Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h +0.002%

Price spread now: Kraken Futures against Binance−0.090%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.090%, 7d avg −0.090%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.090%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	787.86	0.0015	pay 0.0015% / 8h	5h 50m	$481.5M	$764.1M	75x
Short	Kraken Futures PF_BNBUSD	787.15	−0.0085	pay 0.0011% / 1h	50m 25s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$21.03
Price spread: −0.090% → −0.090%: $0.06
Slippage, 4 orders: −$8.25
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$49.22
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Binance: live order book, 17 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 Binance live order book, 17 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	15.4 bp −$1,537	doesn't fit
Sell Kraken Futures live order book, 1 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	−0.102%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0085%	1h	787.15	−0.090%	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	788.09	+0.029%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	787.91	+0.006%	$5.9M	$17.0M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.73	−0.017%	$2.9M	$26.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.50	−0.046%	$139K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	787.93	+0.009%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.21	−0.082%	$9.5M	—	150x	as long as short
Binance BNBUSDTlong	+0.0015%	8h	787.86	long leg	$481.5M	$764.1M	75x
MEXC BNB_USDT	+0.0015%	8h	788.90	+0.132%	$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
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.187%	$19K	$789K	30x	as long as short
Bybit BNBUSDT	+0.0039%	8h	787.00	−0.109%	$138.6M	$66.0M	75x	as long as short
BloFin BNB-USDT	+0.0061%	8h	787.98	+0.015%	$18.4M	$2.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	787.30	−0.071%	$2.7M	$3.3M	20x	as long as short
Phemex BNBUSDT	+0.0097%	8h	787.55	−0.039%	$68.4M	$51.0M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.94	−0.116%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.95	+0.011%	$51.9M	$16.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.37	−0.063%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.10	−0.096%	$53.3M	$101.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.50	−0.046%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.25	−0.077%	$41.2M	$53.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.15	−0.090%	$28.2M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.02	−0.107%	$75.8M	$30.9M	75x	as long as short
BingX BNB-USDC	+0.0100%	8h	787.20	−0.084%	—	$13.4M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.65	−0.027%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.35	−0.192%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.63	−0.029%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.38	−0.061%	$158K	$444K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.29	−0.072%	$130K	$905K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.25	−0.077%	$264K	$297K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.00	+0.018%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	−0.058%	$387K	$926K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.60	−0.034%	$1.5M	$157K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.27	−0.075%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.64	−0.028%	$88K	$446K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.74	−0.143%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.22	−0.081%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0120%	1h	787.92	+0.008%	$158K	$45K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.48	−0.048%	$545K	$1.9M	50x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.87	+0.001%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0282%	1h	788.09	+0.030%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	786.56	−0.165%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	787.18	−0.086%	$67K	$37K	12x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.24	−0.079%	$1.1M	$901K	20x	as long as short
dYdX BNB-USD	+0.1136%	1h	787.47	−0.049%	$158K	$34K	10x	as long as short