Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0224%/8h= −24.6% APRpaid last 24h +0.007%

Price spread now: Kraken Futures against SunX−0.098%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.098%, 7d avg −0.082%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% a year). A funding rate is set anew for every payment. 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	SunX BNB-USDT	788.85	0.0100	pay 0.0100% / 8h	3h 20m	$12K	$1.5M	50x
Short	Kraken Futures PF_BNBUSD	788.08	−0.0124	pay 0.0016% / 1h	20m 21s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$47.09
Price spread: −0.098% → −0.082%: −$1.56
Slippage, 4 orders: −$47.79
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$114.45
Costs to cover: 0.658%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Kraken Futures: 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 SunX live order book, 5 min ago	15.07 bp	21.6 bp −$22	29.1 bp −$291	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.49 bp	9.8 bp −$10	13.7 bp −$137	33.4 bp −$3,344	105.7 bp −$52.9K

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 −0.0192% / S +0.0356%	1h	788.21	−0.081%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0124%	1h	788.08	−0.098%	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	787.93	−0.117%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.90	+0.006%	$126K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.56	−0.037%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.26	−0.075%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0023%	8h	788.72	−0.017%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.058%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0036%	8h	787.94	−0.116%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0043%	8h	788.51	−0.043%	$491.6M	$800.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0043%	8h	789.40	+0.069%	$80.0M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0044%	8h	788.62	−0.029%	$69.0M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.19	−0.211%	$588K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	788.22	−0.080%	$169K	$35K	10x	as long as short
dYdX BNB-USD	+0.0093%	1h	787.87	−0.125%	$159K	$63K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.09	−0.097%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.33	−0.066%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	−0.108%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.81	−0.005%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.83	−0.129%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.90	−0.121%	$138.6M	$73.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.20	−0.083%	$53.5M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	−0.070%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.15	−0.089%	$36.0M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.04	−0.103%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.96	−0.113%	$76.3M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.75	−0.140%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.183%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.22	−0.081%	$4.1M	$74.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.44	−0.052%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.088%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.40	−0.057%	$31K	$12K	10x	as long as short
SunX BNB-USDTlong	+0.0100%	8h	788.85	long leg	$12K	$1.5M	50x
SoDEX BNB-USD	+0.0100%	1h	788.30	−0.070%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.16	−0.087%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.36	−0.063%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.84	−0.129%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.29	−0.072%	$379K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0163%	8h	788.23	−0.079%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0174%	8h	788.49	−0.046%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0193%	1h	788.28	−0.072%	$638K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.79	−0.008%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.77	−0.010%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	788.00	−0.108%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	787.79	−0.134%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.50	−0.045%	$1.1M	$893K	20x	as long as short