort | +0.0100% | 1h | 789.60 | +0.046% | $133K | $950K | 10x | |
| Derive BNB-PERP | +0.0100% | 1h | 789.90 | +0.084% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 789.66 | +0.053% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 789.60 | +0.046% | $388K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 789.53 | +0.037% | $8.1M | $9.4M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 789.79 | +0.070% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 789.05 | −0.023% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 789.84 | +0.077% | $379K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0117% | 1h | 789.39 | +0.019% | $170K | $35K | 10x | as long as short |
| dYdX BNB-USD | +0.0124% | 1h | 788.93 | −0.039% | $160K | $64K | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0137% | 8h | 789.99 | +0.095% | $2.9M | $28.2M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0180% | 8h | 789.70 | +0.059% | $124K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0187% | 8h | 789.44 | +0.026% | $18.1M | $2.2M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0224% | 1h | 790.09 | +0.108% | $28K | $4K | 10x | as long as short |
| Kraken Futures PF_BNBUSDlong | +0.0263% | 1h | 789.24 | long leg | $2.5M | $1.2M | 50x | |
| Bulk BNB-USD | +0.0272% | 1h | 789.78 | +0.069% | $640K | $9K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0326% | 1h | 789.30 | +0.008% | $6K | $3K | 40x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0400% | 1h | 790.26 | +0.130% | $1.5M | $143K | 25x | as long as short |
| RISEx BNB/USDC | +0.0461% | 1h | 789.64 | +0.052% | $1.1M | $973K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0472% | 1h | 789.36 | +0.015% | $67K | $38K | 12x | as long as short |
MEXC BNB_USDT
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
dYdX BNB-USD
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
BloFin BNB-USDT
01 Exchange BNBUSD
Bulk BNB-USD
Reya BNBRUSDPERP
Deribit BNB_USDC-PERPETUAL
RISEx BNB/USDC
Hibachi BNB/USDT-P