Settings8H · net · $10k
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Funding arb · Price arb /

BNB

all BNB markets
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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+0.0125%/8h= +13.7% APRpaid last 24h +0.034%
Price spread now: Phoenix against GRVT+0.085%7-day average −0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$340.340% of the position
Long on GRVTShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.205%+$21 on $10k
Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.085%, 7d avg −0.005%
Together, before fees+0.123%+ Points / potential airdropGRVT: Active · farm board+$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.090% dearer against GRVT than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.005%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGRVT BNB_USDT_Perp804.430get 0.0000% / 8h2h 51m$3.0M$30.3M10x
ShortPhoenix BNB805.110.0125get 0.0016% / 1h51m 57s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against GRVT. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$26.28
Price spread: +0.085% → −0.005%
$9
Slippage, 4 orders
−$18.02
Fee GRVT: 4.5 bp × 2 orders
−$9
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$1.25
Costs to cover
0.340%
Break-even
6.7 days
Slippage from GRVT: live order book, 2 min ago; Phoenix: live order book, 31 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 GRVT live order book, 2 min ago0.06 bp4.6 bp −$56.6 bp −$6621.8 bp −$2,183doesn't fit
Sell Phoenix live order book, 31 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%1h802.89−0.191%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h803.42−0.125%$4K$1K25xas long as short
GRVT BNB_USDT_Perplong0.0000%8h804.43long leg$3.0M$30.3M10x
Kalshi KXBNBPERP0.0000%8h803.40−0.128%$110K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h803.92−0.063%$869K$3.0M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h802.84−0.197%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h802.81−0.201%$2.5M$919K50xas long as short
Variational Omni BNB+0.0068%8h803.35−0.134%$4.1M$5.3M—as long as short
Aster BNBUSDT+0.0087%8h803.34−0.135%$6.3M$18.9M200xas long as short
Coinbase International BNB-PERP-INTX+0.0088%1h803.99−0.054%$608K$899K50xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter BNB+0.0096%1h802.79−0.203%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h802.35−0.258%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h802.99−0.179%$1.2M$923K20xas long as short
Bybit BNBUSDT+0.0100%8h802.20−0.277%$138.9M$83.5M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h802.50−0.240%$54.9M$115.4M50xas long as short
Arcus BNB-USD+0.0100%1h802.90−0.190%$52K$191K10xas long as short
Gate BNB_USDT+0.0100%8h802.35−0.258%$35.9M$58.2M75xas long as short
KuCoin BNBUSDTM+0.0100%8h802.61−0.226%$28.1M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h802.04−0.297%$78.9M$24.6M75xas long as short
edgeX BNBUSDC+0.0100%4h804.47+0.005%$4.2M$76.8M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h803.95−0.059%$159K$437K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h802.66−0.220%$118K$869K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h802.74−0.210%$388K$595K50xas long as short
Derive BNB-PERP+0.0100%1h802.95−0.184%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h803.38−0.131%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h803.30−0.140%$1.6M$162K25xas long as short
HTX BNB-USDT+0.0100%8h802.92−0.188%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h803.36−0.133%$78K$19K50xas long as short
MEXC BNB_USDT+0.0102%8h803.60−0.103%$84.3M$13.5M200xas long as short
BingX BNB-USDC+0.0102%8h803.25−0.146%—$13.3M—as long as short
Binance BNBUSDT+0.0102%8h803.17−0.156%$518.1M$807.5M75xas long as short
Extended BNB-USD+0.0104%1h802.07−0.293%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h802.68−0.218%$386K$40K10xas long as short
SoDEX BNB-USD+0.0106%1h802.80−0.202%$395K$1.0M10xas long as short
Phemex BNBUSDT+0.0123%8h803.35−0.134%$70.1M$51.7M50xas long as short
Phoenix BNBshort+0.0125%1h805.11+0.085%$173K$35K10x
Bulk BNB-USD+0.0140%1h805.09+0.082%$650K$11K10xas long as short
Hyperliquid BNB+0.0178%1h803.26−0.145%$51.6M$21.3M10xas long as short
dYdX BNB-USD+0.0192%1h803.01−0.176%$170K$55K10xas long as short
RISEx BNB/USDC+0.0209%1h802.99−0.179%$1.1M$1.4M20xas long as short
BloFin BNB-USDT+0.0222%8h803.74−0.085%$18.8M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0248%1h803.57−0.106%$71K$48K12xas long as short
Reya BNBRUSDPERP+0.0335%1h802.48−0.242%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0344%1h803.51−0.114%$28K$1K10xas long as short
Injective BNB/USDC PERP+0.0353%1h804.92+0.061%$19K$526K30xas long as short
Backpack BNB_USDC_PERP+0.0666%1h803.66−0.095%$3.0M$5.3M40xas long as short