BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0232%/8h= −25.4% APRnext payment −$0.29 per $10,000 · paid last 24h +0.011%

Price spread now: Kraken Futures against ApeX Omni−0.099%75s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.436% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.099%, 7d avg −0.071%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.028% cheaper against ApeX Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.071%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.091% in total (about -4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	794.60	0.0100	pay 0.0013% / 1h	17m 50s	$160K	$436K	50x
Short	Kraken Futures PF_BNBUSD	793.81	−0.0132	pay 0.0016% / 1h	17m 50s	$2.5M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against ApeX 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 ApeX OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$48.64
Price spread: −0.099% → −0.071%: −$2.81
Slippage, 4 orders: −$23.62
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$95.06
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 50 min ago; Kraken Futures: live order book, 1 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 ApeX Omni live order book, 50 min ago	1.50 bp	7.3 bp −$7	29.3 bp −$293	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	4.54 bp	10.8 bp −$11	14.4 bp −$144	31.9 bp −$3,194	161.4 bp −$80.7K

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 −0.0167% / S +0.0335%	1h	793.55	−0.133%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0132%	1h	793.81	−0.099%	$2.5M	$1.0M	50x
Hotstuff BNB-PERP	−0.0080%	1h	793.80	−0.101%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	793.90	−0.088%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.69	−0.114%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.320%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0033%	8h	793.81	−0.100%	$6.1M	$19.7M	200x	as long as short
Variational Omni BNB	+0.0038%	8h	794.10	−0.063%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDC	+0.0050%	8h	793.34	−0.159%	—	$13.3M	—	as long as short
Phemex BNBUSDT	+0.0056%	8h	794.05	−0.069%	$69.4M	$50.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.117%	$610K	$1.1M	50x	as long as short
Gate BNB_USDT	+0.0058%	8h	793.15	−0.182%	$35.4M	$56.6M	75x	as long as short
Binance BNBUSDT	+0.0062%	8h	793.85	−0.095%	$493.8M	$810.1M	75x	as long as short
MEXC BNB_USDT	+0.0062%	8h	794.00	−0.076%	$82.4M	$12.8M	200x	as long as short
GRVT BNB_USDT_Perp	+0.0070%	8h	795.62	+0.129%	$3.0M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0077%	1h	793.68	−0.116%	$160K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	794.99	+0.049%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.87	−0.092%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.45	−0.145%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.65	−0.120%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	793.92	−0.086%	$52.0M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	794.06	−0.068%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.23	−0.172%	$138.7M	$75.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.00	−0.201%	$53.2M	$110.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.60	−0.126%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.39	−0.152%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.00	−0.201%	$77.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	794.91	+0.039%	$4.1M	$76.8M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	794.60	long leg	$160K	$436K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	793.33	−0.160%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.75	−0.107%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.17	−0.054%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.80	−0.101%	$390K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.18	−0.179%	$8.1M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	794.54	−0.008%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.84	−0.222%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.74	−0.108%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.65	−0.120%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0154%	8h	794.80	+0.025%	$113K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0195%	1h	795.93	+0.167%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	794.02	−0.073%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	794.15	−0.056%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	793.03	−0.197%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0389%	1h	794.11	−0.062%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	793.58	−0.128%	$68K	$38K	12x	as long as short