Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

BNB

all BNB markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 21:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.008%
Price spread now: Phoenix against Phemex−0.083%47s7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as 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−$390.391% of the position
Long on PhemexShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.292%+$29 on $10k
Price spread, last 3 days (all we have)+0.245%+$24 · spread now −0.083%, 7d avg +0.013%
Together, before fees+0.537%+$54 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: Phoenix is 0.096% cheaper against Phemex than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.013%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BNBUSDT804.600.0123pay 0.0123% / 8h2h 33m$70.2M$51.7M50x
ShortPhoenix BNB803.930.0125get 0.0016% / 1h33m 26s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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
$0.42
Price spread: −0.083% → +0.013%
−$9.62
Slippage, 4 orders
−$20.11
Fee Phemex: 6 bp × 2 orders
−$12
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$48.31
Costs to cover
0.391%
Break-even
819.6 days
Slippage from Phemex: live order book, 6 min ago; Phoenix: live order book, 49 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 ago0.19 bp7.0 bp −$77.6 bp −$7610.8 bp −$1,080doesn't fit
Sell Phoenix live order book, 49 min ago0.99 bp12.3 bp −$1243.2 bp −$432doesn't fitdoesn't fit

BNB on 46 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 −0.0195% / S +0.0371%1h803.74−0.107%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h804.42−0.022%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h803.90−0.087%$3.0M$29.3M10xas long as short
Kalshi KXBNBPERP0.0000%8h804.50−0.012%$112K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h803.92−0.085%$869K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h803.83−0.096%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h803.87−0.091%$2.5M$908K50xas long as short
Variational Omni BNB+0.0051%8h802.62−0.246%$4.0M$5.3M—as long as short
BingX BNB-USDT+0.0057%8h803.79−0.101%—$34.5M—as long as short
Bybit BNBUSDT+0.0076%8h803.40−0.149%$139.3M$82.9M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.19−0.051%$609K$878K50xas long as short
Aster BNBUSDT+0.0089%8h804.56−0.005%$6.4M$18.8M200xas long as short
Lighter BNB+0.0096%1h804.22−0.047%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h803.70−0.112%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h804.27−0.041%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h803.70−0.112%$55.1M$115.5M50xas long as short
Arcus BNB-USD+0.0100%1h804.10−0.062%$52K$163K10xas long as short
Gate BNB_USDT+0.0100%8h803.65−0.118%$35.9M$58.5M75xas long as short
KuCoin BNBUSDTM+0.0100%8h803.55−0.130%$28.1M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h803.72−0.109%$79.1M$24.5M75xas long as short
edgeX BNBUSDC+0.0100%4h804.01−0.073%$4.2M$76.8M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.17−0.053%$159K$439K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h803.69−0.113%$118K$868K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h803.89−0.088%$388K$593K50xas long as short
Derive BNB-PERP+0.0100%1h803.98−0.077%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h804.40−0.025%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h804.29−0.038%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h803.72−0.109%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h804.67+0.008%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h803.47−0.140%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h804.13−0.059%$386K$40K10xas long as short
MEXC BNB_USDT+0.0105%8h804.70+0.012%$84.4M$13.6M200xas long as short
Binance BNBUSDT+0.0105%8h804.41−0.023%$518.8M$803.1M75xas long as short
Phemex BNBUSDTlong+0.0123%8h804.60long leg$70.2M$51.7M50x
Phoenix BNBshort+0.0125%1h803.93−0.083%$173K$35K10x
SoDEX BNB-USD+0.0152%1h803.90−0.087%$395K$1.0M10xas long as short
Hyperliquid BNB+0.0155%1h804.44−0.020%$51.7M$21.3M10xas long as short
Bulk BNB-USD+0.0194%1h803.61−0.123%$649K$11K10xas long as short
RISEx BNB/USDC+0.0209%1h804.17−0.053%$1.1M$1.4M20xas long as short
BloFin BNB-USDT+0.0225%8h804.34−0.032%$18.8M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0248%1h804.08−0.065%$71K$48K12xas long as short
dYdX BNB-USD+0.0260%1h804.28−0.040%$170K$55K10xas long as short
01 Exchange BNBUSD+0.0320%1h804.59−0.001%$28K$1K10xas long as short
Reya BNBRUSDPERP+0.0334%1h803.51−0.135%$6K$3K40xas long as short
Injective BNB/USDC PERP+0.0353%1h804.92+0.040%$19K$526K30xas long as short
Backpack BNB_USDC_PERP+0.0668%1h804.90+0.037%$3.0M$5.4M40xas long as short