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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 22:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.010%
Price spread now: Phoenix against HTX+0.035%72s7-day average +0.095% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$450.452% of the position
Long on HTXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.185%+$19 on $10k
Price spread, last 3 days (all we have)+0.177%+$18 · spread now +0.035%, 7d avg +0.095%
Together, before fees+0.362%+$36 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.060% cheaper against HTX than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.095%). If the spread goes back, that is −$6 on $10k: about 3.7 days of funding at the current rate (+$2 a day). The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHTX BNB-USDT806.920.0100pay 0.0100% / 8h1h 39m$8.2M$7.6M75x
ShortPhoenix BNB807.200.0155get 0.0019% / 1h39m 59s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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

Funding earned
$11.57
Price spread: +0.035% → +0.095%
−$6.05
Slippage, 4 orders
−$26.17
Fee HTX: 6 bp × 2 orders
−$12
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$39.65
Costs to cover
0.452%
Break-even
31.0 days
Slippage from HTX: live order book, 4 min ago; Phoenix: live order book, 36 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 HTX live order book, 4 min ago2.10 bp10.8 bp −$1112.4 bp −$12449.0 bp −$4,902doesn't fit
Sell Phoenix live order book, 36 min ago0.99 bp12.4 bp −$1243.1 bp −$431doesn'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 −0.0201% / S +0.0372%1h806.94+0.002%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h807.39+0.058%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h806.21−0.088%$3.0M$29.2M10xas long as short
Kalshi KXBNBPERP0.0000%8h807.40+0.059%$108K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h806.73−0.024%$872K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h806.95+0.004%$9.8M—150xas long as short
Variational Omni BNB+0.0044%8h806.56−0.045%$4.1M$5.3M—as long as short
BingX BNB-USDT+0.0059%8h807.08+0.020%—$34.5M—as long as short
Bybit BNBUSDT+0.0083%8h806.20−0.089%$139.6M$81.1M75xas long as short
Hibachi BNB/USDT-P+0.0088%1h806.88−0.005%$72K$48K12xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter BNB+0.0096%1h807.27+0.043%$2.8M$4.2M20xas long as short
Coinbase International BNB-PERP-INTX+0.0096%1h805.54−0.171%$608K$881K50xas long as short
Nado BNB-PERP+0.0100%1h806.60−0.040%$1.5M$2.7M20xas long as short
Pacifica BNB+0.0100%1h807.15+0.028%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h806.50−0.052%$55.1M$116.1M50xas long as short
Arcus BNB-USD+0.0100%1h807.30+0.047%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h806.75−0.021%$36.1M$57.6M75xas long as short
KuCoin BNBUSDTM+0.0100%8h806.72−0.025%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h806.44−0.059%$78.8M$25.0M75xas long as short
edgeX BNBUSDC+0.0100%4h806.39−0.066%$4.2M$76.5M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h806.49−0.053%$162K$440K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h806.85−0.009%$116K$870K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h806.94+0.002%$390K$592K50xas long as short
Derive BNB-PERP+0.0100%1h807.23+0.038%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h807.57+0.080%$13K$1.7M50xas long as short
HTX BNB-USDTlong+0.0100%8h806.92long leg$8.2M$7.6M75x
Paradex BNB-USD-PERP+0.0100%8h807.51+0.073%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h806.17−0.093%$1.9M$6.0M50xas long as short
Aevo BNB-PERP+0.0104%1h807.04+0.015%$388K$40K10xas long as short
Aster BNBUSDT+0.0107%8h807.70+0.096%$6.4M$18.8M200xas long as short
MEXC BNB_USDT+0.0121%8h807.70+0.097%$84.8M$13.4M200xas long as short
Binance BNBUSDT+0.0122%8h807.26+0.042%$521.2M$803.4M75xas long as short
Phemex BNBUSDT+0.0132%8h807.53+0.076%$70.5M$51.7M50xas long as short
Phoenix BNBshort+0.0155%1h807.20+0.035%$173K$35K10x
SoDEX BNB-USD+0.0188%1h807.00+0.010%$397K$1.0M10xas long as short
dYdX BNB-USD+0.0203%1h806.57−0.043%$163K$63K10xas long as short
Kraken Futures PF_BNBUSD+0.0205%1h806.94+0.003%$2.5M$929K50xas long as short
Hyperliquid BNB+0.0213%1h807.80+0.109%$52.0M$22.1M10xas long as short
BloFin BNB-USDT+0.0241%8h807.24+0.040%$18.8M$2.6M75xas long as short
Bulk BNB-USD+0.0295%1h807.66+0.092%$652K$14K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0300%1h807.45+0.066%$1.6M$165K25xas long as short
Injective BNB/USDC PERP+0.0311%1h805.09−0.227%$19K$789K30xas long as short
RISEx BNB/USDC+0.0318%1h807.14+0.028%$1.1M$1.4M20xas long as short
Reya BNBRUSDPERP+0.0333%1h806.47−0.056%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0360%1h807.79+0.108%$29K$1K10xas long as short
Backpack BNB_USDC_PERP+0.0704%1h807.97+0.130%$3.0M$5.5M40xas long as short