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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 08:00 UTC+0.0002%/8h= +0.2% APRnext payment +$0.02 per $10,000 · paid last 24h −0.026%
Price spread now: GRVT against Phemex−0.279%77s7-day average +0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$240.241% of the position
Long on PhemexShort on GRVT
What this pair did over the last
the charts below follow
Funding, last 7 days+0.080%+$8 on $10k
Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.279%, 7d avg +0.014%
Together, before fees+0.352%+ Points / potential airdropGRVT: Active · farm board+$35 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.292% cheaper against Phemex than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +0.014%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BNBUSDT795.670.0042pay 0.0042% / 8h6h 27m$69.6M$50.8M50x
ShortGRVT BNB_USDT_Perp793.450.0044get 0.0044% / 8h6h 27m$3.0M$28.8M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GRVT 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

Funding earned
$0.34
Price spread: −0.279% → +0.014%
−$29.24
Slippage, 4 orders
−$3.09
Fee Phemex: 6 bp × 2 orders
−$12
Fee GRVT: 4.5 bp × 2 orders
−$9
Net
−$52.99
Costs to cover
0.241%
Break-even
1084.1 days
Slippage from Phemex: live order book, 6 min ago; GRVT: live order book, 1 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 Phemex live order book, 6 min ago0.06 bp8.8 bp −$99.3 bp −$9314.1 bp −$1,415doesn't fit
Sell GRVT live order book, 1 min ago0.06 bp4.6 bp −$56.6 bp −$6623.4 bp −$2,338doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%1h795.07−0.075%$46K—200xas long as short
Kraken Futures PF_BNBUSD−0.0131%1h795.48−0.024%$2.5M$1.0M50xas long as short
Hotstuff BNB-PERP−0.0080%1h794.82−0.107%$4K$23925xas long as short
StandX BNB-USD0.0000%1h795.55−0.015%$860K$3.1M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h795.21−0.058%$9.7M—150xas long as short
Variational Omni BNB+0.0025%8h793.33−0.294%$4.1M$4.9M—as long as short
Injective BNB/USDC PERP+0.0033%1h805.09+1.184%$19K$789K30xas long as short
Aster BNBUSDT+0.0037%8h796.09+0.053%$6.1M$19.7M200xas long as short
Phemex BNBUSDTlong+0.0042%8h795.67long leg$69.6M$50.8M50x
GRVT BNB_USDT_Perpshort+0.0044%8h793.45−0.279%$3.0M$28.8M10x
Show all 45 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate BNB_USDT+0.0046%8h795.45−0.028%$35.3M$56.0M75xas long as short
BingX BNB-USDC+0.0048%8h795.52−0.019%—$13.3M—as long as short
Coinbase International BNB-PERP-INTX+0.0056%1h791.17−0.566%$607K$1.1M50xas long as short
MEXC BNB_USDT+0.0063%8h796.10+0.054%$82.5M$12.8M200xas long as short
Binance BNBUSDT+0.0064%8h796.03+0.045%$495.3M$811.3M75xas long as short
dYdX BNB-USD+0.0065%1h794.66−0.126%$161K$63K10xas long as short
Phoenix BNB+0.0088%1h793.37−0.289%$170K$36K10xas long as short
Lighter BNB+0.0096%1h795.68+0.001%$2.8M$4.0M20xas long as short
Orderly PERP_BNB_USDC+0.0100%8h795.36−0.039%$384K$409K50xas long as short
Nado BNB-PERP+0.0100%1h794.40−0.160%$1.4M$2.7M20xas long as short
Hyperliquid BNB+0.0100%1h795.98+0.039%$52.2M$19.8M10xas long as short
Pacifica BNB+0.0100%1h794.84−0.104%$1.2M$925K20xas long as short
Bybit BNBUSDT+0.0100%8h795.48−0.024%$139.1M$75.9M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h795.10−0.072%$53.3M$110.6M50xas long as short
Arcus BNB-USD+0.0100%1h794.90−0.097%$52K$134K10xas long as short
KuCoin BNBUSDTM+0.0100%8h795.17−0.063%$27.8M$10.1M75xas long as short
Bitget BNBUSDT+0.0100%8h795.18−0.062%$77.5M$28.3M75xas long as short
edgeX BNBUSDC+0.0100%4h794.24−0.180%$4.1M$77.3M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h794.07−0.201%$160K$436K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h794.87−0.101%$111K$886K10xas long as short
Derive BNB-PERP+0.0100%1h795.54−0.016%$32K$9K10xas long as short
SunX BNB-USDT+0.0100%8h795.52−0.018%$12K$1.6M50xas long as short
SoDEX BNB-USD+0.0100%1h795.60−0.009%$391K$996K10xas long as short
HTX BNB-USDT+0.0100%8h794.34−0.167%$8.2M$8.8M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h795.15−0.065%$77K$17K50xas long as short
Extended BNB-USD+0.0104%1h795.05−0.078%$1.7M$5.8M50xas long as short
Aevo BNB-PERP+0.0104%1h795.52−0.018%$382K$110K10xas long as short
RISEx BNB/USDC+0.0131%1h795.08−0.074%$1.1M$1.4M20xas long as short
Kalshi KXBNBPERP+0.0159%8h795.30−0.047%$112K$2.7M4.8xas long as short
Bulk BNB-USD+0.0175%1h792.60−0.386%$642K$16K10xas long as short
01 Exchange BNBUSD+0.0256%1h795.32−0.044%$28K$2K10xas long as short
Reya BNBRUSDPERP+0.0329%1h794.76−0.115%$6K$3K40xas long as short
Backpack BNB_USDC_PERP+0.0392%1h796.13+0.058%$2.7M$5.7M40xas long as short
Deribit BNB_USDC-PERPETUAL+0.0400%1h795.96+0.036%$1.6M$160K25xas long as short
Hibachi BNB/USDT-P+0.0536%1h794.74−0.116%$68K$38K12xas long as short