Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.010%
Price spread now: Phoenix against OKX+0.010%7-day average +0.111% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$370.368% of the position
Funding, last 7 days+0.231%+$23 on $10k
+Price spread, last 3 days (all we have)+0.136%+$14 · spread now +0.010%, 7d avg +0.111%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.101% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.111%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX BNB-USDT-SWAP | 798.90 | 0.0100 | pay 0.0100% / 8h | 7h 15m | $54.2M | $111.0M | 50x |
| Short | Phoenix BNB | 798.98 | 0.0099 | get 0.0012% / 1h | 15m 27s | $172K | $36K | 10x |
OKX BNB-USDT-SWAP
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. 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
- −$0.2
- Price spread: +0.010% → +0.111%
- −$10.09
- Slippage, 4 orders
- −$19.8
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$47.09
- Costs to cover
- 0.368%
- Break-even
- never at this rate
Slippage from OKX: live order book, 4 min ago; Phoenix: live order book, 51 min ago.
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 OKX live order book, 4 min ago | 0.63 bp | 5.6 bp −$6 | 7.4 bp −$74 | 18.8 bp −$1,881 | doesn't fit |
| Sell Phoenix live order book, 51 min ago | 1.00 bp | 12.4 bp −$12 | 43.2 bp −$432 | doesn't fit | doesn't fit |
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 −0.0159% / S +0.0335% | 1h | 798.65 | −0.032% | $47K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0121% | 1h | 798.89 | −0.001% | $2.5M | $1.0M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 799.55 | +0.081% | $4K | $239 | 25x | as long as short |
| Gate BNB_USDT | −0.0002% | 8h | 798.85 | −0.006% | $35.9M | $56.9M | 75x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 798.67 | −0.029% | $3.0M | $27.9M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 799.64 | +0.093% | $864K | $2.9M | 30x | as long as short |
| Variational Omni BNB | +0.0005% | 8h | 798.43 | −0.059% | $4.1M | $5.0M | — | as long as short |
| BingX BNB-USDT | +0.0007% | 8h | 799.20 | +0.038% | — | $35.0M | — | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 798.65 | −0.031% | $9.7M | — | 150x | as long as short |
| Phemex BNBUSDT | +0.0023% | 8h | 799.53 | +0.079% | $69.8M | $50.2M | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Gate BNB_USDT
GRVT BNB_USDT_Perp
StandX BNB-USD
Variational Omni BNB
BingX BNB-USDT
gTrade (Gains Network) BNB/USD
Phemex BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +0.775% | $19K | $789K | 30x | as long as short |
| Bybit BNBUSDT | +0.0037% | 8h | 798.96 | +0.008% | $138.7M | $76.3M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0048% | 1h | 799.07 | +0.021% | $615K | $1.1M | 50x | as long as short |
| Aster BNBUSDT | +0.0052% | 8h | 799.36 | +0.058% | $6.1M | $19.4M | 200x | as long as short |
| MEXC BNB_USDT | +0.0074% | 8h | 800.20 | +0.163% | $83.2M | $13.7M | 200x | as long as short |
| Binance BNBUSDT | +0.0075% | 8h | 799.66 | +0.095% | $496.5M | $811.1M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 799.00 | +0.012% | $2.8M | $4.0M | 20x | as long as short |
| Phoenix BNBshort | +0.0099% | 1h | 798.98 | +0.010% | $172K | $36K | 10x | |
| Nado BNB-PERP | +0.0100% | 1h | 798.50 | −0.050% | $1.5M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 799.21 | +0.038% | $1.2M | $937K | 20x | as long as short |
| OKX BNB-USDT-SWAPlong | +0.0100% | 8h | 798.90 | long leg | $54.2M | $111.0M | 50x | |
| Arcus BNB-USD | +0.0100% | 1h | 799.20 | +0.038% | $53K | $133K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 799.00 | +0.013% | $27.9M | $10.0M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 798.86 | −0.005% | $78.2M | $28.1M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 798.56 | −0.042% | $4.2M | $76.8M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 798.57 | −0.041% | $161K | $435K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 799.11 | +0.026% | $113K | $884K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 798.73 | −0.021% | $386K | $459K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 798.86 | −0.005% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 799.43 | +0.066% | $13K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 798.90 | 0.000% | $393K | $997K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 798.45 | −0.057% | $8.2M | $8.3M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 799.81 | +0.114% | $78K | $18K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 798.78 | −0.015% | $1.8M | $6.0M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 798.82 | −0.010% | $384K | $110K | 10x | as long as short |
| Bulk BNB-USD | +0.0138% | 1h | 797.80 | −0.138% | $648K | $10K | 10x | as long as short |
| RISEx BNB/USDC | +0.0155% | 1h | 799.17 | +0.033% | $1.1M | $1.4M | 20x | as long as short |
| Kalshi KXBNBPERP | +0.0159% | 8h | 799.30 | +0.050% | $90K | $2.8M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0195% | 8h | 798.84 | −0.008% | $18.1M | $2.6M | 75x | as long as short |
| dYdX BNB-USD | +0.0196% | 1h | 798.51 | −0.049% | $161K | $63K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0200% | 1h | 799.33 | +0.054% | $28K | $1K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0288% | 1h | 798.98 | +0.010% | $68K | $38K | 12x | as long as short |
| Hyperliquid BNB | +0.0294% | 1h | 799.99 | +0.136% | $53.2M | $20.3M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 799.24 | +0.043% | $1.6M | $161K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0330% | 1h | 798.81 | −0.011% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0427% | 1h | 799.61 | +0.089% | $2.7M | $5.7M | 40x | as long as short |
Injective BNB/USDC PERP
Bybit BNBUSDT
Coinbase International BNB-PERP-INTX
Aster BNBUSDT
MEXC BNB_USDT
Binance BNBUSDT
Lighter BNB
Nado BNB-PERP
Pacifica BNB
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Bulk BNB-USD
RISEx BNB/USDC
Kalshi KXBNBPERP
BloFin BNB-USDT
dYdX BNB-USD
01 Exchange BNBUSD
Hibachi BNB/USDT-P
Hyperliquid BNB
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP