Funding you earn now, next payment 22:00 UTC+0.0147%/8h= +16.1% APRnext payment +$0.18 per $10,000 · paid last 24h +0.037%
Price spread now: Phoenix against gTrade (Gains Network)+0.163%7-day average +0.086% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$287as in the Price arb table
costs, in and out, $10k−$2952.948% of the position
Funding, last 3 days (all we have)+0.142%+$14 on $10k
+Price spread, last 3 days (all we have)−0.047%−$5 · spread now +0.163%, 7d avg +0.086%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.077% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.086%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BNB/USD | 804.97 | L +0.0008% / S −0.0007% | pay 0.0001% / 1h | 34m 51s | $9.8M | — | 150x |
| Short | Phoenix BNB | 806.28 | 0.0155 | get 0.0019% / 1h | 34m 51s | $173K | $35K | 10x |
gTrade (Gains Network) BNB/USD
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against gTrade (Gains Network). 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
- $30.92
- Price spread: +0.163% → +0.086%
- $7.71
- Slippage, 4 orders
- −$277.81
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$256.17
- Costs to cover
- 2.948%
- Break-even
- 65.0 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Phoenix: live order book, 41 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 gTrade (Gains Network) virtual book (oracle venue), 4 min ago | 130.01 bp | 135.0 bp −$135 | 135.0 bp −$1,350 | 416.8 bp −$41.7K | 2253.7 bp −$1.13M |
| Sell Phoenix live order book, 41 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 −0.0201% / S +0.0372% | 1h | 804.85 | −0.014% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 806.40 | +0.178% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 806.32 | +0.168% | $3.0M | $29.1M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 805.10 | +0.016% | $114K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 805.76 | +0.098% | $871K | $2.8M | 30x | as long as short |
| gTrade (Gains Network) BNB/USDlong | L +0.0008% / S −0.0007% | 1h | 804.97 | long leg | $9.8M | — | 150x | |
| Variational Omni BNB | +0.0041% | 8h | 805.56 | +0.073% | $4.1M | $5.3M | — | as long as short |
| BingX BNB-USDC | +0.0058% | 8h | 804.72 | −0.031% | — | $13.3M | — | as long as short |
| Bybit BNBUSDT | +0.0083% | 8h | 804.00 | −0.120% | $139.4M | $81.3M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 805.08 | +0.015% | $2.8M | $4.2M | 20x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
Variational Omni BNB
BingX BNB-USDC
Bybit BNBUSDT
Lighter BNBShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International BNB-PERP-INTX | +0.0096% | 1h | 804.75 | −0.027% | $607K | $881K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 804.35 | −0.077% | $1.5M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 805.03 | +0.008% | $1.2M | $923K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 804.10 | −0.108% | $55.0M | $115.9M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 805.50 | +0.066% | $53K | $170K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 804.20 | −0.095% | $36.0M | $57.7M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 804.18 | −0.098% | $28.1M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 803.96 | −0.125% | $79.2M | $25.3M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 806.66 | +0.210% | $4.2M | $76.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 806.65 | +0.209% | $162K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 805.03 | +0.008% | $115K | $873K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 804.92 | −0.006% | $389K | $592K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 805.13 | +0.020% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 805.50 | +0.065% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 803.99 | −0.122% | $8.2M | $7.7M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 805.38 | +0.051% | $79K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 803.92 | −0.130% | $1.9M | $6.0M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 805.09 | +0.015% | $387K | $40K | 10x | as long as short |
| Aster BNBUSDT | +0.0106% | 8h | 804.89 | −0.010% | $6.4M | $18.9M | 200x | as long as short |
| Hibachi BNB/USDT-P | +0.0112% | 1h | 806.23 | +0.157% | $71K | $48K | 12x | as long as short |
| MEXC BNB_USDT | +0.0122% | 8h | 805.40 | +0.054% | $84.6M | $13.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0123% | 8h | 804.89 | −0.009% | $519.1M | $807.0M | 75x | as long as short |
| Phemex BNBUSDT | +0.0133% | 8h | 805.50 | +0.066% | $70.3M | $51.8M | 50x | as long as short |
| Phoenix BNBshort | +0.0155% | 1h | 806.28 | +0.163% | $173K | $35K | 10x | |
| SoDEX BNB-USD | +0.0165% | 1h | 804.90 | −0.008% | $396K | $1.0M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 805.39 | +0.053% | $1.6M | $165K | 25x | as long as short |
| dYdX BNB-USD | +0.0201% | 1h | 804.30 | −0.084% | $162K | $63K | 10x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0205% | 1h | 804.75 | −0.027% | $2.5M | $939K | 50x | as long as short |
| BloFin BNB-USDT | +0.0243% | 8h | 805.45 | +0.060% | $18.8M | $2.6M | 75x | as long as short |
| Hyperliquid BNB | +0.0245% | 1h | 805.25 | +0.035% | $52.1M | $22.0M | 10x | as long as short |
| Bulk BNB-USD | +0.0295% | 1h | 807.66 | +0.334% | $652K | $14K | 10x | as long as short |
| Injective BNB/USDC PERP | +0.0311% | 1h | 805.09 | +0.015% | $19K | $789K | 30x | as long as short |
| RISEx BNB/USDC | +0.0318% | 1h | 805.38 | +0.051% | $1.1M | $1.4M | 20x | as long as short |
| Reya BNBRUSDPERP | +0.0333% | 1h | 804.85 | −0.014% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0352% | 1h | 805.84 | +0.108% | $29K | $1K | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0686% | 1h | 805.80 | +0.103% | $3.0M | $5.5M | 40x | as long as short |
Coinbase International BNB-PERP-INTX
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
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Aster BNBUSDT
Hibachi BNB/USDT-P
MEXC BNB_USDT
Binance BNBUSDT
Phemex BNBUSDT
SoDEX BNB-USD
Deribit BNB_USDC-PERPETUAL
dYdX BNB-USD
Kraken Futures PF_BNBUSD
BloFin BNB-USDT
Hyperliquid BNB
Bulk BNB-USD
Injective BNB/USDC PERP
RISEx BNB/USDC
Reya BNBRUSDPERP
01 Exchange BNBUSD
Backpack BNB_USDC_PERP