BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.02 per $10,000 · paid last 24h −0.002%

Price spread now: Arcus against Phoenix−0.023%49s7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.424% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.023%, 7d avg +0.012%

Together, before fees−0.041%−$4 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 Arcus is 0.035% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.012%). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BNB	788.48	0.0117	pay 0.0015% / 1h	3m 47s	$169K	$35K	10x
Short	Arcus BNB-USD	788.30	0.0100	get 0.0013% / 1h	3m 47s	$52K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$3.63
Price spread: −0.023% → +0.012%: −$3.46
Slippage, 4 orders: −$30.88
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$49.47
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from Phoenix: live order book, 48 min ago; Arcus: live order book, 54 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 Phoenix live order book, 48 min ago	1.01 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Arcus live order book, 54 min ago	3.16 bp	8.6 bp −$9	19.4 bp −$194	doesn't fit	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 −0.0189% / S +0.0354%	1h	788.31	−0.022%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.30	−0.023%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.68	+0.025%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.39	−0.012%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.107%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.16	+0.086%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0047%	8h	788.57	+0.011%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	789.40	+0.117%	$80.1M	$12.4M	200x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.19	+0.090%	$69.0M	$50.3M	50x	as long as short
Binance BNBUSDT	+0.0058%	8h	789.27	+0.100%	$492.6M	$791.4M	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	+0.0064%	1h	788.26	−0.028%	$579K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.83	+0.044%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	−0.004%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.75	−0.093%	$1.5M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.15	+0.085%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.24	−0.031%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.010%	$138.7M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.60	+0.015%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USDshort	+0.0100%	1h	788.30	−0.023%	$52K	$130K	10x
Gate BNB_USDT	+0.0100%	8h	788.45	−0.004%	$35.5M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.41	−0.009%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.27	−0.027%	$76.3M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.95	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.097%	$4.1M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.58	+0.013%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.72	+0.030%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.041%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.48	0.000%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.71	+0.030%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.60	+0.015%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.52	+0.005%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.36	−0.015%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.18	−0.039%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.50	+0.003%	$379K	$110K	10x	as long as short
Phoenix BNBlong	+0.0117%	1h	788.48	long leg	$169K	$35K	10x
dYdX BNB-USD	+0.0121%	1h	788.57	+0.011%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0154%	8h	788.72	+0.030%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	788.80	+0.041%	$132K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0177%	8h	788.55	+0.009%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	+0.011%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.67	+0.024%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.45	−0.004%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.88	+0.050%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	788.05	−0.054%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0360%	1h	788.19	−0.037%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	788.44	−0.005%	$1.1M	$967K	20x	as long as short