Funding you earn now, next payment 02:00 UTC−0.0477%/8h= −52.2% APRnext payment −$0.60 per $10,000 · paid last 24h −0.065%
Price spread now: Phoenix against Hibachi−0.022%61s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.269%−$27 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phoenix is 0.022% cheaper against Hibachi than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.269% in total (about -14.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.60 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hibachi BNB/USDT-P | 788.80 | 0.0584 | pay 0.0073% / 1h | 36m 07s | $67K | $38K | 12x |
| Short | Phoenix BNB | 788.63 | 0.0107 | get 0.0013% / 1h | 36m 07s | $169K | $35K | 10x |
Hibachi BNB/USDT-P
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hibachi. 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
- −$100.09
- Price spread: −0.022% → 0.000%
- −$2.21
- Slippage, 4 orders
- no order book: not counted
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$118.3
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Hibachi: no order-book sample; Phoenix: live order book, 20 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 Hibachi no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 20 min ago | 1.01 bp | 12.4 bp −$12 | 43.2 bp −$432 | doesn't fit | doesn't fit |
Hibachi: 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] | L −0.0167% / S +0.0335% | 1h | 788.87 | +0.008% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 788.96 | +0.020% | $4K | $239 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.27 | +0.059% | $853K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 788.92 | +0.015% | $9.6M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.065% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0043% | 8h | 789.77 | +0.123% | $6.3M | $18.7M | 200x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0048% | 1h | 789.09 | +0.036% | $618K | $1.8M | 50x | as long as short |
| BingX BNB-USDT | +0.0058% | 8h | 789.39 | +0.074% | — | $34.4M | — | as long as short |
| Phemex BNBUSDT | +0.0069% | 8h | 789.43 | +0.079% | $69.1M | $51.0M | 50x | as long as short |
| MEXC BNB_USDT | +0.0074% | 8h | 790.10 | +0.164% | $80.3M | $12.4M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
Coinbase International BNB-PERP-INTX
BingX BNB-USDT
Phemex BNBUSDT
MEXC BNB_USDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BNBUSDT | +0.0075% | 8h | 789.79 | +0.125% | $493.8M | $804.9M | 75x | as long as short |
| Variational Omni BNB | +0.0091% | 8h | 788.80 | −0.001% | $4.1M | $4.6M | — | as long as short |
| Kraken Futures PF_BNBUSD | +0.0091% | 1h | 788.97 | +0.021% | $2.5M | $1.2M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 789.45 | +0.082% | $2.8M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 789.08 | +0.035% | $265K | $497K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 788.75 | −0.007% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 789.76 | +0.121% | $51.8M | $18.1M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 789.26 | +0.058% | $1.2M | $908K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 789.10 | +0.037% | $138.8M | $77.4M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 789.10 | +0.037% | $53.5M | $112.2M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 789.20 | +0.050% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 789.10 | +0.037% | $35.3M | $56.9M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 788.94 | +0.017% | $27.7M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 789.04 | +0.030% | $76.9M | $30.0M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 789.56 | +0.096% | $2.2M | $6.1M | 40x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 788.57 | −0.029% | $4.1M | $76.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 789.03 | +0.029% | $159K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 788.88 | +0.010% | $135K | $948K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 789.31 | +0.064% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 789.65 | +0.107% | $12K | $1.6M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 788.67 | −0.017% | $8.1M | $9.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0103% | 8h | 789.66 | +0.108% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 788.79 | −0.002% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 789.12 | +0.040% | $379K | $110K | 10x | as long as short |
| Phoenix BNBshort | +0.0107% | 1h | 788.63 | −0.022% | $169K | $35K | 10x | |
| GRVT BNB_USDT_Perp | +0.0136% | 8h | 789.15 | +0.044% | $2.9M | $28.2M | 10x | as long as short |
| SoDEX BNB-USD | +0.0136% | 1h | 789.20 | +0.050% | $388K | $1.0M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0189% | 8h | 789.60 | +0.101% | $94K | $2.8M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0195% | 8h | 789.53 | +0.092% | $18.2M | $2.3M | 75x | as long as short |
| dYdX BNB-USD | +0.0236% | 1h | 788.84 | +0.005% | $160K | $63K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0296% | 1h | 789.53 | +0.092% | $28K | $4K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 789.52 | +0.090% | $1.5M | $147K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0328% | 1h | 788.60 | −0.027% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0361% | 1h | 789.34 | +0.068% | $1.1M | $1.0M | 20x | as long as short |
| Bulk BNB-USD | +0.0373% | 1h | 788.05 | −0.095% | $638K | $13K | 10x | as long as short |
| Hibachi BNB/USDT-Plong | +0.0584% | 1h | 788.80 | long leg | $67K | $38K | 12x |
Binance BNBUSDT
Variational Omni BNB
Kraken Futures PF_BNBUSD
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
GRVT BNB_USDT_Perp
SoDEX BNB-USD
Kalshi KXBNBPERP
BloFin BNB-USDT
dYdX BNB-USD
01 Exchange BNBUSD
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
RISEx BNB/USDC
Bulk BNB-USD