Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h 0.000%

Price spread now: SunX against Kraken Futures+0.110%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.671% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.110%, 7d avg +0.084%

Together, before fees+0.035%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.026% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.084%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +0.096%, 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	787.35	0.0205	pay 0.0026% / 1h	15m 52s	$2.5M	$1.2M	50x
Short	SunX BNB-USDT	788.21	0.0100	get 0.0100% / 8h	1h 15m	$12K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$22.15
Price spread: +0.110% → +0.084%: $2.57
Slippage, 4 orders: −$49.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$86.7
Costs to cover: 0.671%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SunX: live order book, 9 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	2.86 bp	10.5 bp −$10	13.1 bp −$131	35.9 bp −$3,591	99.4 bp −$49.7K
Sell SunX live order book, 9 min ago	15.07 bp	23.6 bp −$24	39.5 bp −$395	doesn't fit	doesn't fit

BNB on 45 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 −0.0170% / S +0.0337%	1h	787.41	+0.008%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.96	+0.078%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.18	+0.106%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.47	+0.016%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.254%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0050%	8h	787.62	+0.035%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0051%	8h	787.97	+0.079%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0061%	8h	788.50	+0.147%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	787.94	+0.075%	$490.5M	$820.7M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	+0.077%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.03	+0.087%	$68.9M	$51.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.006%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.64	+0.038%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.25	−0.012%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.12	+0.098%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.84	+0.063%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.006%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.006%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	+0.032%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.40	+0.007%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.08	−0.034%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.15	−0.025%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.86	+0.065%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	+0.008%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.95	+0.077%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	+0.107%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.30	−0.006%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.47	+0.016%	$265K	$470K	50x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	788.21	+0.110%	$12K	$1.5M	50x
SoDEX BNB-USD	+0.0100%	1h	787.60	+0.032%	$387K	$979K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.68	+0.043%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.16	+0.104%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.07	−0.035%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.55	+0.026%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0123%	8h	788.00	+0.083%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	+0.045%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	788.16	+0.103%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.86	+0.066%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSDlong	+0.0205%	1h	787.35	long leg	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	+0.0230%	8h	788.28	+0.119%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.23	+0.112%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	+0.124%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.12	−0.028%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.69	+0.044%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	787.60	+0.033%	$67K	$39K	12x	as long as short