BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h −0.013%

Price spread now: SoDEX against Deribit−0.046%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Deribit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.013%+$1 · spread now −0.046%, 7d avg −0.024%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SoDEX is 0.023% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.024%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.004% in total (about -0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. 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	Deribit BNB_USDC-PERPETUAL	795.47	0.0300	pay 0.0037% / 1h	23m 51s	$1.6M	$160K	25x
Short	SoDEX BNB-USD	795.10	0.0100	get 0.0013% / 1h	23m 51s	$391K	$997K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Deribit. 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 DeribitbpFee SoDEXbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$42
Price spread: −0.046% → −0.024%: −$2.27
Slippage, 4 orders: −$11.95
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$71.22
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from Deribit: live order book, just now; SoDEX: live order book, 60 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 Deribit live order book, just now	2.58 bp	7.6 bp −$8	13.5 bp −$135	doesn't fit	doesn't fit
Sell SoDEX live order book, 60 min ago	0.63 bp	4.9 bp −$5	8.6 bp −$86	81.8 bp −$8,184	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	794.88	−0.074%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0131%	1h	795.01	−0.058%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	795.33	−0.018%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	796.25	+0.098%	$860K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.94	−0.067%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	795.62	+0.019%	$4.1M	$4.8M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.209%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	795.72	+0.032%	$6.1M	$19.7M	200x	as long as short
Gate BNB_USDT	+0.0049%	8h	795.00	−0.059%	$35.4M	$56.3M	75x	as long as short
BingX BNB-USDC	+0.0050%	8h	795.45	−0.002%	—	$13.4M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0054%	8h	795.60	+0.016%	$69.6M	$50.8M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.008%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	795.90	+0.054%	$82.6M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	795.73	+0.032%	$495.1M	$810.5M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0064%	8h	795.99	+0.066%	$3.0M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0072%	1h	795.36	−0.013%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	795.80	+0.042%	$171K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	795.28	−0.024%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.94	−0.067%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	795.20	−0.034%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	795.73	+0.033%	$52.1M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	795.38	−0.012%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	795.14	−0.041%	$139.0M	$75.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	794.90	−0.072%	$53.3M	$110.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	795.30	−0.021%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	794.93	−0.068%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	794.88	−0.074%	$77.4M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	795.83	+0.045%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.74	−0.092%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.88	−0.074%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	795.11	−0.046%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	795.36	−0.014%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USDshort	+0.0100%	1h	795.10	−0.046%	$391K	$997K	10x
HTX BNB-USDT	+0.0100%	8h	795.34	−0.017%	$8.2M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	795.61	+0.018%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	794.80	−0.085%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	795.15	−0.040%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	795.25	−0.028%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0156%	8h	795.40	−0.009%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0195%	1h	795.93	+0.057%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	795.49	+0.003%	$28K	$2K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0300%	1h	795.47	long leg	$1.6M	$160K	25x
Reya BNBRUSDPERP	+0.0329%	1h	794.72	−0.094%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0381%	1h	795.86	+0.049%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	795.94	+0.059%	$68K	$38K	12x	as long as short