BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0016%/8h= +1.7% APRnext payment +$0.16 per $10,000 · paid last 24h −0.004%

Price spread now: Phemex against Gate+0.030%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now +0.030%, 7d avg +0.084%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.054% cheaper against Gate than usual: you would sell low and buy high (spread +0.030% now, against its 7-day average of +0.084%). If the spread goes back, that is −$5 on $10k: about 12 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	794.65	0.0036	pay 0.0036% / 8h	6h 30m	$35.4M	$55.9M	75x
Short	Phemex BNBUSDT	794.89	0.0052	get 0.0052% / 8h	6h 30m	$69.5M	$50.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.030%Rate

Funding earned: $3.26
Price spread: +0.030% → +0.084%: −$5.43
Slippage, 4 orders: −$8.76
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$37.93
Costs to cover: 0.358%
Break-even: 88.5 days

Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 4 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 Gate live order book, 4 min ago	0.31 bp	11.0 bp −$11	13.7 bp −$137	29.4 bp −$2,939	59.7 bp −$29.9K
Sell Phemex live order book, 4 min ago	0.06 bp	6.1 bp −$6	6.2 bp −$62	10.6 bp −$1,063	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	794.30	−0.044%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0131%	1h	794.59	−0.008%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	794.51	−0.018%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	794.76	+0.014%	$859K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.33	−0.040%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0025%	8h	793.33	−0.166%	$4.1M	$4.9M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.314%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0035%	8h	795.05	+0.050%	$6.1M	$19.7M	200x	as long as short
Gate BNB_USDTlong	+0.0036%	8h	794.65	long leg	$35.4M	$55.9M	75x
GRVT BNB_USDT_Perp	+0.0044%	8h	793.45	−0.151%	$3.0M	$28.8M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDT	+0.0050%	8h	794.79	+0.018%	—	$35.0M	—	as long as short
Phemex BNBUSDTshort	+0.0052%	8h	794.89	+0.030%	$69.5M	$50.6M	50x
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.438%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	795.50	+0.107%	$82.5M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	795.39	+0.093%	$494.8M	$811.3M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	793.98	−0.084%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	793.37	−0.161%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	794.71	+0.007%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.44	−0.026%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.75	−0.113%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	795.20	+0.069%	$52.1M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	794.18	−0.059%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	794.60	−0.006%	$138.6M	$75.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	794.50	−0.019%	$53.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	794.30	−0.044%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	794.48	−0.021%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	794.49	−0.020%	$77.4M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.22	−0.181%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.21	−0.181%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.34	−0.039%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.58	−0.009%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.00	−0.082%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	794.70	+0.006%	$391K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	794.16	−0.061%	$8.1M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	794.16	−0.062%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	794.15	−0.063%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	794.58	−0.009%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	794.40	−0.031%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERP	+0.0160%	8h	795.20	+0.069%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0175%	1h	792.60	−0.258%	$642K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	794.90	+0.031%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	794.11	−0.068%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0392%	1h	795.45	+0.101%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	795.00	+0.044%	$1.6M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	794.41	−0.031%	$68K	$38K	12x	as long as short