BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.30 per $10,000 · paid last 24h −0.005%

Price spread now: Bybit against Phemex−0.113%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.137%+$14 · spread now −0.113%, 7d avg −0.098%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.098%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	803.41	0.0119	pay 0.0119% / 8h	2h 44m	$70.1M	$51.6M	50x
Short	Bybit BNBUSDT	802.50	0.0089	get 0.0089% / 8h	2h 44m	$138.8M	$82.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$6.38
Price spread: −0.113% → −0.098%: −$1.53
Slippage, 4 orders: −$3.81
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.72
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago	0.93 bp	7.2 bp −$7	7.4 bp −$74	13.7 bp −$1,366	doesn't fit
Sell Bybit live order book, 5 min ago	0.62 bp	6.1 bp −$6	7.5 bp −$75	24.6 bp −$2,465	144.8 bp −$72.4K

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 −0.0195% / S +0.0371%	1h	802.78	−0.078%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.00	−0.051%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.06	−0.044%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.20	−0.026%	$122K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.70	+0.036%	$869K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.91	−0.062%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.76	−0.080%	$2.5M	$910K	50x	as long as short
Variational Omni BNB	+0.0059%	8h	802.25	−0.144%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0068%	8h	802.88	−0.066%	—	$13.3M	—	as long as short
Aster BNBUSDT	+0.0086%	8h	803.52	+0.014%	$6.4M	$18.8M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.072%	$608K	$888K	50x	as long as short
Bybit BNBUSDTshort	+0.0089%	8h	802.50	−0.113%	$138.8M	$82.6M	75x
Lighter BNB	+0.0096%	1h	803.00	−0.051%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.49	−0.115%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.91	−0.062%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.00	−0.051%	$54.9M	$115.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	−0.051%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.70	−0.088%	$36.0M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.61	−0.100%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.58	−0.103%	$79.0M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.30	−0.013%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.77	−0.080%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.84	−0.071%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.91	−0.062%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.02	−0.048%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.58	+0.021%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.34	−0.008%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.00	−0.051%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.51	+0.013%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	803.70	+0.036%	$84.4M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0103%	8h	803.66	+0.031%	$518.4M	$803.6M	75x	as long as short
SoDEX BNB-USD	+0.0104%	1h	802.90	−0.063%	$395K	$1.0M	10x	as long as short
Extended BNB-USD	+0.0104%	1h	802.51	−0.112%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.98	−0.054%	$386K	$40K	10x	as long as short
Phemex BNBUSDTlong	+0.0119%	8h	803.41	long leg	$70.1M	$51.6M	50x
Phoenix BNB	+0.0125%	1h	802.98	−0.054%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0156%	1h	803.38	−0.004%	$51.6M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0161%	1h	803.45	+0.005%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	803.11	−0.038%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0221%	1h	803.00	−0.051%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0222%	8h	803.39	−0.002%	$18.8M	$3.0M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.80	−0.076%	$71K	$48K	12x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	803.59	+0.022%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0335%	1h	802.69	−0.090%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.188%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0699%	1h	803.89	+0.060%	$3.0M	$5.3M	40x	as long as short