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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.010%
Price spread now: Phoenix against edgeX−0.017%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$370.374% of the position
Long on edgeXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.183%+$18 on $10k
Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.017%, 7d avg +0.015%
Together, before fees+0.202%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.032% cheaper against edgeX than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.015%). If the spread goes back, that is −$3 on $10k: about 4.3 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.183% in total) that is about 30 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX BNBUSDC802.910.0100pay 0.0050% / 4h2h 47m$4.2M$76.9M30x
ShortPhoenix BNB802.780.0125get 0.0016% / 1h47m 16s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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

Funding earned
$5.28
Price spread: −0.017% → +0.015%
−$3.21
Slippage, 4 orders
−$21.42
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$35.36
Costs to cover
0.374%
Break-even
53.9 days
Slippage from edgeX: live order book, 2 min ago; Phoenix: live order book, 35 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy edgeX live order book, 2 min ago1.87 bp6.4 bp −$66.4 bp −$649.8 bp −$976doesn't fit
Sell Phoenix live order book, 35 min ago0.99 bp12.3 bp −$1243.2 bp −$432doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h802.66−0.032%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h803.06+0.018%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h802.69−0.028%$3.0M$30.0M10xas long as short
Kalshi KXBNBPERP0.0000%8h803.30+0.048%$116K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h803.32+0.050%$868K$3.0M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h802.76−0.020%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h802.76−0.020%$2.5M$909K50xas long as short
Variational Omni BNB+0.0063%8h802.15−0.095%$4.1M$5.3M—as long as short
BingX BNB-USDT+0.0068%8h802.75−0.021%—$34.5M—as long as short
Aster BNBUSDT+0.0086%8h803.25+0.042%$6.4M$18.9M200xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h803.99+0.134%$608K$888K50xas long as short
Bybit BNBUSDT+0.0094%8h802.04−0.109%$138.7M$82.6M75xas long as short
Lighter BNB+0.0096%1h802.83−0.010%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h802.43−0.061%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h802.88−0.004%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h802.50−0.052%$54.9M$115.1M50xas long as short
Arcus BNB-USD+0.0100%1h802.70−0.027%$52K$161K10xas long as short
Gate BNB_USDT+0.0100%8h802.40−0.064%$35.9M$58.3M75xas long as short
KuCoin BNBUSDTM+0.0100%8h802.55−0.045%$28.1M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h802.35−0.070%$78.9M$24.5M75xas long as short
edgeX BNBUSDClong+0.0100%4h802.91long leg$4.2M$76.9M30x
ApeX Omni BNBUSDT+0.0100%1h803.32+0.050%$158K$437K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h802.58−0.042%$118K$868K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h802.73−0.023%$388K$593K50xas long as short
Derive BNB-PERP+0.0100%1h802.86−0.006%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h803.29+0.046%$13K$1.7M50xas long as short
SoDEX BNB-USD+0.0100%1h802.80−0.014%$395K$1.0M10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h803.20+0.035%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h802.95+0.004%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h803.45+0.066%$78K$19K50xas long as short
MEXC BNB_USDT+0.0101%8h803.70+0.098%$84.3M$13.5M200xas long as short
Binance BNBUSDT+0.0102%8h803.32+0.050%$518.2M$804.3M75xas long as short
Extended BNB-USD+0.0104%1h802.36−0.069%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h802.95+0.005%$386K$40K10xas long as short
Phemex BNBUSDT+0.0121%8h803.22+0.038%$70.1M$51.6M50xas long as short
Phoenix BNBshort+0.0125%1h802.78−0.017%$173K$35K10x
Bulk BNB-USD+0.0161%1h803.45+0.067%$649K$11K10xas long as short
Hyperliquid BNB+0.0162%1h803.34+0.053%$51.6M$21.3M10xas long as short
RISEx BNB/USDC+0.0209%1h803.05+0.017%$1.1M$1.4M20xas long as short
dYdX BNB-USD+0.0209%1h802.35−0.070%$170K$55K10xas long as short
BloFin BNB-USDT+0.0222%8h803.39+0.059%$18.8M$3.0M75xas long as short
Hibachi BNB/USDT-P+0.0248%1h802.53−0.048%$71K$48K12xas long as short
01 Exchange BNBUSD+0.0312%1h803.48+0.070%$28K$1K10xas long as short
Reya BNBRUSDPERP+0.0335%1h802.43−0.060%$6K$3K40xas long as short
Injective BNB/USDC PERP+0.0353%1h804.92+0.250%$19K$526K30xas long as short
Backpack BNB_USDC_PERP+0.0698%1h803.87+0.119%$3.0M$5.3M40xas long as short