Funding you earn now, next payment 00:00 UTC+0.0005%/8h= +0.5% APRnext payment +$0.01 per $10,000 · paid last 24h −0.008%
Price spread now: Extended against Phoenix−0.163%88s7-day average −0.142% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as 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−$310.313% of the position
Funding, last 7 days−0.200%−$20 on $10k
+Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.163%, 7d avg −0.142%
=Together, before fees−0.210%+ Points / potential airdropExtended: Active · farm board−$21 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: Extended is 0.021% cheaper against Phoenix than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.142%. The two prices were read 88 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 | 799.13 | 0.0099 | pay 0.0012% / 1h | 17m 46s | $172K | $36K | 10x |
| Short | Extended BNB-USD | 797.83 | 0.0104 | get 0.0013% / 1h | 17m 46s | $1.8M | $6.0M | 50x |
Phoenix BNB
Extended BNB-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $1.04
- Price spread: −0.163% → −0.142%
- −$2.1
- Slippage, 4 orders
- −$19.27
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$32.33
- Costs to cover
- 0.313%
- Break-even
- 224.1 days
Slippage from Phoenix: live order book, 49 min ago; Extended: live order book, 1 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, 49 min ago | 1.00 bp | 12.4 bp −$12 | 50.9 bp −$509 | doesn't fit | doesn't fit |
| Sell Extended live order book, 1 min ago | 0.06 bp | 3.4 bp −$3 | 4.7 bp −$47 | 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 −0.0159% / S +0.0335% | 1h | 797.78 | −0.169% | $47K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0121% | 1h | 797.96 | −0.146% | $2.5M | $1.0M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 797.57 | −0.195% | $4K | $239 | 25x | as long as short |
| Gate BNB_USDT | −0.0011% | 8h | 797.95 | −0.148% | $35.9M | $56.8M | 75x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 798.85 | −0.035% | $3.0M | $27.9M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 799.12 | −0.001% | $864K | $2.9M | 30x | as long as short |
| Variational Omni BNB | +0.0004% | 8h | 797.72 | −0.177% | $4.1M | $5.0M | — | as long as short |
| BingX BNB-USDT | +0.0004% | 8h | 798.25 | −0.110% | — | $35.0M | — | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 797.76 | −0.171% | $9.7M | — | 150x | as long as short |
| Bybit BNBUSDT | +0.0013% | 8h | 798.00 | −0.141% | $138.6M | $76.3M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Gate BNB_USDT
GRVT BNB_USDT_Perp
StandX BNB-USD
Variational Omni BNB
BingX BNB-USDT
gTrade (Gains Network) BNB/USD
Bybit BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0030% | 8h | 798.80 | −0.041% | $69.8M | $50.2M | 50x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +0.746% | $19K | $789K | 30x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0048% | 1h | 799.07 | −0.008% | $615K | $1.1M | 50x | as long as short |
| Aster BNBUSDT | +0.0053% | 8h | 798.71 | −0.052% | $6.1M | $19.4M | 200x | as long as short |
| Binance BNBUSDT | +0.0075% | 8h | 798.86 | −0.034% | $496.0M | $811.8M | 75x | as long as short |
| MEXC BNB_USDT | +0.0076% | 8h | 799.20 | +0.009% | $83.1M | $13.7M | 200x | as long as short |
| Lighter BNB | +0.0096% | 1h | 798.45 | −0.086% | $2.8M | $4.0M | 20x | as long as short |
| Phoenix BNBlong | +0.0099% | 1h | 799.13 | long leg | $172K | $36K | 10x | |
| Nado BNB-PERP | +0.0100% | 1h | 796.70 | −0.304% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 797.18 | −0.245% | $1.2M | $937K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 798.10 | −0.129% | $54.2M | $111.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 797.40 | −0.216% | $52K | $133K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 798.08 | −0.131% | $27.9M | $10.0M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 797.89 | −0.155% | $78.1M | $28.1M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 798.91 | −0.028% | $4.2M | $76.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 798.95 | −0.023% | $161K | $435K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 797.26 | −0.234% | $113K | $884K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 797.96 | −0.146% | $386K | $459K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 798.11 | −0.128% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 798.58 | −0.069% | $13K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 798.10 | −0.129% | $392K | $997K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 797.53 | −0.200% | $8.2M | $8.3M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 797.64 | −0.186% | $78K | $18K | 50x | as long as short |
| Extended BNB-USDshort | +0.0104% | 1h | 797.83 | −0.163% | $1.8M | $6.0M | 50x | |
| Aevo BNB-PERP | +0.0104% | 1h | 797.98 | −0.143% | $383K | $110K | 10x | as long as short |
| Bulk BNB-USD | +0.0138% | 1h | 797.80 | −0.166% | $648K | $10K | 10x | as long as short |
| RISEx BNB/USDC | +0.0155% | 1h | 797.23 | −0.238% | $1.1M | $1.4M | 20x | as long as short |
| Kalshi KXBNBPERP | +0.0158% | 8h | 798.80 | −0.041% | $90K | $2.8M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0196% | 8h | 798.72 | −0.051% | $18.1M | $2.6M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0200% | 1h | 797.74 | −0.174% | $28K | $1K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 798.41 | −0.090% | $1.6M | $161K | 25x | as long as short |
| dYdX BNB-USD | +0.0201% | 1h | 796.94 | −0.274% | $161K | $63K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0272% | 1h | 798.92 | −0.027% | $68K | $38K | 12x | as long as short |
| Hyperliquid BNB | +0.0294% | 1h | 799.15 | +0.003% | $53.1M | $20.3M | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0330% | 1h | 797.06 | −0.259% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0424% | 1h | 799.12 | −0.001% | $2.7M | $5.7M | 40x | as long as short |
Phemex BNBUSDT
Injective BNB/USDC PERP
Coinbase International BNB-PERP-INTX
Aster BNBUSDT
Binance BNBUSDT
MEXC BNB_USDT
Lighter BNB
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Aevo BNB-PERP
Bulk BNB-USD
RISEx BNB/USDC
Kalshi KXBNBPERP
BloFin BNB-USDT
01 Exchange BNBUSD
Deribit BNB_USDC-PERPETUAL
dYdX BNB-USD
Hibachi BNB/USDT-P
Hyperliquid BNB
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP