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Funding arb · Price arb /

BNB

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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+0.0025%/8h= +2.8% APRpaid last 24h +0.010%
Price spread now: Phoenix against KuCoin+0.072%7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$470.474% of the position
Long on KuCoinShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.215%+$22 on $10k
Price spread, last 3 days (all we have)+0.149%+$15 · spread now +0.072%, 7d avg +0.098%
Together, before fees+0.364%+$36 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.026% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.072% now, against its 7-day average of +0.098%). If the spread goes back, that is −$3 on $10k: about 3.4 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.215% in total) that is about 20 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin BNBUSDTM805.200.0100pay 0.0100% / 8h2h 25m$28.2M$10.5M75x
ShortPhoenix BNB805.780.0125get 0.0016% / 1h25m 15s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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
$5.28
Price spread: +0.072% → +0.098%
−$2.59
Slippage, 4 orders
−$28.44
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$44.75
Costs to cover
0.474%
Break-even
66.4 days
Slippage from KuCoin: live order book, 4 min ago; Phoenix: live order book, 57 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 KuCoin live order book, 4 min ago0.44 bp10.8 bp −$1117.6 bp −$176doesn't fitdoesn't fit
Sell Phoenix live order book, 57 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%1h805.34+0.018%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h805.10−0.012%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h805.40+0.025%$3.0M$29.4M10xas long as short
Kalshi KXBNBPERP0.0000%8h806.00+0.099%$112K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h805.57+0.046%$871K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h805.37+0.021%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h805.52+0.040%$2.5M$908K50xas long as short
Variational Omni BNB+0.0048%8h805.22+0.003%$4.0M$5.4M—as long as short
BingX BNB-USDT+0.0052%8h805.44+0.030%—$34.5M—as long as short
Bybit BNBUSDT+0.0075%8h805.10−0.012%$139.6M$82.5M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.80−0.050%$609K$879K50xas long as short
Aster BNBUSDT+0.0094%8h806.17+0.121%$6.4M$18.8M200xas long as short
Lighter BNB+0.0096%1h805.63+0.054%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h805.25+0.006%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h805.78+0.072%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h805.30+0.012%$55.2M$115.8M50xas long as short
Arcus BNB-USD+0.0100%1h806.00+0.099%$53K$168K10xas long as short
Gate BNB_USDT+0.0100%8h805.200.000%$36.0M$58.5M75xas long as short
KuCoin BNBUSDTMlong+0.0100%8h805.20long leg$28.2M$10.5M75x
Bitget BNBUSDT+0.0100%8h805.24+0.005%$79.2M$24.5M75xas long as short
edgeX BNBUSDC+0.0100%4h805.49+0.035%$4.2M$76.8M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h805.60+0.050%$159K$438K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h805.27+0.009%$119K$868K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h805.44+0.030%$389K$593K50xas long as short
Derive BNB-PERP+0.0100%1h805.58+0.047%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h806.08+0.110%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h805.91+0.088%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h805.41+0.026%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h806.26+0.132%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h805.08−0.015%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h805.58+0.047%$387K$40K10xas long as short
MEXC BNB_USDT+0.0108%8h806.30+0.137%$84.6M$13.6M200xas long as short
Binance BNBUSDT+0.0110%8h806.08+0.109%$520.5M$803.8M75xas long as short
Phoenix BNBshort+0.0125%1h805.78+0.072%$173K$35K10x
Phemex BNBUSDT+0.0127%8h806.04+0.104%$70.3M$51.8M50xas long as short
Hyperliquid BNB+0.0171%1h806.08+0.109%$51.8M$21.3M10xas long as short
Bulk BNB-USD+0.0197%1h804.34−0.107%$650K$11K10xas long as short
SoDEX BNB-USD+0.0199%1h805.40+0.025%$396K$1.0M10xas long as short
RISEx BNB/USDC+0.0209%1h805.78+0.073%$1.1M$1.5M20xas long as short
BloFin BNB-USDT+0.0230%8h806.35+0.143%$18.8M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0240%1h805.69+0.061%$71K$48K12xas long as short
dYdX BNB-USD+0.0264%1h805.64+0.054%$170K$55K10xas long as short
Reya BNBRUSDPERP+0.0334%1h805.11−0.011%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0336%1h806.38+0.147%$29K$1K10xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89−0.038%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0652%1h806.84+0.204%$3.0M$5.5M40xas long as short