BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0021%/8h= +2.3% APRnext payment +$0.03 per $10,000 · paid last 24h +0.009%

Price spread now: Phoenix against Extended+0.080%88s7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.312% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 3 days (all we have)+0.167%+$17 · spread now +0.080%, 7d avg +0.142%

Together, before fees+0.368%+ Points / potential airdropExtended: Active · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.062% cheaper against Extended than usual: you would sell low and buy high (spread +0.080% now, against its 7-day average of +0.142%). If the spread goes back, that is −$6 on $10k: about 9.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.201% in total) that is about 2.2 days. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended BNB-USD	805.30	0.0104	pay 0.0013% / 1h	53m 52s	$1.9M	$5.9M	50x
Short	Phoenix BNB	805.95	0.0125	get 0.0016% / 1h	53m 52s	$173K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Extended. 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 ExtendedbpFee PhoenixbpOrdersPrice spread, now +0.080%Rate

Funding earned: $4.44
Price spread: +0.080% → +0.142%: −$6.23
Slippage, 4 orders: −$19.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$32.98
Costs to cover: 0.312%
Break-even: 59.0 days

Slippage from Extended: live order book, 5 min ago; Phoenix: live order book, 22 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 Extended live order book, 5 min ago	0.06 bp	3.2 bp −$3	4.2 bp −$42	doesn't fit	doesn't fit
Sell Phoenix live order book, 22 min ago	0.99 bp	12.4 bp −$12	43.1 bp −$431	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 −0.0195% / S +0.0371%	1h	805.73	+0.053%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	806.97	+0.207%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.83	−0.059%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.50	+0.148%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.22	+0.114%	$871K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	805.76	+0.057%	$9.8M	—	150x	as long as short
Hibachi BNB/USDT-P	+0.0024%	1h	806.43	+0.140%	$71K	$48K	12x	as long as short
Variational Omni BNB	+0.0044%	8h	805.28	−0.003%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0056%	8h	805.64	+0.042%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	805.30	−0.001%	$139.4M	$82.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.79	+0.060%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	+0.057%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.15	+0.105%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	806.68	+0.171%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.30	−0.001%	$55.1M	$116.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	806.80	+0.186%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.55	+0.030%	$36.2M	$57.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.53	+0.028%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.17	−0.017%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.99	−0.039%	$4.2M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.61	−0.086%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.00	+0.086%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.80	+0.062%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.03	+0.090%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	806.99	+0.209%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	806.19	+0.110%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.88	+0.072%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.03	+0.214%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0103%	8h	806.16	+0.106%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USDlong	+0.0104%	1h	805.30	long leg	$1.9M	$5.9M	50x
Aevo BNB-PERP	+0.0104%	1h	805.93	+0.078%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.60	+0.161%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	806.12	+0.101%	$520.5M	$806.0M	75x	as long as short
Phoenix BNBshort	+0.0125%	1h	805.95	+0.080%	$173K	$35K	10x
Hyperliquid BNB	+0.0131%	1h	806.17	+0.107%	$51.9M	$22.0M	10x	as long as short
Phemex BNBUSDT	+0.0139%	8h	806.28	+0.121%	$70.4M	$51.9M	50x	as long as short
dYdX BNB-USD	+0.0144%	1h	806.44	+0.141%	$163K	$63K	10x	as long as short
SoDEX BNB-USD	+0.0194%	1h	805.80	+0.062%	$396K	$1.0M	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.59	+0.036%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0237%	8h	806.74	+0.178%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0273%	1h	805.26	−0.006%	$650K	$14K	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.027%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	806.66	+0.168%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	805.68	+0.047%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0360%	1h	807.31	+0.249%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0721%	1h	806.58	+0.158%	$3.0M	$5.5M	40x	as long as short