Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0121%/8h= −13.2% APRpaid last 24h −0.001%

Price spread now: Kraken Futures against KuCoin+0.089%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)−0.346%−$35 · spread now +0.089%, 7d avg +0.004%

Together, before fees−0.421%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.085% dearer against KuCoin than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.004%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.075% in total) that is about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	785.03	0.0100	pay 0.0100% / 8h	7h 36m	$27.7M	$10.2M	75x
Short	Kraken Futures PF_BNBUSD	785.73	−0.0021	pay 0.0003% / 1h	36m 18s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$25.33
Price spread: +0.089% → +0.004%: $8.49
Slippage, 4 orders: −$21.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$59.87
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Kraken Futures: live order book, 2 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 KuCoin live order book, 3 min ago	0.45 bp	8.9 bp −$9	20.3 bp −$203	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.44 bp	8.4 bp −$8	11.9 bp −$119	33.6 bp −$3,362	87.4 bp −$43.7K

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 −0.0168% / S +0.0337%	1h	785.38	+0.044%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.37	+0.171%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0021%	1h	785.73	+0.089%	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	0.0000%	8h	786.12	+0.139%	$2.9M	$27.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	786.71	+0.214%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.81	+0.100%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0023%	8h	785.91	+0.113%	$6.0M	$18.4M	200x	as long as short
BingX BNB-USDT	+0.0032%	8h	785.52	+0.062%	—	$22.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.555%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0039%	8h	786.90	+0.238%	$82.4M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0040%	8h	785.82	+0.101%	$488.5M	$812.5M	75x	as long as short
Lighter BNB	+0.0096%	1h	785.70	+0.085%	$2.7M	$3.6M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.35	+0.041%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.00	+0.123%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.81	+0.099%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.24	+0.027%	$138.3M	$73.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.30	+0.034%	$53.4M	$110.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.70	+0.085%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.45	+0.054%	$39.3M	$55.7M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	785.03	long leg	$27.7M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	785.14	+0.014%	$75.3M	$32.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.16	+0.144%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.22	+0.024%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.98	+0.121%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.12	+0.139%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.54	+0.065%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.54	+0.065%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.93	+0.115%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.96	+0.119%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.80	+0.098%	$386K	$943K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.00	+0.124%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.09	+0.136%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.09	+0.008%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.53	+0.064%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	786.40	+0.175%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	786.59	+0.199%	$548K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	786.32	+0.164%	$158K	$38K	10x	as long as short
dYdX BNB-USD	+0.0128%	1h	785.69	+0.085%	$157K	$64K	10x	as long as short
Phemex BNBUSDT	+0.0133%	8h	786.41	+0.176%	$68.5M	$51.2M	50x	as long as short
BloFin BNB-USDT	+0.0158%	8h	786.34	+0.167%	$17.8M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.96	+0.118%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0212%	1h	785.97	+0.120%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	785.89	+0.110%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	785.26	+0.029%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	785.63	+0.077%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	786.13	+0.140%	$67K	$39K	12x	as long as short