BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.14 per $10,000 · paid last 24h +0.005%

Price spread now: Phemex against Bybit+0.049%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.049%, 7d avg +0.099%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phemex is 0.050% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.099%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	793.60	0.0064	pay 0.0064% / 8h	6h 50m	$138.1M	$77.1M	75x
Short	Phemex BNBUSDT	793.99	0.0051	get 0.0051% / 8h	6h 50m	$69.4M	$50.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$2.89
Price spread: +0.049% → +0.099%: −$4.97
Slippage, 4 orders: −$7.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$38.72
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 4 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 Bybit live order book, 4 min ago	0.63 bp	7.1 bp −$7	8.4 bp −$84	22.7 bp −$2,268	144.6 bp −$72.3K
Sell Phemex live order book, 4 min ago	0.06 bp	7.3 bp −$7	9.4 bp −$94	12.8 bp −$1,284	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 −0.0161% / S +0.0334%	1h	793.24	−0.045%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.34	−0.033%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.55	−0.006%	$4K	$239	25x	as long as short
Gate BNB_USDT	−0.0026%	8h	793.50	−0.013%	$35.5M	$55.2M	75x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	792.87	−0.092%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	793.88	+0.035%	$858K	$3.0M	30x	as long as short
Variational Omni BNB	+0.0006%	8h	792.93	−0.085%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.18	−0.052%	$9.7M	—	150x	as long as short
dYdX BNB-USD	+0.0031%	1h	793.28	−0.040%	$160K	$63K	10x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.448%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0034%	8h	794.19	+0.074%	$6.1M	$19.9M	200x	as long as short
BingX BNB-USDT	+0.0036%	8h	793.72	+0.015%	—	$35.0M	—	as long as short
Phemex BNBUSDTshort	+0.0051%	8h	793.99	+0.049%	$69.4M	$50.3M	50x
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.39	−0.278%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	794.30	+0.088%	$82.3M	$12.7M	200x	as long as short
Binance BNBUSDT	+0.0062%	8h	794.21	+0.077%	$494.1M	$818.6M	75x	as long as short
Bybit BNBUSDTlong	+0.0064%	8h	793.60	long leg	$138.1M	$77.1M	75x
Phoenix BNB	+0.0088%	1h	792.08	−0.192%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	793.78	+0.023%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	793.32	−0.035%	$383K	$468K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.35	−0.032%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	793.95	+0.044%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.50	−0.013%	$53.3M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.80	+0.025%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.29	−0.039%	$27.7M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.46	−0.018%	$77.5M	$28.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	792.62	−0.124%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	792.78	−0.103%	$160K	$434K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.42	−0.023%	$112K	$889K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.45	−0.019%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	793.74	+0.017%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.40	−0.025%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	792.96	−0.081%	$8.1M	$8.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	794.11	+0.065%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.33	−0.034%	$1.7M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.09	−0.064%	$381K	$110K	10x	as long as short
Hyperliquid BNB	+0.0111%	1h	794.12	+0.066%	$52.6M	$19.8M	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.81	+0.027%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0139%	1h	794.97	+0.173%	$646K	$10K	10x	as long as short
Kalshi KXBNBPERP	+0.0159%	8h	793.50	−0.013%	$106K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0182%	8h	794.09	+0.062%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	794.24	+0.081%	$28K	$1K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	793.81	+0.026%	$1.6M	$161K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.11	−0.062%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0354%	1h	793.86	+0.033%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0440%	1h	793.18	−0.053%	$68K	$38K	12x	as long as short