BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0025%/8h= −2.7% APRnext payment −$0.25 per $10,000 · paid last 24h −0.003%

Price spread now: Orderly against Phemex−0.081%7-day average −0.036% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 3 days (all we have)+0.063%+$6 · spread now −0.081%, 7d avg −0.036%

Together, before fees+0.173%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.045% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.109%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	804.52	0.0125	pay 0.0125% / 8h	2h 30m	$70.2M	$51.7M	50x
Short	Orderly PERP_BNB_USDC	803.87	0.0100	get 0.0100% / 8h	2h 30m	$388K	$593K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.081%Rate

Funding earned: −$5.23
Price spread: −0.081% → −0.036%: −$4.53
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.76
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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	0.44 bp	6.9 bp −$7	6.9 bp −$69	12.0 bp −$1,202	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	803.78	−0.092%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.19	−0.041%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.90	−0.078%	$3.0M	$29.3M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.60	+0.010%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.20	−0.040%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.86	−0.082%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.90	−0.077%	$2.5M	$909K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	803.71	−0.100%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0054%	8h	804.09	−0.053%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0075%	8h	803.50	−0.127%	$139.3M	$82.8M	75x	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	804.19	−0.041%	$609K	$878K	50x	as long as short
Aster BNBUSDT	+0.0090%	8h	804.51	−0.001%	$6.4M	$18.8M	200x	as long as short
Lighter BNB	+0.0096%	1h	804.05	−0.059%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	803.88	−0.080%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.34	−0.022%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.70	−0.102%	$55.1M	$115.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.30	−0.027%	$53K	$165K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	803.80	−0.089%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.74	−0.097%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.79	−0.091%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	804.49	−0.003%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.32	−0.025%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.74	−0.097%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	803.87	−0.081%	$388K	$593K	50x
Derive BNB-PERP	+0.0100%	1h	803.97	−0.068%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.80	+0.035%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.31	−0.026%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.07	−0.056%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.81	+0.035%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.45	−0.132%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.04	−0.060%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0106%	8h	804.90	+0.047%	$84.4M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0106%	8h	804.52	0.000%	$519.1M	$803.1M	75x	as long as short
Phemex BNBUSDTlong	+0.0125%	8h	804.52	long leg	$70.2M	$51.7M	50x
Phoenix BNB	+0.0125%	1h	803.93	−0.073%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0157%	1h	804.49	−0.004%	$51.7M	$21.3M	10x	as long as short
SoDEX BNB-USD	+0.0175%	1h	803.90	−0.077%	$395K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0197%	1h	804.34	−0.022%	$650K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.38	−0.017%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0226%	8h	804.88	+0.045%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	804.11	−0.051%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0277%	1h	804.28	−0.030%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	804.86	+0.042%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.52	−0.125%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.050%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0660%	1h	805.11	+0.073%	$3.0M	$5.4M	40x	as long as short