BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0111%/8h= −12.1% APRnext payment −$0.14 per $10,000 · paid last 24h +0.028%

Price spread now: Deribit against Injective−0.624%63s7-day average +0.395% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.395%+$39 on $10k

Price spread, last 3 days (all we have)+1.135%+$114 · spread now −0.624%, 7d avg +0.395%

Together, before fees+1.530%+$153 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 1.019% cheaper against Injective than usual: you would sell low and buy high (−$102 if the spread goes back to its 7-day average of +0.395%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.395%, so the current rate has only just turned against you. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0311	pay 0.0039% / 1h	12m 09s	$19K	$789K	30x
Short	Deribit BNB_USDC-PERPETUAL	800.07	0.0200	get 0.0025% / 1h	12m 09s	$1.6M	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Injective. 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 InjectivebpFee DeribitbpOrdersPrice spread, now −0.624%Rate

Funding earned: −$23.25
Price spread: −0.624% → +0.395%: −$101.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$132.16
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Deribit: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell Deribit live order book, 2 min ago	1.87 bp	9.1 bp −$9	13.7 bp −$137	doesn't fit	doesn't fit

Injective: 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 −0.0201% / S +0.0372%	1h	799.59	−0.683%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.96	−0.637%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.94	−0.515%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	800.30	−0.595%	$147K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	800.45	−0.576%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.62	−0.680%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0035%	8h	799.95	−0.638%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0059%	8h	799.65	−0.676%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0067%	8h	799.10	−0.744%	$139.1M	$79.3M	75x	as long as short
Aster BNBUSDT	+0.0095%	8h	800.23	−0.604%	$6.3M	$19.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	799.83	−0.653%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	−0.487%	$610K	$995K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.31	−0.718%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.81	−0.655%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.20	−0.732%	$54.6M	$115.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.90	−0.645%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.35	−0.713%	$35.7M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.46	−0.699%	$28.0M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.37	−0.710%	$80.8M	$26.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.22	−0.480%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.94	−0.515%	$161K	$443K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.58	−0.684%	$121K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.54	−0.689%	$386K	$527K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.75	−0.663%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	800.28	−0.597%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.80	−0.657%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.87	−0.648%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	800.15	−0.614%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.20	−0.732%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.65	−0.676%	$384K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0116%	8h	800.60	−0.558%	$83.2M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0117%	8h	800.21	−0.606%	$502.6M	$816.7M	75x	as long as short
Phemex BNBUSDT	+0.0118%	8h	800.16	−0.612%	$69.9M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	801.63	−0.430%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0200%	1h	799.79	−0.658%	$71K	$49K	12x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0200%	1h	800.07	−0.624%	$1.6M	$165K	25x
Kraken Futures PF_BNBUSD	+0.0207%	1h	799.56	−0.687%	$2.6M	$970K	50x	as long as short
BloFin BNB-USDT	+0.0237%	8h	800.61	−0.556%	$18.3M	$2.5M	75x	as long as short
Injective BNB/USDC PERPlong	+0.0311%	1h	805.09	long leg	$19K	$789K	30x
Bulk BNB-USD	+0.0314%	1h	802.70	−0.297%	$652K	$21K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	799.85	−0.651%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0320%	1h	800.55	−0.564%	$51.8M	$21.9M	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	800.27	−0.599%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0324%	1h	799.94	−0.640%	$161K	$62K	10x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	799.29	−0.721%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0584%	1h	800.49	−0.571%	$2.7M	$5.7M	40x	as long as short