Funding you earn now, next payment 22:00 UTC+0.0055%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h +0.010%
Price spread now: Phoenix against ApeX Omni−0.089%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$440.440% of the position
Funding, last 7 days+0.182%+$18 on $10k
+Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.089%, 7d avg +0.019%
=Funding pays, the price is against you. Phoenix is 0.108% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.019%). If the spread goes back, that is −$11 on $10k: about 6.5 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni BNBUSDT | 801.48 | 0.0100 | pay 0.0013% / 1h | 56m 32s | $161K | $442K | 50x |
| Short | Phoenix BNB | 800.77 | 0.0155 | get 0.0019% / 1h | 56m 32s | $172K | $34K | 10x |
ApeX Omni BNBUSDT
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against ApeX Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $11.57
- Price spread: −0.089% → +0.019%
- −$10.75
- Slippage, 4 orders
- −$27.02
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$43.2
- Costs to cover
- 0.440%
- Break-even
- 33.2 days
Slippage from ApeX Omni: live order book, 21 min ago; Phoenix: live order book, 15 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 ApeX Omni live order book, 21 min ago | 4.55 bp | 9.6 bp −$10 | 38.4 bp −$384 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 15 min ago | 1.00 bp | 12.4 bp −$12 | 43.2 bp −$432 | 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 −0.0201% / S +0.0372% | 1h | 802.22 | +0.093% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 802.52 | +0.130% | $4K | $1K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0074% | 1h | 802.20 | +0.090% | $2.6M | $969K | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 800.99 | −0.061% | $3.0M | $28.4M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 802.75 | +0.158% | $868K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 802.23 | +0.094% | $9.8M | — | 150x | as long as short |
| Variational Omni BNB | +0.0031% | 8h | 800.04 | −0.179% | $4.2M | $5.4M | — | as long as short |
| BingX BNB-USDT | +0.0053% | 8h | 802.29 | +0.101% | — | $34.8M | — | as long as short |
| Bybit BNBUSDT | +0.0066% | 8h | 802.00 | +0.065% | $139.4M | $78.6M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0072% | 1h | 800.72 | −0.095% | $607K | $998K | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDT
Bybit BNBUSDT
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BNB | +0.0096% | 1h | 802.44 | +0.120% | $2.8M | $4.1M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 802.06 | +0.073% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 802.42 | +0.117% | $1.2M | $926K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 802.20 | +0.090% | $54.8M | $113.6M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 802.70 | +0.152% | $53K | $134K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 802.00 | +0.065% | $35.8M | $57.4M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 802.03 | +0.069% | $28.0M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 801.89 | +0.051% | $79.8M | $27.3M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 801.60 | +0.015% | $4.2M | $77.5M | 30x | as long as short |
| ApeX Omni BNBUSDTlong | +0.0100% | 1h | 801.48 | long leg | $161K | $442K | 50x | |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 802.00 | +0.065% | $119K | $874K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 802.26 | +0.097% | $388K | $489K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 802.43 | +0.119% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 802.93 | +0.181% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 802.16 | +0.085% | $8.2M | $7.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 802.75 | +0.158% | $78K | $19K | 50x | as long as short |
| Aster BNBUSDT | +0.0102% | 8h | 802.97 | +0.186% | $6.4M | $18.9M | 200x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 801.71 | +0.029% | $1.9M | $6.4M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 802.53 | +0.130% | $386K | $40K | 10x | as long as short |
| Phemex BNBUSDT | +0.0114% | 8h | 802.81 | +0.166% | $70.2M | $51.1M | 50x | as long as short |
| Kalshi KXBNBPERP | +0.0117% | 8h | 802.40 | +0.115% | $109K | $2.9M | 4.8x | as long as short |
| MEXC BNB_USDT | +0.0121% | 8h | 803.00 | +0.190% | $83.5M | $13.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0123% | 8h | 803.05 | +0.196% | $502.5M | $818.8M | 75x | as long as short |
| Phoenix BNBshort | +0.0155% | 1h | 800.77 | −0.089% | $172K | $34K | 10x | |
| BloFin BNB-USDT | +0.0242% | 8h | 802.83 | +0.168% | $18.2M | $2.5M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0248% | 1h | 801.96 | +0.060% | $71K | $49K | 12x | as long as short |
| SoDEX BNB-USD | +0.0254% | 1h | 802.30 | +0.102% | $394K | $1.0M | 10x | as long as short |
| RISEx BNB/USDC | +0.0258% | 1h | 802.49 | +0.126% | $1.1M | $1.4M | 20x | as long as short |
| Bulk BNB-USD | +0.0289% | 1h | 801.15 | −0.041% | $651K | $20K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 802.74 | +0.157% | $1.6M | $165K | 25x | as long as short |
| Injective BNB/USDC PERP | +0.0306% | 1h | 805.09 | +0.450% | $19K | $789K | 30x | as long as short |
| Hyperliquid BNB | +0.0330% | 1h | 803.02 | +0.192% | $51.9M | $21.6M | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0332% | 1h | 802.48 | +0.125% | $2.7M | $5.7M | 40x | as long as short |
| Reya BNBRUSDPERP | +0.0332% | 1h | 801.71 | +0.029% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0432% | 1h | 803.42 | +0.242% | $28K | $1K | 10x | as long as short |
| dYdX BNB-USD | +0.0510% | 1h | 802.23 | +0.094% | $162K | $62K | 10x | as long as short |
Lighter BNB
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Aster BNBUSDT
Extended BNB-USD
Aevo BNB-PERP
Phemex BNBUSDT
Kalshi KXBNBPERP
MEXC BNB_USDT
Binance BNBUSDT
BloFin BNB-USDT
Hibachi BNB/USDT-P
SoDEX BNB-USD
RISEx BNB/USDC
Bulk BNB-USD
Deribit BNB_USDC-PERPETUAL
Injective BNB/USDC PERP
Hyperliquid BNB
Backpack BNB_USDC_PERP
Reya BNBRUSDPERP
01 Exchange BNBUSD
dYdX BNB-USD