Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h −0.002%

Price spread now: Kraken Futures against MEXC−0.109%7-day average −0.179% · 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−$20as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)−0.210%−$21 · spread now −0.109%, 7d avg −0.179%

Together, before fees−0.244%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.070% dearer against MEXC than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	788.90	0.0064	pay 0.0064% / 8h	1h 25m	$81.1M	$12.1M	200x
Short	Kraken Futures PF_BNBUSD	788.04	0.0205	get 0.0026% / 1h	25m 49s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.109%Rate

Funding earned: $29.67
Price spread: −0.109% → −0.179%: $6.99
Slippage, 4 orders: −$13.12
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $9.54
Costs to cover: 0.271%
Break-even: 4.7 days

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 3 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 MEXC live order book, 3 min ago	1.27 bp	3.3 bp −$3	6.5 bp −$65	23.0 bp −$2,300	39.9 bp −$19.9K
Sell Kraken Futures live order book, 3 min ago	3.11 bp	9.8 bp −$10	11.9 bp −$119	32.8 bp −$3,275	106.2 bp −$53.1K

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 −0.0170% / S +0.0337%	1h	787.63	−0.160%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.93	−0.123%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.35	−0.070%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.94	−0.122%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.052%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.74	−0.147%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0052%	8h	788.05	−0.108%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDTlong	+0.0064%	8h	788.90	long leg	$81.1M	$12.1M	200x
Binance BNBUSDT	+0.0065%	8h	788.02	−0.112%	$490.8M	$817.7M	75x	as long as short
dYdX BNB-USD	+0.0072%	1h	788.07	−0.106%	$160K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	788.60	−0.038%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.203%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.76	−0.145%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.73	−0.148%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.16	−0.094%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.77	−0.143%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.59	−0.166%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.50	−0.177%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	−0.089%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.80	−0.139%	$37.6M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.39	−0.191%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.45	−0.184%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.44	−0.058%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.151%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	−0.142%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.02	−0.112%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.02	−0.112%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.98	−0.117%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.364%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.03	−0.110%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.20	−0.089%	$388K	$982K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.42	−0.061%	$8.1M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.17	−0.093%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.56	−0.170%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.10	−0.102%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0135%	1h	787.67	−0.156%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	788.10	−0.101%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	788.11	−0.100%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.45	−0.057%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0205%	1h	788.04	−0.109%	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	+0.0229%	8h	787.15	−0.222%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.82	−0.010%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0291%	1h	787.29	−0.204%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.81	−0.139%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.27	−0.080%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0520%	1h	787.21	−0.214%	$67K	$39K	12x	as long as short