BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0225%/8h= +24.6% APRnext payment +$0.28 per $10,000 · paid last 24h −0.014%

Price spread now: Extended against Kraken Futures−0.013%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.013%, 7d avg −0.049%

Together, before fees+0.081%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Extended is 0.036% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.049%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	797.02	−0.0121	get 0.0015% / 1h	4m 54s	$2.5M	$1.0M	50x
Short	Extended BNB-USD	796.91	0.0104	get 0.0013% / 1h	4m 54s	$1.8M	$6.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.013%Rate

Funding earned: $47.22
Price spread: −0.013% → −0.049%: $3.58
Slippage, 4 orders: −$14.35
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $21.44
Costs to cover: 0.293%
Break-even: 3.8 days

Slippage from Kraken Futures: live order book, 4 min ago; Extended: 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, 4 min ago	5.14 bp	11.6 bp −$12	12.8 bp −$128	36.4 bp −$3,637	142.1 bp −$71.0K
Sell Extended live order book, 4 min ago	0.06 bp	3.6 bp −$4	5.0 bp −$50	doesn't fit	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	797.06	+0.005%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0121%	1h	797.02	long leg	$2.5M	$1.0M	50x
Hotstuff BNB-PERP	−0.0080%	1h	797.49	+0.059%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0013%	8h	796.70	−0.040%	$35.8M	$57.1M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.15	+0.267%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	797.80	+0.098%	$862K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	797.06	+0.005%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	796.50	−0.065%	$4.1M	$5.1M	—	as long as short
Phemex BNBUSDT	+0.0019%	8h	797.65	+0.079%	$69.7M	$50.2M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.013%	$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	+0.0045%	8h	797.52	+0.063%	$6.1M	$19.5M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	797.60	+0.073%	$610K	$1.1M	50x	as long as short
BingX BNB-USDT	+0.0057%	8h	797.17	+0.019%	—	$34.9M	—	as long as short
Binance BNBUSDT	+0.0070%	8h	797.48	+0.058%	$496.4M	$810.5M	75x	as long as short
MEXC BNB_USDT	+0.0071%	8h	798.20	+0.148%	$83.0M	$13.7M	200x	as long as short
Bybit BNBUSDT	+0.0074%	8h	796.80	−0.028%	$138.5M	$76.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	797.26	+0.031%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	797.27	+0.031%	$171K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	796.85	−0.021%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	797.40	+0.048%	$1.2M	$930K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	796.80	−0.028%	$54.2M	$110.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	797.50	+0.060%	$52K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	797.14	+0.015%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	796.65	−0.046%	$78.1M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	797.71	+0.087%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.32	+0.289%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	796.99	−0.004%	$113K	$885K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	797.01	−0.001%	$385K	$467K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	797.12	+0.012%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	797.74	+0.090%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	797.20	+0.023%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	797.04	+0.003%	$8.2M	$8.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	797.88	+0.108%	$78K	$18K	50x	as long as short
Extended BNB-USDshort	+0.0104%	1h	796.91	−0.013%	$1.8M	$6.0M	50x
Aevo BNB-PERP	+0.0104%	1h	797.03	+0.001%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0133%	1h	798.69	+0.209%	$649K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	797.43	+0.051%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	797.70	+0.085%	$102K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0187%	1h	796.86	−0.020%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0190%	8h	797.60	+0.073%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	797.83	+0.102%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0283%	1h	797.79	+0.097%	$53.0M	$20.1M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	797.43	+0.052%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	796.63	−0.049%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	797.30	+0.035%	$68K	$38K	12x	as long as short
Backpack BNB_USDC_PERP	+0.0426%	1h	797.76	+0.093%	$2.7M	$5.7M	40x	as long as short