Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h −0.002%

Price spread now: Kraken Futures against SunX−0.078%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$640.638% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.078%, 7d avg −0.083%

Together, before fees−0.073%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.083%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.099% in total (about -5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BNB-USDT	787.75	0.0100	pay 0.0100% / 8h	5h 48m	$12K	$1.3M	50x
Short	Kraken Futures PF_BNBUSD	787.14	−0.0085	pay 0.0011% / 1h	48m 26s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$38.94
Price spread: −0.078% → −0.083%: $0.54
Slippage, 4 orders: −$45.83
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$102.23
Costs to cover: 0.638%
Break-even: never at this rate

Slippage from SunX: live order book, 9 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 SunX live order book, 9 min ago	15.06 bp	22.1 bp −$22	29.6 bp −$296	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	1.65 bp	10.2 bp −$10	14.7 bp −$147	28.1 bp −$2,806	80.4 bp −$40.2K

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	787.06	−0.088%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0085%	1h	787.14	−0.078%	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	788.09	+0.043%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.82	+0.008%	$5.9M	$17.0M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.73	−0.003%	$2.9M	$26.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.70	−0.007%	$139K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.17	+0.053%	$850K	$2.9M	30x	as long as short
Deribit BNB_USDC-PERPETUAL	0.0000%	1h	787.50	−0.033%	$1.5M	$157K	25x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.21	−0.069%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0014%	8h	788.80	+0.133%	$83.3M	$11.7M	200x	as long as short

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0015%	8h	787.78	+0.003%	$481.5M	$762.7M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.201%	$19K	$789K	30x	as long as short
Bybit BNBUSDT	+0.0036%	8h	786.90	−0.108%	$138.5M	$65.8M	75x	as long as short
BloFin BNB-USDT	+0.0059%	8h	787.98	+0.029%	$18.4M	$2.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	787.39	−0.046%	$2.7M	$3.3M	20x	as long as short
Phemex BNBUSDT	+0.0100%	8h	787.86	+0.014%	$68.5M	$51.1M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.02	−0.093%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.80	+0.006%	$51.9M	$16.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.46	−0.038%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.00	−0.096%	$53.3M	$101.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	−0.045%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.15	−0.077%	$41.2M	$53.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.04	−0.091%	$28.2M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.98	−0.098%	$75.8M	$30.9M	75x	as long as short
BingX BNB-USDT	+0.0100%	8h	787.32	−0.055%	—	$50.1M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.73	−0.003%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.35	−0.178%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.36	−0.050%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.20	−0.070%	$158K	$445K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.20	−0.070%	$130K	$904K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.16	−0.075%	$264K	$297K	50x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	787.75	long leg	$12K	$1.3M	50x
SoDEX BNB-USD	+0.0100%	1h	787.40	−0.045%	$387K	$926K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.27	−0.062%	$8.0M	$9.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.72	−0.004%	$78K	$521K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.73	−0.130%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.04	−0.090%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0120%	1h	787.72	−0.004%	$158K	$45K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.48	−0.035%	$545K	$1.9M	50x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.71	−0.005%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0282%	1h	788.09	+0.043%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	786.56	−0.151%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	787.34	−0.052%	$67K	$37K	12x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.58	−0.022%	$1.1M	$900K	20x	as long as short
dYdX BNB-USD	+0.1177%	1h	787.47	−0.035%	$158K	$34K	10x	as long as short