Funding you earn now, next payment 22:00 UTC+0.0350%/8h= +38.3% APRnext payment +$0.44 per $10,000 · paid last 24h +0.081%
Price spread now: Phoenix against GMX+0.070%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 +$10 a day on $10k at the current rate, and Phoenix is 0.070% dearer against GMX than usual: you sell high and buy low: +$7 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 | GMX BNB/USD [WBTC.b-USDC] | 805.65 | L −0.0195% / S +0.0371% | get 0.0024% / 1h | 43m 03s | $49K | — | 200x |
| Short | Phoenix BNB | 806.22 | 0.0155 | get 0.0019% / 1h | 43m 03s | $173K | $35K | 10x |
GMX BNB/USD [WBTC.b-USDC]
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GMX. 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
- $73.45
- Price spread: +0.070% → 0.000%
- $7.02
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $61.47
- Costs to cover
- 0.190%
- Break-even
- 1.1 days
Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 33 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 GMX no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 33 min ago | 0.99 bp | 12.4 bp −$12 | 43.1 bp −$431 | doesn't fit | doesn't fit |
GMX: 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]long | L −0.0195% / S +0.0371% | 1h | 805.65 | long leg | $49K | — | 200x | |
| Hotstuff BNB-PERP | −0.0080% | 1h | 806.36 | +0.088% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 806.21 | +0.069% | $3.0M | $29.2M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 806.30 | +0.080% | $108K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 805.76 | +0.013% | $871K | $2.8M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 805.73 | +0.009% | $9.8M | — | 150x | as long as short |
| Variational Omni BNB | +0.0048% | 8h | 804.97 | −0.085% | $4.1M | $5.3M | — | as long as short |
| BingX BNB-USDC | +0.0059% | 8h | 805.99 | +0.042% | — | $13.3M | — | as long as short |
| Hibachi BNB/USDT-P | +0.0080% | 1h | 805.82 | +0.020% | $71K | $48K | 12x | as long as short |
| Bybit BNBUSDT | +0.0083% | 8h | 805.80 | +0.018% | $139.6M | $81.1M | 75x | as long as short |
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDC
Hibachi BNB/USDT-P
Bybit BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BNB | +0.0096% | 1h | 806.06 | +0.050% | $2.8M | $4.2M | 20x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0096% | 1h | 805.54 | −0.014% | $608K | $881K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 805.67 | +0.002% | $1.5M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 806.17 | +0.063% | $1.2M | $924K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 806.20 | +0.068% | $55.1M | $116.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 806.20 | +0.068% | $53K | $170K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 805.80 | +0.018% | $36.1M | $57.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 805.80 | +0.018% | $28.2M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 806.03 | +0.047% | $78.8M | $25.0M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 806.31 | +0.081% | $4.2M | $76.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 806.49 | +0.104% | $162K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 805.87 | +0.027% | $116K | $870K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 805.67 | +0.002% | $389K | $592K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 805.82 | +0.021% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 806.36 | +0.087% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 805.84 | +0.023% | $8.2M | $7.6M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 806.52 | +0.107% | $79K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 806.03 | +0.046% | $1.9M | $6.0M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 805.85 | +0.025% | $387K | $40K | 10x | as long as short |
| Aster BNBUSDT | +0.0105% | 8h | 806.57 | +0.113% | $6.4M | $18.8M | 200x | as long as short |
| MEXC BNB_USDT | +0.0120% | 8h | 806.70 | +0.130% | $84.7M | $13.4M | 200x | as long as short |
| Binance BNBUSDT | +0.0121% | 8h | 806.73 | +0.134% | $521.1M | $803.5M | 75x | as long as short |
| Phemex BNBUSDT | +0.0131% | 8h | 806.42 | +0.095% | $70.4M | $51.8M | 50x | as long as short |
| Phoenix BNBshort | +0.0155% | 1h | 806.22 | +0.070% | $173K | $35K | 10x | |
| SoDEX BNB-USD | +0.0177% | 1h | 805.80 | +0.018% | $396K | $1.0M | 10x | as long as short |
| Hyperliquid BNB | +0.0189% | 1h | 806.85 | +0.148% | $51.9M | $22.1M | 10x | as long as short |
| dYdX BNB-USD | +0.0203% | 1h | 805.84 | +0.023% | $162K | $63K | 10x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0205% | 1h | 805.74 | +0.011% | $2.5M | $929K | 50x | as long as short |
| BloFin BNB-USDT | +0.0241% | 8h | 806.53 | +0.109% | $18.8M | $3.1M | 75x | as long as short |
| Bulk BNB-USD | +0.0274% | 1h | 805.55 | −0.013% | $651K | $14K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 806.12 | +0.058% | $1.6M | $165K | 25x | as long as short |
| Injective BNB/USDC PERP | +0.0311% | 1h | 805.09 | −0.070% | $19K | $789K | 30x | as long as short |
| RISEx BNB/USDC | +0.0318% | 1h | 806.17 | +0.065% | $1.1M | $1.4M | 20x | as long as short |
| Reya BNBRUSDPERP | +0.0333% | 1h | 805.52 | −0.017% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0352% | 1h | 806.80 | +0.142% | $29K | $1K | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0715% | 1h | 806.97 | +0.163% | $3.0M | $5.5M | 40x | as long as short |
Lighter BNB
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
MEXC BNB_USDT
Binance BNBUSDT
Phemex BNBUSDT
SoDEX BNB-USD
Hyperliquid BNB
dYdX BNB-USD
Kraken Futures PF_BNBUSD
BloFin BNB-USDT
Bulk BNB-USD
Deribit BNB_USDC-PERPETUAL
Injective BNB/USDC PERP
RISEx BNB/USDC
Reya BNBRUSDPERP
01 Exchange BNBUSD
Backpack BNB_USDC_PERP