Funding you earn now, next payment 05:00 UTC+0.0429%/8h= +47.0% APRnext payment +$0.54 per $10,000 · paid last 24h +0.067%
Price spread now: Hibachi against Phoenix−0.021%61s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.294%+$29 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Funding pays, the price is against you. Hibachi is 0.021% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 4 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.294% in total) that is about 12 hours. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.294% in total (about 15.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BNB | 786.99 | 0.0107 | pay 0.0013% / 1h | 14m 33s | $169K | $35K | 10x |
| Short | Hibachi BNB/USDT-P | 786.82 | 0.0536 | get 0.0067% / 1h | 14m 33s | $67K | $39K | 12x |
Phoenix BNB
Hibachi BNB/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi 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
- $90.17
- Price spread: −0.021% → 0.000%
- −$2.13
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- $72.03
- Costs to cover
- 0.160%
- Break-even
- 1.4 days
Slippage unknown: Phoenix: live order book, 27 min ago; Hibachi: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phoenix live order book, 27 min ago | 1.02 bp | 12.4 bp −$12 | 50.9 bp −$509 | doesn't fit | doesn't fit |
| Sell Hibachi no order-book sample | — | — | — | — | — |
Hibachi: 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.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GMX BNB/USD [WBTC.b-USDC] | L −0.0192% / S +0.0356% | 1h | 786.35 | −0.082% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.17 | +0.023% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.41 | +0.053% | $849K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 786.47 | −0.066% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.300% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0039% | 8h | 787.18 | +0.024% | $6.1M | $19.0M | 200x | as long as short |
| BingX BNB-USDC | +0.0045% | 8h | 786.97 | −0.003% | — | $13.4M | — | as long as short |
| Phemex BNBUSDT | +0.0058% | 8h | 787.23 | +0.030% | $68.9M | $50.6M | 50x | as long as short |
| MEXC BNB_USDT | +0.0063% | 8h | 787.60 | +0.078% | $80.5M | $12.0M | 200x | as long as short |
| Binance BNBUSDT | +0.0063% | 8h | 787.59 | +0.076% | $490.6M | $812.7M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDC
Phemex BNBUSDT
MEXC BNB_USDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_BNBUSD | +0.0069% | 1h | 786.57 | −0.053% | $2.5M | $1.2M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 785.85 | −0.145% | $568K | $1.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.91 | −0.011% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 786.55 | −0.056% | $265K | $489K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.60 | −0.050% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 787.53 | +0.069% | $51.5M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 787.10 | +0.014% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 786.90 | −0.011% | $138.2M | $74.8M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.90 | −0.011% | $53.5M | $112.8M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.00 | +0.001% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.90 | −0.011% | $36.7M | $59.2M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 786.45 | −0.069% | $27.7M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 786.67 | −0.041% | $76.1M | $31.0M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 787.07 | +0.010% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 786.32 | −0.085% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 786.93 | −0.008% | $4.1M | $75.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.09 | +0.013% | $158K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.80 | −0.024% | $131K | $951K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 786.70 | −0.037% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 787.22 | +0.029% | $12K | $1.5M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.44 | −0.070% | $8.0M | $10.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 787.29 | +0.038% | $76K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 786.59 | −0.051% | $1.8M | $6.2M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.67 | −0.041% | $378K | $110K | 10x | as long as short |
| Phoenix BNBlong | +0.0107% | 1h | 786.99 | long leg | $169K | $35K | 10x | |
| SoDEX BNB-USD | +0.0130% | 1h | 786.70 | −0.037% | $387K | $993K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0138% | 8h | 786.90 | −0.011% | $160K | $2.7M | 4.8x | as long as short |
| dYdX BNB-USD | +0.0158% | 1h | 786.37 | −0.079% | $159K | $62K | 10x | as long as short |
| BloFin BNB-USDT | +0.0183% | 8h | 787.25 | +0.033% | $17.7M | $2.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0217% | 8h | 787.48 | +0.062% | $2.9M | $29.5M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 787.02 | +0.004% | $1.5M | $143K | 25x | as long as short |
| 01 Exchange BNBUSD | +0.0312% | 1h | 787.74 | +0.095% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0323% | 1h | 786.71 | −0.036% | $6K | $3K | 40x | as long as short |
| Bulk BNB-USD | +0.0341% | 1h | 785.39 | −0.203% | $637K | $4K | 10x | as long as short |
| RISEx BNB/USDC | +0.0432% | 1h | 787.22 | +0.029% | $1.1M | $901K | 20x | as long as short |
| Hibachi BNB/USDT-Pshort | +0.0536% | 1h | 786.82 | −0.021% | $67K | $39K | 12x |
Kraken Futures PF_BNBUSD
Coinbase International BNB-PERP-INTX
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
SoDEX BNB-USD
Kalshi KXBNBPERP
dYdX BNB-USD
BloFin BNB-USDT
GRVT BNB_USDT_Perp
Deribit BNB_USDC-PERPETUAL
01 Exchange BNBUSD
Reya BNBRUSDPERP
Bulk BNB-USD
RISEx BNB/USDC