BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0106%/8h= +11.6% APRnext payment +$0.13 per $10,000 · paid last 24h +0.002%

Price spread now: Kraken Futures against Derive−0.105%123s7-day average — · you buy dearer than you sell

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

Long on Derive Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.105% cheaper against Derive than usual: you would sell low and buy high (spread −0.105% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day). The two prices were read 123 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive BNB-PERP	787.05	0.0100	pay 0.0013% / 1h	1m 26s	$31K	$12K	10x
Short	Kraken Futures PF_BNBUSD	786.23	0.0206	get 0.0026% / 1h	1m 26s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Derive. 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 DerivebpFee Kraken FuturesbpOrdersPrice spread, now −0.105%Rate

Funding earned: $22.21
Price spread: −0.105% → 0.000%: −$10.48
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4.27
Costs to cover: 0.160%
Break-even: 8.3 days

Slippage unknown: Derive: no order-book sample; Kraken Futures: live order book, 2 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 Derive no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 2 min ago	2.41 bp	10.4 bp −$10	13.4 bp −$134	29.3 bp −$2,932	99.3 bp −$49.6K

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	786.22	−0.105%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.78	−0.034%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.83	+0.099%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.35	−0.090%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.292%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0047%	8h	786.51	−0.069%	—	$22.3M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	786.90	−0.020%	$6.1M	$18.8M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	786.90	−0.019%	$489.1M	$821.2M	75x	as long as short
MEXC BNB_USDT	+0.0058%	8h	787.70	+0.082%	$81.0M	$12.1M	200x	as long as short
dYdX BNB-USD	+0.0064%	1h	786.64	−0.052%	$159K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	786.92	−0.017%	$68.8M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.43	+0.048%	$564K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.50	−0.070%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.15	−0.115%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.95	−0.013%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.64	−0.052%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.20	−0.108%	$138.3M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.20	−0.108%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.60	−0.057%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.30	−0.095%	$37.9M	$59.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.98	−0.136%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.11	−0.120%	$76.7M	$31.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.69	−0.046%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.51	+0.059%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.27	+0.028%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.69	+0.081%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.26	−0.101%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.32	−0.093%	$264K	$460K	50x	as long as short
Derive BNB-PERPlong	+0.0100%	1h	787.05	long leg	$31K	$12K	10x
SunX BNB-USDT	+0.0100%	8h	786.91	−0.018%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.40	−0.083%	$387K	$977K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.77	−0.035%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.87	−0.023%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.93	−0.142%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.31	−0.094%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	786.90	−0.019%	$171K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.76	+0.090%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0178%	8h	787.12	+0.009%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.70	−0.045%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0206%	1h	786.23	−0.105%	$2.5M	$1.2M	50x
Bulk BNB-USD	+0.0222%	1h	787.85	+0.101%	$639K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.38	+0.042%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	786.86	−0.024%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.00	−0.133%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.64	−0.052%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	786.60	−0.057%	$67K	$39K	12x	as long as short