BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0163%/8h= +17.9% APRnext payment +$0.20 per $10,000 · paid last 24h −0.049%

Price spread now: Kraken Futures against Hyperliquid−0.115%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

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

costs, in and out, $10k−$340.344% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)−0.095%−$10 · spread now −0.115%, 7d avg −0.052%

Together, before fees−0.209%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.063% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of −0.052%). If the spread goes back, that is −$6 on $10k: about 31 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.114%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BNB	790.17	0.0100	pay 0.0013% / 1h	41m 04s	$51.9M	$17.5M	10x
Short	Kraken Futures PF_BNBUSD	789.26	0.0263	get 0.0033% / 1h	41m 04s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Hyperliquid. 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 HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.115%Rate

Funding earned: $34.3
Price spread: −0.115% → −0.052%: −$6.31
Slippage, 4 orders: −$15.44
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$6.45
Costs to cover: 0.344%
Break-even: 8.3 days

Slippage from Hyperliquid: live order book, 12 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 Hyperliquid live order book, 12 min ago	0.32 bp	5.7 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.18 bp	12.1 bp −$12	13.5 bp −$135	33.7 bp −$3,375	151.1 bp −$75.6K

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 −0.0184% / S +0.0349%	1h	789.30	−0.111%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.71	−0.058%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.66	+0.062%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.35	−0.103%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.888%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	790.05	−0.015%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	789.73	−0.056%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.091%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.30	+0.016%	$80.2M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	790.42	+0.032%	$493.2M	$789.2M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0073%	8h	790.08	−0.011%	$69.1M	$50.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.63	−0.068%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.55	−0.078%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.95	−0.154%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNBlong	+0.0100%	1h	790.17	long leg	$51.9M	$17.5M	10x
Pacifica BNB	+0.0100%	1h	789.51	−0.083%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.61	−0.071%	$138.8M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.60	−0.072%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	−0.072%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.55	−0.078%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.27	−0.114%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.56	−0.077%	$76.4M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.92	−0.032%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.90	−0.160%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.18	+0.001%	$4.1M	$73.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.85	−0.040%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.23	−0.119%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.64	−0.068%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.06	−0.014%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.60	−0.072%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.39	−0.099%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.98	−0.024%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.40	−0.098%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.52	−0.082%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.39	−0.099%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0122%	1h	788.95	−0.154%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.89	−0.035%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0181%	8h	789.70	−0.059%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0186%	8h	790.09	−0.010%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.89	−0.035%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSDshort	+0.0263%	1h	789.26	−0.115%	$2.5M	$1.2M	50x
Bulk BNB-USD	+0.0272%	1h	789.78	−0.049%	$640K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.96	−0.026%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.90	−0.161%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.58	−0.075%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	789.46	−0.090%	$67K	$38K	12x	as long as short