Funding you earn now, next payment 22:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.008%
Price spread now: Phemex against Derive+0.059%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.059% dearer against Derive than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BNB-PERP | 804.57 | 0.0100 | pay 0.0013% / 1h | 28m 03s | $32K | $5K | 10x |
| Short | Phemex BNBUSDT | 805.04 | 0.0125 | get 0.0125% / 8h | 2h 28m | $70.2M | $51.7M | 50x |
Derive BNB-PERP
Phemex BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Derive. 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
- $5.26
- Price spread: +0.059% → 0.000%
- $5.87
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$6.88
- Costs to cover
- 0.180%
- Break-even
- 16.2 days
Slippage unknown: Derive: no order-book sample; Phemex: live order book, 6 min ago. Net counts fees only.
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 Derive no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 6 min ago | 0.44 bp | 6.6 bp −$7 | 7.2 bp −$72 | 12.7 bp −$1,272 | doesn't fit |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 −0.0195% / S +0.0371% | 1h | 804.32 | −0.031% | $49K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 804.71 | +0.018% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 804.60 | +0.005% | $3.0M | $29.3M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 804.90 | +0.041% | $112K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 804.09 | −0.059% | $869K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 804.42 | −0.018% | $9.8M | — | 150x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0038% | 1h | 804.53 | −0.004% | $2.5M | $909K | 50x | as long as short |
| Variational Omni BNB | +0.0049% | 8h | 803.71 | −0.106% | $4.0M | $5.4M | — | as long as short |
| BingX BNB-USDT | +0.0054% | 8h | 804.51 | −0.007% | — | $34.5M | — | as long as short |
| Bybit BNBUSDT | +0.0075% | 8h | 804.20 | −0.046% | $139.5M | $82.6M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Kraken Futures PF_BNBUSD
Variational Omni BNB
BingX BNB-USDT
Bybit BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International BNB-PERP-INTX | +0.0088% | 1h | 804.19 | −0.047% | $609K | $878K | 50x | as long as short |
| Aster BNBUSDT | +0.0090% | 8h | 805.12 | +0.068% | $6.4M | $18.8M | 200x | as long as short |
| Lighter BNB | +0.0096% | 1h | 804.64 | +0.008% | $2.8M | $4.2M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 804.08 | −0.061% | $1.4M | $2.8M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 804.59 | +0.003% | $1.2M | $923K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 804.50 | −0.008% | $55.1M | $115.7M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 804.60 | +0.004% | $53K | $165K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 804.30 | −0.033% | $35.9M | $58.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 804.16 | −0.051% | $28.2M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 804.16 | −0.051% | $79.1M | $24.5M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 804.62 | +0.006% | $4.2M | $76.9M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 804.73 | +0.020% | $159K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 804.27 | −0.037% | $118K | $868K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 804.43 | −0.017% | $389K | $593K | 50x | as long as short |
| Derive BNB-PERPlong | +0.0100% | 1h | 804.57 | long leg | $32K | $5K | 10x | |
| SunX BNB-USDT | +0.0100% | 8h | 805.00 | +0.053% | $13K | $1.7M | 50x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0100% | 1h | 804.90 | +0.041% | $1.6M | $165K | 25x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 804.24 | −0.040% | $8.2M | $7.4M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 805.03 | +0.058% | $79K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 804.08 | −0.060% | $1.9M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 804.43 | −0.017% | $386K | $40K | 10x | as long as short |
| MEXC BNB_USDT | +0.0107% | 8h | 805.40 | +0.103% | $84.5M | $13.6M | 200x | as long as short |
| Binance BNBUSDT | +0.0108% | 8h | 805.29 | +0.090% | $519.6M | $803.1M | 75x | as long as short |
| Phemex BNBUSDTshort | +0.0125% | 8h | 805.04 | +0.059% | $70.2M | $51.7M | 50x | |
| Phoenix BNB | +0.0125% | 1h | 803.93 | −0.079% | $173K | $35K | 10x | as long as short |
| Hyperliquid BNB | +0.0164% | 1h | 805.18 | +0.076% | $51.7M | $21.3M | 10x | as long as short |
| SoDEX BNB-USD | +0.0184% | 1h | 804.50 | −0.008% | $396K | $1.0M | 10x | as long as short |
| Bulk BNB-USD | +0.0197% | 1h | 804.34 | −0.028% | $650K | $11K | 10x | as long as short |
| RISEx BNB/USDC | +0.0209% | 1h | 804.71 | +0.018% | $1.1M | $1.4M | 20x | as long as short |
| BloFin BNB-USDT | +0.0227% | 8h | 804.67 | +0.013% | $18.8M | $3.1M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0240% | 1h | 804.11 | −0.057% | $71K | $48K | 12x | as long as short |
| dYdX BNB-USD | +0.0280% | 1h | 804.28 | −0.036% | $170K | $55K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0328% | 1h | 805.29 | +0.090% | $28K | $1K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0334% | 1h | 804.09 | −0.060% | $6K | $3K | 40x | as long as short |
| Injective BNB/USDC PERP | +0.0353% | 1h | 804.89 | +0.040% | $19K | $627K | 30x | as long as short |
| Backpack BNB_USDC_PERP | +0.0651% | 1h | 805.46 | +0.111% | $3.0M | $5.4M | 40x | as long as short |
Coinbase International BNB-PERP-INTX
Aster BNBUSDT
Lighter BNB
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
SunX BNB-USDT
Deribit BNB_USDC-PERPETUAL
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
MEXC BNB_USDT
Binance BNBUSDT
Phoenix BNB
Hyperliquid BNB
SoDEX BNB-USD
Bulk BNB-USD
RISEx BNB/USDC
BloFin BNB-USDT
Hibachi BNB/USDT-P
dYdX BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
Injective BNB/USDC PERP
Backpack BNB_USDC_PERP