Settings8H · net · $10k
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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 23:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h −0.010%
Price spread now: Bitget against Phoenix−0.188%7-day average −0.126% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$380.378% of the position
Long on PhoenixShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.226%−$23 on $10k
Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.188%, 7d avg −0.126%
Together, before fees−0.207%−$21 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 Bitget is 0.062% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.126%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix BNB799.200.0127pay 0.0016% / 1h11m 20s$172K$36K10x
ShortBitget BNBUSDT797.700.0100get 0.0100% / 8h11m 20s$79.0M$27.5M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget 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

Funding earned
−$5.61
Price spread: −0.188% → −0.126%
−$6.2
Slippage, 4 orders
−$18.8
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Bitget: 6 bp × 2 orders
−$12
Net
−$49.62
Costs to cover
0.378%
Break-even
never at this rate
Slippage from Phoenix: live order book, 60 min ago; Bitget: live order book, 3 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 Phoenix live order book, 60 min ago1.00 bp12.4 bp −$1250.9 bp −$509doesn't fitdoesn't fit
Sell Bitget live order book, 3 min ago0.06 bp6.5 bp −$69.4 bp −$9417.8 bp −$1,778doesn'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 −0.0201% / S +0.0372%1h797.88−0.165%$47K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h798.31−0.111%$4K$1K25xas long as short
Kraken Futures PF_BNBUSD−0.0074%1h797.85−0.169%$2.5M$974K50xas long as short
GRVT BNB_USDT_Perp0.0000%8h798.80−0.050%$3.0M$27.9M10xas long as short
StandX BNB-USD0.0000%1h799.15−0.006%$864K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h797.94−0.158%$9.7M—150xas long as short
Variational Omni BNB+0.0008%8h797.53−0.208%$4.0M$5.4M—as long as short
BingX BNB-USDC+0.0033%8h798.13−0.134%—$13.3M—as long as short
Bybit BNBUSDT+0.0039%8h797.60−0.200%$138.4M$76.8M75xas long as short
Coinbase International BNB-PERP-INTX+0.0072%1h798.77−0.054%$604K$983K50xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster BNBUSDT+0.0083%8h798.54−0.083%$6.2M$19.1M200xas long as short
Lighter BNB+0.0096%1h798.32−0.110%$2.8M$4.1M20xas long as short
Nado BNB-PERP+0.0100%1h797.70−0.188%$1.4M$2.7M20xas long as short
Pacifica BNB+0.0100%1h798.27−0.117%$1.2M$926K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h797.60−0.200%$54.3M$112.6M50xas long as short
Arcus BNB-USD+0.0100%1h798.30−0.113%$52K$133K10xas long as short
Gate BNB_USDT+0.0100%8h797.70−0.188%$35.7M$58.5M75xas long as short
KuCoin BNBUSDTM+0.0100%8h797.86−0.168%$27.9M$10.2M75xas long as short
Bitget BNBUSDTshort+0.0100%8h797.70−0.188%$79.0M$27.5M75x
edgeX BNBUSDC+0.0100%4h798.97−0.029%$4.1M$76.2M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h799.19−0.001%$161K$438K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h797.88−0.165%$116K$874K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h797.84−0.170%$386K$494K50xas long as short
Derive BNB-PERP+0.0100%1h797.95−0.156%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h798.97−0.029%$13K$1.7M50xas long as short
SoDEX BNB-USD+0.0100%1h798.10−0.138%$392K$1.0M10xas long as short
HTX BNB-USDT+0.0100%8h798.64−0.070%$8.2M$8.0M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h798.71−0.061%$78K$19K50xas long as short
Phemex BNBUSDT+0.0101%8h798.80−0.050%$69.9M$50.7M50xas long as short
Binance BNBUSDT+0.0104%8h798.37−0.104%$497.4M$817.7M75xas long as short
Extended BNB-USD+0.0104%1h797.45−0.219%$1.7M$6.5M50xas long as short
MEXC BNB_USDT+0.0104%8h798.80−0.050%$83.0M$13.6M200xas long as short
Aevo BNB-PERP+0.0104%1h798.00−0.150%$383K$40K10xas long as short
Phoenix BNBlong+0.0127%1h799.20long leg$172K$36K10x
Kalshi KXBNBPERP+0.0141%8h799.30+0.013%$90K$2.9M4.8xas long as short
Hibachi BNB/USDT-P+0.0168%1h798.47−0.091%$70K$43K12xas long as short
Deribit BNB_USDC-PERPETUAL+0.0200%1h798.29−0.113%$1.6M$165K25xas long as short
Bulk BNB-USD+0.0214%1h799.38+0.023%$649K$17K10xas long as short
Hyperliquid BNB+0.0224%1h798.82−0.048%$52.4M$21.3M10xas long as short
BloFin BNB-USDT+0.0225%8h798.80−0.050%$18.1M$2.5M75xas long as short
RISEx BNB/USDC+0.0258%1h798.12−0.135%$1.1M$1.4M20xas long as short
01 Exchange BNBUSD+0.0272%1h798.54−0.083%$28K$1K10xas long as short
Injective BNB/USDC PERP+0.0306%1h805.09+0.737%$19K$789K30xas long as short
Reya BNBRUSDPERP+0.0331%1h797.57−0.205%$6K$3K40xas long as short
dYdX BNB-USD+0.0342%1h798.70−0.063%$161K$63K10xas long as short
Backpack BNB_USDC_PERP+0.0344%1h799.05−0.019%$2.7M$5.7M40xas long as short