Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.002%

Price spread now: Kraken Futures against edgeX−0.155%76s7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as 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−$320.325% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.155%, 7d avg −0.076%

Together, before fees−0.012%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.079% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.076%). Swap the legs. The two prices were read 76 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	edgeX BNBUSDC	789.04	0.0100	pay 0.0050% / 4h	2h 02m	$4.1M	$76.0M	30x
Short	Kraken Futures PF_BNBUSD	787.82	0.0069	get 0.0009% / 1h	2m 18s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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 edgeXbpFee Kraken FuturesbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$6.5
Price spread: −0.155% → −0.076%: −$7.89
Slippage, 4 orders: −$13.45
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$46.84
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 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 edgeX live order book, 2 min ago	1.90 bp	6.4 bp −$6	6.4 bp −$64	10.0 bp −$999	doesn't fit
Sell Kraken Futures live order book, 1 min ago	2.73 bp	10.3 bp −$10	11.5 bp −$115	31.1 bp −$3,111	106.5 bp −$53.2K

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	787.82	−0.156%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.88	−0.021%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.04	0.000%	$851K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.87	−0.149%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.034%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0045%	8h	788.50	−0.068%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDT	+0.0053%	8h	788.11	−0.118%	—	$22.2M	—	as long as short
Phemex BNBUSDT	+0.0065%	8h	788.54	−0.064%	$69.0M	$50.9M	50x	as long as short
Binance BNBUSDT	+0.0067%	8h	788.48	−0.072%	$490.8M	$816.3M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	788.90	−0.018%	$81.0M	$12.1M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSDshort	+0.0069%	1h	787.82	−0.155%	$2.5M	$1.2M	50x
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	−0.084%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.14	−0.114%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.88	−0.148%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.85	−0.151%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.75	−0.037%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.20	−0.107%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.82	−0.155%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.80	−0.158%	$53.6M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	−0.107%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.00	−0.132%	$36.9M	$59.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.75	−0.164%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.75	−0.164%	$76.3M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.41	−0.080%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.41	−0.080%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	789.04	long leg	$4.1M	$76.0M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	788.84	−0.026%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.86	−0.150%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.08	−0.122%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.48	−0.071%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.14	−0.115%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.21	−0.106%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.62	−0.181%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.98	−0.135%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.92	−0.016%	$170K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0110%	1h	788.00	−0.132%	$387K	$988K	10x	as long as short
dYdX BNB-USD	+0.0129%	1h	787.75	−0.164%	$160K	$62K	10x	as long as short
Kalshi KXBNBPERP	+0.0145%	8h	788.40	−0.082%	$164K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	788.60	−0.056%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0224%	8h	788.87	−0.022%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.35	−0.088%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	788.60	−0.056%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	787.78	−0.160%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	−0.060%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	788.25	−0.101%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0560%	1h	788.28	−0.097%	$67K	$39K	12x	as long as short