Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h −0.008%

Price spread now: Aster against Kraken Futures+0.048%54s7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as 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−$270.271% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.169%+$17 · spread now +0.048%, 7d avg +0.090%

Together, before fees+0.163%+ Points / potential airdropAster: Stage 5 · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.042% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.048% now, against its 7-day average of +0.090%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day). The two prices were read 54 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	Kraken Futures PF_BNBUSD	804.33	0.0038	pay 0.0005% / 1h	5m 20s	$2.5M	$928K	50x
Short	Aster BNBUSDT	804.72	0.0098	get 0.0098% / 8h	2h 05m	$6.4M	$18.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.048%Rate

Funding earned: $12.56
Price spread: +0.048% → +0.090%: −$4.19
Slippage, 4 orders: −$9.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$18.76
Costs to cover: 0.271%
Break-even: 17.5 days

Slippage from Kraken Futures: live order book, 3 min ago; Aster: live order book, 4 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 Kraken Futures live order book, 3 min ago	2.55 bp	8.8 bp −$9	13.7 bp −$137	32.5 bp −$3,253	doesn't fit
Sell Aster live order book, 4 min ago	0.06 bp	5.7 bp −$6	6.7 bp −$67	20.8 bp −$2,081	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 −0.0195% / S +0.0371%	1h	804.05	−0.035%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.62	+0.036%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.17	+0.105%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.90	+0.071%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.28	−0.006%	$869K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.07	−0.032%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSDlong	+0.0038%	1h	804.33	long leg	$2.5M	$928K	50x
Variational Omni BNB	+0.0048%	8h	803.61	−0.089%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0056%	8h	804.40	+0.009%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0080%	8h	803.63	−0.087%	$139.5M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	+0.102%	$608K	$880K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.39	+0.008%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDTshort	+0.0098%	8h	804.72	+0.048%	$6.4M	$18.8M	200x
Nado BNB-PERP	+0.0100%	1h	803.80	−0.066%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.36	+0.004%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.90	−0.054%	$55.1M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.60	+0.033%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.00	−0.041%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.98	−0.044%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.86	−0.059%	$78.9M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.38	+0.130%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.72	+0.048%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.01	−0.040%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.15	−0.023%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.36	+0.004%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.70	+0.045%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.20	−0.016%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.82	+0.061%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.71	−0.078%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.28	−0.006%	$386K	$40K	10x	as long as short
Binance BNBUSDT	+0.0115%	8h	804.71	+0.047%	$519.9M	$805.7M	75x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.00	+0.083%	$84.5M	$13.7M	200x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.160%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0137%	8h	804.81	+0.060%	$70.2M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0189%	1h	804.20	−0.016%	$396K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	804.65	+0.039%	$1.6M	$165K	25x	as long as short
Hyperliquid BNB	+0.0202%	1h	804.69	+0.045%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.36	+0.004%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0232%	1h	804.12	−0.026%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.16	+0.103%	$18.9M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.129%	$651K	$14K	10x	as long as short
Hibachi BNB/USDT-P	+0.0264%	1h	804.40	+0.009%	$71K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.75	−0.073%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	804.96	+0.078%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.069%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0654%	1h	805.32	+0.123%	$3.0M	$5.5M	40x	as long as short