BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0309%/8h= −33.8% APRnext payment −$0.39 per $10,000 · paid last 24h −0.012%

Price spread now: Kraken Futures against Deribit−0.049%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$410.415% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$20 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.049%, 7d avg −0.051%

Together, before fees−0.221%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$9 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 -0.195% in total (about -10.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 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	Deribit BNB_USDC-PERPETUAL	791.24	0.0400	pay 0.0050% / 1h	30m 38s	$1.5M	$147K	25x
Short	Kraken Futures PF_BNBUSD	790.85	0.0091	get 0.0011% / 1h	30m 38s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$64.91
Price spread: −0.049% → −0.051%: $0.2
Slippage, 4 orders: −$24.49
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$106.2
Costs to cover: 0.415%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 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 Deribit live order book, 3 min ago	2.34 bp	7.5 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.67 bp	13.1 bp −$13	15.2 bp −$152	38.1 bp −$3,813	doesn't fit

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 −0.0167% / S +0.0335%	1h	790.58	−0.084%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.79	−0.057%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.72	−0.066%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	790.56	−0.086%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.750%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.79	−0.184%	$617K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	791.61	+0.046%	$6.3M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0059%	8h	791.08	−0.021%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0071%	8h	791.34	+0.012%	$69.3M	$51.1M	50x	as long as short
MEXC BNB_USDT	+0.0075%	8h	791.80	+0.070%	$80.4M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0076%	8h	791.48	+0.030%	$494.8M	$803.4M	75x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0091%	1h	790.85	−0.049%	$2.5M	$1.2M	50x
Variational Omni BNB	+0.0096%	8h	790.49	−0.096%	$4.1M	$4.6M	—	as long as short
Lighter BNB	+0.0096%	1h	791.13	−0.015%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	790.83	−0.052%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.75	−0.062%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.52	+0.035%	$51.9M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.09	−0.020%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.80	−0.056%	$139.1M	$77.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.70	−0.069%	$53.6M	$112.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.10	−0.018%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.80	−0.056%	$35.4M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.72	−0.066%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	790.64	−0.076%	$77.0M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.12	−0.016%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.40	−0.107%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.01	−0.156%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.67	−0.073%	$136K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.00	−0.031%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.45	+0.025%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.21	−0.131%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	791.60	+0.045%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.52	−0.091%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.83	−0.052%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	790.19	−0.133%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0138%	1h	790.90	−0.044%	$389K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0140%	8h	790.55	−0.088%	$2.9M	$28.2M	10x	as long as short
Kalshi KXBNBPERP	+0.0193%	8h	791.20	−0.006%	$91K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0195%	8h	791.32	+0.010%	$18.1M	$2.3M	75x	as long as short
dYdX BNB-USD	+0.0234%	1h	790.32	−0.117%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	791.37	+0.016%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.49	−0.095%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.28	+0.004%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0383%	1h	789.79	−0.184%	$640K	$6K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0400%	1h	791.24	long leg	$1.5M	$147K	25x
Hibachi BNB/USDT-P	+0.0592%	1h	790.51	−0.093%	$68K	$38K	12x	as long as short