Funding you earn now, next payment 05:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.032%
Price spread now: Phoenix against BloFin−0.102%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$370.370% of the position
Funding, last 7 days+0.011%+$1 on $10k
+Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.102%, 7d avg −0.006%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.096% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.006%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin BNB-USDT | 785.15 | 0.0177 | pay 0.0177% / 8h | 2h 22m | $17.7M | $2.2M | 75x |
| Short | Phoenix BNB | 784.35 | 0.0107 | get 0.0013% / 1h | 22m 28s | $169K | $35K | 10x |
BloFin BNB-USDT
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BloFin. 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
- −$14.78
- Price spread: −0.102% → −0.006%
- −$9.64
- Slippage, 4 orders
- −$18.03
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$61.45
- Costs to cover
- 0.370%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 6 min ago; Phoenix: live order book, 19 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 BloFin live order book, 6 min ago | 0.13 bp | 6.1 bp −$6 | 6.8 bp −$68 | 15.8 bp −$1,576 | doesn't fit |
| Sell Phoenix live order book, 19 min ago | 1.02 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 −0.0192% / S +0.0356% | 1h | 785.14 | −0.002% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 785.08 | −0.009% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 785.20 | +0.006% | $847K | $3.0M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 785.23 | +0.010% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0033% | 8h | 785.74 | +0.075% | $6.1M | $19.0M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.540% | $19K | $789K | 30x | as long as short |
| BingX BNB-USDC | +0.0042% | 8h | 785.02 | −0.017% | — | $13.4M | — | as long as short |
| Phemex BNBUSDT | +0.0051% | 8h | 785.01 | −0.018% | $68.7M | $50.5M | 50x | as long as short |
| MEXC BNB_USDT | +0.0057% | 8h | 786.10 | +0.121% | $80.3M | $12.0M | 200x | as long as short |
| Binance BNBUSDT | +0.0058% | 8h | 786.00 | +0.108% | $489.7M | $811.7M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
Injective BNB/USDC PERP
BingX BNB-USDC
Phemex BNBUSDT
MEXC BNB_USDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_BNBUSD | +0.0069% | 1h | 784.31 | −0.107% | $2.5M | $1.2M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 784.62 | −0.068% | $567K | $1.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 784.89 | −0.034% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 785.57 | +0.053% | $264K | $489K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 784.85 | −0.038% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 785.96 | +0.103% | $51.4M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 785.07 | −0.010% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 785.37 | +0.028% | $137.9M | $74.7M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 785.40 | +0.032% | $53.3M | $112.5M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 785.20 | +0.006% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 785.35 | +0.025% | $36.5M | $58.9M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 784.85 | −0.038% | $27.6M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.03 | −0.015% | $76.0M | $31.0M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 784.97 | −0.023% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 783.72 | −0.182% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 784.31 | −0.107% | $4.1M | $75.2M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 784.92 | −0.029% | $158K | $439K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 785.24 | +0.011% | $131K | $951K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 784.51 | −0.082% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 784.95 | −0.026% | $12K | $1.5M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 784.69 | −0.059% | $8.0M | $10.0M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 785.15 | 0.000% | $76K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 784.69 | −0.059% | $1.8M | $6.2M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 784.49 | −0.085% | $377K | $110K | 10x | as long as short |
| SoDEX BNB-USD | +0.0105% | 1h | 784.50 | −0.083% | $386K | $993K | 10x | as long as short |
| Phoenix BNBshort | +0.0107% | 1h | 784.35 | −0.102% | $169K | $35K | 10x | |
| Kalshi KXBNBPERP | +0.0149% | 8h | 785.10 | −0.006% | $161K | $2.7M | 4.8x | as long as short |
| dYdX BNB-USD | +0.0167% | 1h | 784.36 | −0.101% | $159K | $62K | 10x | as long as short |
| BloFin BNB-USDTlong | +0.0177% | 8h | 785.15 | long leg | $17.7M | $2.2M | 75x | |
| GRVT BNB_USDT_Perp | +0.0210% | 8h | 785.65 | +0.064% | $2.9M | $29.2M | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0296% | 1h | 785.92 | +0.098% | $28K | $4K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 784.84 | −0.040% | $1.5M | $143K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0323% | 1h | 785.11 | −0.005% | $6K | $3K | 40x | as long as short |
| Bulk BNB-USD | +0.0341% | 1h | 785.39 | +0.031% | $637K | $4K | 10x | as long as short |
| RISEx BNB/USDC | +0.0432% | 1h | 785.35 | +0.025% | $1.1M | $903K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0520% | 1h | 784.71 | −0.056% | $67K | $39K | 12x | as long as short |
Kraken Futures PF_BNBUSD
Coinbase International BNB-PERP-INTX
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
SoDEX BNB-USD
Kalshi KXBNBPERP
dYdX BNB-USD
GRVT BNB_USDT_Perp
01 Exchange BNBUSD
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
Bulk BNB-USD
RISEx BNB/USDC
Hibachi BNB/USDT-P