Funding you earn now, next payment 00:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.10 per $10,000 · paid last 24h +0.008%
Price spread now: Binance against Phemex−0.015%7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$240.235% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 3 days (all we have)+0.108%+$11 · spread now −0.015%, 7d avg +0.013%
=Funding pays, the price is against you. Binance is 0.028% cheaper against Phemex than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 8.9 days of funding at the current rate ($0 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BNBUSDT | 803.20 | 0.0112 | pay 0.0112% / 8h | 55m 34s | $70.2M | $51.1M | 50x |
| Short | Binance BNBUSDT | 803.08 | 0.0123 | get 0.0123% / 8h | 55m 34s | $502.4M | $818.7M | 75x |
Phemex BNBUSDT
Binance BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $2.16
- Price spread: −0.015% → +0.013%
- −$2.76
- Slippage, 4 orders
- −$1.54
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$24.14
- Costs to cover
- 0.235%
- Break-even
- 85.1 days
Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 3 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 Phemex live order book, 4 min ago | 0.25 bp | 6.8 bp −$7 | 7.1 bp −$71 | 12.8 bp −$1,283 | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 15.8 bp −$1,580 | 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 −0.0201% / S +0.0372% | 1h | 802.44 | −0.095% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 802.80 | −0.050% | $4K | $1K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0074% | 1h | 802.51 | −0.086% | $2.6M | $969K | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 802.50 | −0.088% | $3.0M | $28.2M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 803.15 | −0.006% | $868K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 802.48 | −0.089% | $9.8M | — | 150x | as long as short |
| Variational Omni BNB | +0.0031% | 8h | 800.04 | −0.393% | $4.2M | $5.4M | — | as long as short |
| BingX BNB-USDT | +0.0053% | 8h | 802.43 | −0.096% | — | $34.8M | — | as long as short |
| Bybit BNBUSDT | +0.0066% | 8h | 802.10 | −0.137% | $139.4M | $78.6M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0072% | 1h | 800.72 | −0.309% | $607K | $998K | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDT
Bybit BNBUSDT
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BNB | +0.0096% | 1h | 802.58 | −0.077% | $2.8M | $4.1M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 802.10 | −0.137% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 802.62 | −0.073% | $1.2M | $926K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 802.20 | −0.125% | $54.8M | $113.6M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 802.80 | −0.050% | $53K | $133K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 802.10 | −0.137% | $35.8M | $57.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 802.22 | −0.122% | $28.0M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 802.05 | −0.143% | $79.6M | $27.4M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 802.60 | −0.075% | $4.2M | $77.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 802.61 | −0.073% | $162K | $442K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 802.39 | −0.101% | $119K | $874K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 802.62 | −0.072% | $388K | $489K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 802.76 | −0.055% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 802.97 | −0.029% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 802.22 | −0.123% | $8.2M | $7.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 802.98 | −0.028% | $78K | $19K | 50x | as long as short |
| Aster BNBUSDT | +0.0103% | 8h | 802.90 | −0.037% | $6.4M | $19.0M | 200x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 801.86 | −0.166% | $1.9M | $6.4M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 802.77 | −0.053% | $386K | $40K | 10x | as long as short |
| Phemex BNBUSDTlong | +0.0112% | 8h | 803.20 | long leg | $70.2M | $51.1M | 50x | |
| Kalshi KXBNBPERP | +0.0117% | 8h | 802.50 | −0.087% | $109K | $2.9M | 4.8x | as long as short |
| MEXC BNB_USDT | +0.0122% | 8h | 803.40 | +0.025% | $83.6M | $13.5M | 200x | as long as short |
| Binance BNBUSDTshort | +0.0123% | 8h | 803.08 | −0.015% | $502.4M | $818.7M | 75x | |
| Phoenix BNB | +0.0155% | 1h | 802.36 | −0.105% | $172K | $36K | 10x | as long as short |
| SoDEX BNB-USD | +0.0237% | 1h | 802.70 | −0.062% | $395K | $1.0M | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0241% | 1h | 803.10 | −0.012% | $2.7M | $5.7M | 40x | as long as short |
| BloFin BNB-USDT | +0.0242% | 8h | 802.83 | −0.046% | $18.2M | $2.5M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0248% | 1h | 802.25 | −0.118% | $71K | $48K | 12x | as long as short |
| RISEx BNB/USDC | +0.0258% | 1h | 802.58 | −0.077% | $1.1M | $1.4M | 20x | as long as short |
| Bulk BNB-USD | +0.0289% | 1h | 801.15 | −0.255% | $651K | $20K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 803.05 | −0.019% | $1.6M | $165K | 25x | as long as short |
| Injective BNB/USDC PERP | +0.0306% | 1h | 805.09 | +0.235% | $19K | $789K | 30x | as long as short |
| Hyperliquid BNB | +0.0331% | 1h | 803.27 | +0.009% | $52.0M | $21.7M | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0332% | 1h | 802.03 | −0.146% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0432% | 1h | 803.41 | +0.026% | $28K | $1K | 10x | as long as short |
| dYdX BNB-USD | +0.0504% | 1h | 802.23 | −0.121% | $162K | $62K | 10x | as long as short |
Lighter BNB
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Aster BNBUSDT
Extended BNB-USD
Aevo BNB-PERP
Kalshi KXBNBPERP
MEXC BNB_USDT
Phoenix BNB
SoDEX BNB-USD
Backpack BNB_USDC_PERP
BloFin BNB-USDT
Hibachi BNB/USDT-P
RISEx BNB/USDC
Bulk BNB-USD
Deribit BNB_USDC-PERPETUAL
Injective BNB/USDC PERP
Hyperliquid BNB
Reya BNBRUSDPERP
01 Exchange BNBUSD
dYdX BNB-USD