BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0070%/8h= +7.7% APRnext payment +$0.09 per $10,000 · paid last 24h −0.006%

Price spread now: Kraken Futures against Phoenix−0.014%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

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

costs, in and out, $10k−$450.445% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now −0.014%, 7d avg −0.088%

Together, before fees−0.369%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kraken Futures is 0.075% dearer against Phoenix than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.088%. Mind the row above: over the last 7 days funding on this pair cost −0.272%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BNB	787.70	0.0135	pay 0.0017% / 1h	20m 32s	$169K	$35K	10x
Short	Kraken Futures PF_BNBUSD	787.59	0.0205	get 0.0026% / 1h	20m 32s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phoenix. 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 PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now −0.014%Rate

Funding earned: $14.77
Price spread: −0.014% → −0.088%: $7.47
Slippage, 4 orders: −$27.55
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$22.31
Costs to cover: 0.445%
Break-even: 17.6 days

Slippage from Phoenix: live order book, 16 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 Phoenix live order book, 16 min ago	1.02 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.10 bp	10.8 bp −$11	17.8 bp −$178	36.0 bp −$3,599	131.7 bp −$65.9K

BNB on 45 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	787.60	−0.013%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.00	+0.038%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.06	+0.046%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.72	+0.002%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.208%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0051%	8h	788.24	+0.069%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.84	+0.018%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0062%	8h	788.80	+0.140%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	788.33	+0.080%	$491.0M	$819.0M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	+0.032%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	788.26	+0.071%	$68.9M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.051%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.94	+0.030%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.65	−0.006%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.23	+0.067%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.01	+0.040%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.61	−0.011%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.80	+0.013%	$53.6M	$113.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.00	+0.038%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.85	+0.019%	$37.7M	$59.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.39	−0.039%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.50	−0.025%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.09	+0.050%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.037%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.00	+0.038%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.70	0.000%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.62	−0.010%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.68	−0.003%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.26	+0.071%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.80	+0.013%	$387K	$980K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.76	+0.008%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.54	+0.107%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.46	−0.030%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.66	−0.005%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0129%	8h	788.50	+0.102%	$170K	$2.7M	4.8x	as long as short
Phoenix BNBlong	+0.0135%	1h	787.70	long leg	$169K	$35K	10x
BloFin BNB-USDT	+0.0183%	8h	788.19	+0.062%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.09	+0.050%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0205%	1h	787.59	−0.014%	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	+0.0230%	8h	788.19	+0.062%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.37	+0.085%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.079%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.40	−0.038%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.02	+0.040%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0512%	1h	787.65	−0.006%	$67K	$39K	12x	as long as short