BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0179%/8h= −19.6% APRnext payment −$0.22 per $10,000 · paid last 24h +0.018%

Price spread now: Phoenix against Injective−0.561%7-day average +0.421% · you buy dearer than you sell

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

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.431%+$43 on $10k

Price spread, last 3 days (all we have)+1.143%+$114 · spread now −0.561%, 7d avg +0.421%

Together, before fees+1.574%+$157 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phoenix is 0.982% cheaper against Injective than usual: you would sell low and buy high (−$98 if the spread goes back to its 7-day average of +0.421%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.431%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0306	pay 0.0038% / 1h	30m 01s	$19K	$789K	30x
Short	Phoenix BNB	800.57	0.0127	get 0.0016% / 1h	30m 01s	$172K	$36K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.561%Rate

Funding earned: −$37.67
Price spread: −0.561% → +0.421%: −$98.23
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$142.92
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 41 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 Phoenix live order book, 41 min ago	1.00 bp	12.4 bp −$12	43.2 bp −$432	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	799.77	−0.661%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.30	−0.719%	$2.5M	$972K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.38	−0.585%	$3.0M	$28.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.78	−0.535%	$865K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.57	−0.686%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0017%	8h	799.36	−0.712%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0041%	8h	799.73	−0.666%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0048%	8h	799.00	−0.756%	$138.6M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	−0.646%	$606K	$992K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0094%	8h	799.93	−0.641%	$6.3M	$18.9M	200x	as long as short
Lighter BNB	+0.0096%	1h	799.66	−0.675%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	799.08	−0.747%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.58	−0.685%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	799.00	−0.756%	$54.4M	$112.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.70	−0.669%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.20	−0.732%	$35.8M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.37	−0.710%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.94	−0.764%	$79.3M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.41	−0.581%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.53	−0.566%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.24	−0.727%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.49	−0.696%	$386K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.76	−0.662%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.88	−0.648%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.70	−0.669%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.50	−0.694%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.96	−0.637%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.97	−0.760%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.73	−0.666%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0112%	8h	800.01	−0.631%	$69.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0115%	8h	800.40	−0.583%	$83.1M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	799.90	−0.645%	$499.5M	$816.0M	75x	as long as short
Kalshi KXBNBPERP	+0.0120%	8h	800.40	−0.583%	$110K	$2.9M	4.8x	as long as short
Phoenix BNBshort	+0.0127%	1h	800.57	−0.561%	$172K	$36K	10x
Hyperliquid BNB	+0.0183%	1h	800.02	−0.630%	$51.8M	$21.1M	10x	as long as short
Hibachi BNB/USDT-P	+0.0184%	1h	800.03	−0.628%	$70K	$44K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	799.98	−0.635%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0236%	8h	800.28	−0.597%	$18.2M	$2.5M	75x	as long as short
Bulk BNB-USD	+0.0239%	1h	800.03	−0.628%	$650K	$19K	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.57	−0.685%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	800.08	−0.622%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERPlong	+0.0306%	1h	805.09	long leg	$19K	$789K	30x
Reya BNBRUSDPERP	+0.0331%	1h	798.96	−0.761%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0391%	1h	799.32	−0.717%	$161K	$62K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0408%	1h	800.25	−0.601%	$2.7M	$5.7M	40x	as long as short