Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against Variational Omni+0.075%7-day average +0.026% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.075%, 7d avg +0.026%

Together, before fees+0.031%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.050% dearer against Variational Omni than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of +0.026%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 26 hours. Mind the row above: over the last 4 days funding on this pair paid +0.058%, 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	Variational Omni BNB	785.91	0.0100	pay 0.0100% / 8h	59m 17s	$4.0M	$4.8M	—
Short	Kraken Futures PF_BNBUSD	786.50	−0.0050	pay 0.0006% / 1h	59m 17s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$31.53
Price spread: +0.075% → +0.026%: $4.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$36.58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Kraken Futures: live order book, 4 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 5 min ago	3.34 bp	doesn't fit	5.9 bp −$59	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.41 bp	10.4 bp −$10	13.4 bp −$134	29.3 bp −$2,932	99.3 bp −$49.6K

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	786.48	+0.073%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.89	+0.124%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0050%	1h	786.50	+0.075%	$2.5M	$1.2M	50x
StandX BNB-USD	0.0000%	1h	787.83	+0.244%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.50	+0.074%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.440%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0047%	8h	786.54	+0.080%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	787.12	+0.153%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0057%	8h	787.80	+0.240%	$81.0M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	787.10	+0.151%	$489.2M	$821.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0067%	1h	786.64	+0.093%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0075%	8h	787.13	+0.155%	$68.8M	$51.3M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.72	+0.103%	$2.7M	$3.8M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	+0.056%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.17	+0.160%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.76	+0.108%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	+0.062%	$138.4M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	+0.049%	$53.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.80	+0.113%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.50	+0.075%	$38.0M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.15	+0.030%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.27	+0.045%	$76.7M	$31.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.15	+0.157%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNBlong	+0.0100%	8h	785.91	long leg	$4.0M	$4.8M	—
edgeX BNBUSDC	+0.0100%	4h	786.76	+0.108%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.93	+0.129%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.43	+0.066%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.53	+0.079%	$265K	$454K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.05	+0.145%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.09	+0.149%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	+0.100%	$387K	$977K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	786.93	+0.129%	$1.5M	$145K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.63	+0.092%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.06	+0.146%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.13	+0.028%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.52	+0.077%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	787.43	+0.193%	$564K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	787.00	+0.138%	$171K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	786.67	+0.096%	$169K	$34K	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	787.39	+0.188%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.06	+0.146%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0230%	1h	786.88	+0.123%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	787.18	+0.161%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.20	+0.037%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.79	+0.112%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	786.61	+0.088%	$67K	$39K	12x	as long as short