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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
Measured
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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
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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−0.0497%/8h= −54.4% APRnext payment −$0.62 per $10,000 · paid last 24h −0.135%
Price spread now: GMX against Phoenix+0.021%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PhoenixShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
The price spread pays, funding is against you. GMX is 0.021% dearer against Phoenix than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 3 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix BNB803.300.0125pay 0.0016% / 1h35m 18s$173K$35K10x
ShortGMX BNB/USD [WBTC.b-USDC]803.47L −0.0195% / S +0.0371%pay 0.0046% / 1h35m 18s$48K—200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX 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
−$104.28
Price spread: +0.021% → 0.000%
$2.08
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee GMX: 6 bp × 2 orders
−$12
Net
−$121.21
Costs to cover
0.190%
Break-even
never at this rate
Slippage unknown: Phoenix: live order book, 47 min ago; GMX: 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
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 47 min ago0.99 bp12.3 bp −$1250.8 bp −$508doesn't fitdoesn't fit
Sell GMX no order-book sample—————
GMX: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]shortL −0.0195% / S +0.0371%1h803.47+0.021%$48K—200x
Hotstuff BNB-PERP−0.0080%1h803.52+0.027%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h804.19+0.110%$3.0M$29.4M10xas long as short
Kalshi KXBNBPERP0.0000%8h803.60+0.037%$111K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h803.92+0.077%$869K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h803.49+0.024%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h803.67+0.046%$2.5M$908K50xas long as short
Variational Omni BNB+0.0051%8h802.62−0.084%$4.0M$5.3M—as long as short
BingX BNB-USDC+0.0057%8h803.42+0.015%—$13.3M—as long as short
Bybit BNBUSDT+0.0077%8h803.01−0.036%$139.3M$82.8M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster BNBUSDT+0.0087%8h804.04+0.092%$6.4M$18.8M200xas long as short
Coinbase International BNB-PERP-INTX+0.0088%1h803.99+0.086%$608K$878K50xas long as short
Lighter BNB+0.0096%1h803.41+0.014%$2.8M$4.2M20xas long as short
Nado BNB-PERP+0.0100%1h803.12−0.023%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h803.56+0.033%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h803.40+0.012%$55.1M$115.4M50xas long as short
Arcus BNB-USD+0.0100%1h803.70+0.050%$52K$162K10xas long as short
Gate BNB_USDT+0.0100%8h803.25−0.006%$35.9M$58.5M75xas long as short
KuCoin BNBUSDTM+0.0100%8h803.26−0.005%$28.1M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h803.22−0.010%$79.0M$24.5M75xas long as short
edgeX BNBUSDC+0.0100%4h803.02−0.035%$4.2M$76.8M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.17+0.108%$159K$439K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h803.39+0.011%$118K$868K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h803.55+0.031%$388K$593K50xas long as short
Derive BNB-PERP+0.0100%1h803.64+0.043%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h803.90+0.075%$13K$1.7M50xas long as short
HTX BNB-USDT+0.0100%8h803.29−0.001%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h804.04+0.092%$78K$19K50xas long as short
Extended BNB-USD+0.0104%1h803.20−0.012%$1.9M$6.1M50xas long as short
MEXC BNB_USDT+0.0104%8h804.60+0.162%$84.3M$13.6M200xas long as short
Aevo BNB-PERP+0.0104%1h803.69+0.049%$386K$40K10xas long as short
Binance BNBUSDT+0.0105%8h804.21+0.113%$518.7M$802.8M75xas long as short
Phemex BNBUSDT+0.0125%8h803.65+0.044%$70.1M$51.7M50xas long as short
Phoenix BNBlong+0.0125%1h803.30long leg$173K$35K10x
SoDEX BNB-USD+0.0140%1h803.60+0.037%$395K$1.0M10xas long as short
Hyperliquid BNB+0.0149%1h804.13+0.103%$51.7M$21.3M10xas long as short
Bulk BNB-USD+0.0194%1h803.61+0.039%$649K$11K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0200%1h804.00+0.087%$1.6M$165K25xas long as short
RISEx BNB/USDC+0.0209%1h803.77+0.059%$1.1M$1.4M20xas long as short
BloFin BNB-USDT+0.0223%8h804.26+0.120%$18.8M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0248%1h803.300.000%$71K$48K12xas long as short
dYdX BNB-USD+0.0267%1h803.57+0.033%$170K$55K10xas long as short
01 Exchange BNBUSD+0.0320%1h804.29+0.123%$28K$1K10xas long as short
Reya BNBRUSDPERP+0.0334%1h803.300.000%$6K$3K40xas long as short
Injective BNB/USDC PERP+0.0353%1h804.92+0.202%$19K$526K30xas long as short
Backpack BNB_USDC_PERP+0.0669%1h804.06+0.095%$3.0M$5.4M40xas long as short