Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0308%/8h= +33.8% APRpaid last 24h +0.023%

Price spread now: BloFin against Kraken Futures+0.056%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.056%, 7d avg +0.094%

Together, before fees+0.275%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.037% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.056% now, against its 7-day average of +0.094%). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.254% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	794.35	−0.0121	get 0.0015% / 1h	0m 42s	$2.5M	$1.0M	50x
Short	BloFin BNB-USDT	794.80	0.0187	get 0.0187% / 8h	7h 00m	$18.1M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.056%Rate

Funding earned: $64.75
Price spread: +0.056% → +0.094%: −$3.73
Slippage, 4 orders: −$17.14
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $21.88
Costs to cover: 0.391%
Break-even: 4.6 days

Slippage from Kraken Futures: live order book, 3 min ago; BloFin: 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 Kraken Futures live order book, 3 min ago	5.84 bp	12.5 bp −$12	15.9 bp −$159	40.9 bp −$4,093	240.8 bp −$120.4K
Sell BloFin live order book, 3 min ago	0.63 bp	6.6 bp −$7	7.3 bp −$73	14.5 bp −$1,447	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 −0.0159% / S +0.0335%	1h	794.49	+0.018%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0121%	1h	794.35	long leg	$2.5M	$1.0M	50x
Hotstuff BNB-PERP	−0.0080%	1h	795.13	+0.098%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0012%	8h	793.90	−0.057%	$35.5M	$57.6M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	797.56	+0.404%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	796.25	+0.239%	$860K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.50	+0.018%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	794.01	−0.043%	$4.1M	$5.1M	—	as long as short
Phemex BNBUSDT	+0.0027%	8h	794.96	+0.077%	$69.4M	$50.4M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.352%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0040%	8h	794.47	+0.015%	$6.1M	$19.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	794.91	+0.070%	$608K	$1.1M	50x	as long as short
BingX BNB-USDT	+0.0055%	8h	794.18	−0.022%	—	$34.9M	—	as long as short
Binance BNBUSDT	+0.0066%	8h	794.39	+0.005%	$493.5M	$814.9M	75x	as long as short
Bybit BNBUSDT	+0.0067%	8h	793.60	−0.095%	$137.8M	$76.7M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	794.70	+0.044%	$82.5M	$13.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	794.35	0.000%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	795.43	+0.136%	$171K	$36K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.35	0.000%	$384K	$468K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	794.45	+0.012%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	794.24	−0.014%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.70	−0.082%	$53.5M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	795.10	+0.094%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	794.01	−0.043%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.78	−0.072%	$77.7M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	796.74	+0.301%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	797.11	+0.347%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.58	+0.029%	$113K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.45	+0.013%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.87	+0.066%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	794.50	+0.019%	$391K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	794.26	−0.011%	$8.1M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	794.24	−0.014%	$77K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.59	−0.096%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	794.35	−0.001%	$382K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.546%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	794.94	+0.074%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	795.50	+0.145%	$103K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0179%	1h	794.00	−0.045%	$160K	$63K	10x	as long as short
BloFin BNB-USDTshort	+0.0187%	8h	794.80	+0.056%	$18.1M	$2.5M	75x
01 Exchange BNBUSD	+0.0200%	1h	795.29	+0.118%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	794.70	+0.044%	$1.6M	$161K	25x	as long as short
Hyperliquid BNB	+0.0273%	1h	794.86	+0.064%	$52.8M	$20.1M	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	794.25	−0.013%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	796.08	+0.218%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0424%	1h	794.95	+0.075%	$2.7M	$5.7M	40x	as long as short