Funding you earn now, next payment 05:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.01 per $10,000 · paid last 24h +0.009%
Price spread now: Kraken Futures against Coinbase International−0.022%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$400.404% of the position
Funding, last 7 days+0.015%+$2 on $10k
+Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.022%, 7d avg +0.005%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Kraken Futures is 0.027% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International BNB-PERP-INTX | 787.46 | 0.0080 | pay 0.0010% / 1h | 48m 30s | $578K | $1.9M | 50x |
| Short | Kraken Futures PF_BNBUSD | 787.29 | 0.0069 | get 0.0009% / 1h | 48m 30s | $2.5M | $1.2M | 50x |
Coinbase International BNB-PERP-INTX
Kraken Futures PF_BNBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2.29
- Price spread: −0.022% → +0.005%
- −$2.69
- Slippage, 4 orders
- −$20.43
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$45.41
- Costs to cover
- 0.404%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Coinbase International live order book, 5 min ago | 2.29 bp | 8.3 bp −$8 | 13.9 bp −$139 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 4.06 bp | 12.6 bp −$13 | 16.8 bp −$168 | 35.4 bp −$3,541 | 107.3 bp −$53.7K |
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 −0.0192% / S +0.0356% | 1h | 787.49 | +0.003% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.53 | +0.009% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 788.28 | +0.104% | $850K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 787.50 | +0.005% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0029% | 8h | 788.23 | +0.098% | $6.1M | $19.0M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.239% | $19K | $789K | 30x | as long as short |
| BingX BNB-USDT | +0.0039% | 8h | 787.84 | +0.048% | — | $22.1M | — | as long as short |
| MEXC BNB_USDT | +0.0051% | 8h | 788.50 | +0.132% | $79.9M | $11.8M | 200x | as long as short |
| Binance BNBUSDT | +0.0051% | 8h | 788.21 | +0.095% | $491.0M | $804.2M | 75x | as long as short |
| Phemex BNBUSDT | +0.0053% | 8h | 787.86 | +0.051% | $68.9M | $50.7M | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
Injective BNB/USDC PERP
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDT
Phemex BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_BNBUSDshort | +0.0069% | 1h | 787.29 | −0.022% | $2.5M | $1.2M | 50x | |
| dYdX BNB-USD | +0.0077% | 1h | 787.06 | −0.051% | $159K | $61K | 10x | as long as short |
| Coinbase International BNB-PERP-INTXlong | +0.0080% | 1h | 787.46 | long leg | $578K | $1.9M | 50x | |
| Lighter BNB | +0.0096% | 1h | 787.61 | +0.019% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 787.33 | −0.017% | $265K | $490K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 787.65 | +0.024% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 788.06 | +0.076% | $51.7M | $17.4M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 787.74 | +0.036% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 787.50 | +0.005% | $138.3M | $74.2M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 787.60 | +0.018% | $53.5M | $111.9M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.90 | +0.056% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 787.60 | +0.018% | $36.2M | $57.9M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 787.50 | +0.005% | $27.6M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 787.33 | −0.017% | $76.2M | $30.7M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 787.69 | +0.029% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 787.11 | −0.044% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 787.81 | +0.045% | $4.1M | $74.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.86 | +0.051% | $159K | $439K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 787.57 | +0.014% | $132K | $953K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 787.50 | +0.005% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 787.93 | +0.060% | $12K | $1.5M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 787.13 | −0.041% | $8.1M | $9.8M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 787.84 | +0.048% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 787.34 | −0.016% | $1.8M | $6.3M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 787.37 | −0.012% | $378K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0107% | 1h | 787.34 | −0.015% | $169K | $35K | 10x | as long as short |
| SoDEX BNB-USD | +0.0119% | 1h | 787.50 | +0.005% | $387K | $997K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0131% | 8h | 787.70 | +0.030% | $122K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0171% | 8h | 787.95 | +0.062% | $17.7M | $2.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0198% | 8h | 788.06 | +0.076% | $2.9M | $29.2M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 787.78 | +0.040% | $1.5M | $143K | 25x | as long as short |
| Bulk BNB-USD | +0.0260% | 1h | 788.17 | +0.090% | $639K | $10K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0312% | 1h | 788.36 | +0.114% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0324% | 1h | 787.30 | −0.020% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0432% | 1h | 788.01 | +0.070% | $1.1M | $908K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0448% | 1h | 787.74 | +0.035% | $67K | $39K | 12x | as long as short |
dYdX BNB-USD
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
SoDEX BNB-USD
Kalshi KXBNBPERP
BloFin BNB-USDT
GRVT BNB_USDT_Perp
Deribit BNB_USDC-PERPETUAL
Bulk BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P