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: Hyperliquid against Kraken Futures+0.171%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

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

Long on Kraken Futures Short on Hyperliquid

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)+0.040%+$4 · spread now +0.171%, 7d avg +0.052%

Together, before fees+0.153%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.118% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of +0.052%): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.114%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	789.26	0.0263	pay 0.0033% / 1h	40m 48s	$2.5M	$1.2M	50x
Short	Hyperliquid BNB	790.61	0.0100	get 0.0013% / 1h	40m 48s	$51.9M	$17.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.171%Rate

Funding earned: −$34.3
Price spread: +0.171% → +0.052%: $11.84
Slippage, 4 orders: −$15.44
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$56.9
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Hyperliquid: live order book, 13 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	4.18 bp	10.5 bp −$11	17.7 bp −$177	38.9 bp −$3,890	117.3 bp −$58.7K
Sell Hyperliquid live order book, 13 min ago	0.32 bp	6.1 bp −$6	doesn't fit	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 −0.0184% / S +0.0349%	1h	789.30	+0.005%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.71	+0.057%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.66	+0.178%	$855K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.35	+0.012%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.006%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	790.05	+0.100%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	789.89	+0.080%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.024%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	790.70	+0.183%	$80.3M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0066%	8h	790.70	+0.183%	$493.4M	$789.3M	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	+0.104%	$69.1M	$50.1M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.63	+0.047%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.55	+0.037%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.95	−0.039%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNBshort	+0.0100%	1h	790.61	+0.171%	$51.9M	$17.5M	10x
Pacifica BNB	+0.0100%	1h	789.51	+0.032%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.78	+0.066%	$138.9M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.80	+0.069%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	+0.043%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.90	+0.081%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.71	+0.057%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.84	+0.074%	$76.4M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.92	+0.084%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.90	−0.045%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.18	+0.117%	$4.1M	$73.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.85	+0.075%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.23	−0.004%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.64	+0.048%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.06	+0.101%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.60	+0.043%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.39	+0.016%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.98	+0.091%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.40	+0.018%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.52	+0.033%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.39	+0.017%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0122%	1h	788.95	−0.039%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.89	+0.081%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0181%	8h	789.70	+0.056%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0186%	8h	790.09	+0.105%	$18.1M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.89	+0.080%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSDlong	+0.0263%	1h	789.26	long leg	$2.5M	$1.2M	50x
Bulk BNB-USD	+0.0272%	1h	789.78	+0.066%	$640K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.96	+0.089%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.90	−0.046%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.58	+0.041%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	789.46	+0.026%	$67K	$38K	12x	as long as short