Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.002%

Price spread now: SunX against Kraken Futures+0.090%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$9 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.090%, 7d avg +0.084%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.084%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	787.95	0.0069	pay 0.0009% / 1h	10m 55s	$2.5M	$1.2M	50x
Short	SunX BNB-USDT	788.66	0.0100	get 0.0100% / 8h	2h 10m	$12K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.090%Rate

Funding earned: $6.5
Price spread: +0.090% → +0.084%: $0.63
Slippage, 4 orders: −$49.89
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$60.75
Costs to cover: 0.679%
Break-even: 72.4 days

Slippage from Kraken Futures: live order book, 3 min ago; SunX: live order book, 4 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	3.17 bp	11.4 bp −$11	14.5 bp −$145	32.5 bp −$3,253	95.0 bp −$47.5K
Sell SunX live order book, 4 min ago	15.06 bp	23.5 bp −$24	30.7 bp −$307	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 −0.0192% / S +0.0356%	1h	787.81	−0.018%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.37	−0.074%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.36	+0.052%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.92	−0.003%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.175%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	788.52	+0.072%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0048%	8h	787.88	−0.009%	—	$22.2M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	788.66	+0.090%	$69.0M	$50.8M	50x	as long as short
MEXC BNB_USDT	+0.0064%	8h	788.50	+0.070%	$80.7M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	788.29	+0.043%	$491.1M	$814.5M	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	787.95	long leg	$2.5M	$1.2M	50x
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.267%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.21	+0.033%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.98	+0.004%	$265K	$490K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.75	−0.025%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.61	+0.084%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.85	−0.013%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.66	−0.037%	$138.6M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.50	−0.057%	$53.6M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.80	−0.019%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.05	+0.013%	$36.8M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.79	−0.020%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.41	−0.069%	$76.2M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.36	+0.052%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.32	−0.207%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	−0.022%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.81	−0.018%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.76	−0.024%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.21	+0.033%	$31K	$12K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	788.66	+0.090%	$12K	$1.5M	50x
HTX BNB-USDT	+0.0100%	8h	787.63	−0.041%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.09	+0.018%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.33	−0.079%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.05	+0.013%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.24	−0.090%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0133%	1h	788.10	+0.019%	$387K	$992K	10x	as long as short
Kalshi KXBNBPERP	+0.0138%	8h	788.20	+0.032%	$161K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0151%	1h	787.74	−0.026%	$160K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0186%	8h	788.56	+0.077%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0219%	8h	787.26	−0.087%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.47	+0.066%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.42	+0.060%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.70	−0.031%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0378%	1h	788.15	+0.025%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	787.96	+0.001%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	787.67	−0.035%	$67K	$39K	12x	as long as short