BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0066%/8h= −7.2% APRnext payment −$0.08 per $10,000 · paid last 24h −0.014%

Price spread now: Injective against Phoenix+0.746%7-day average −0.407% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.413%−$41 on $10k

Price spread, last 3 days (all we have)−1.250%−$125 · spread now +0.746%, 7d avg −0.407%

Together, before fees−1.663%−$166 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.153% dearer against Phoenix than usual: you sell high and buy low (spread +0.746% now, against its 7-day average of −0.407%): +$115 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 58 days. At the pace of the last 7 days (−0.413% in total) that is about 20 days.

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	18m 22s	$172K	$36K	10x
Short	Injective BNB/USDC PERP	805.09	0.0033	get 0.0004% / 1h	18m 22s	$19K	$789K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +0.746%Rate

Funding earned: −$13.8
Price spread: +0.746% → −0.407%: $115.29
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $94.47
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 48 min ago; Injective: 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, 48 min ago	1.00 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0159% / 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	797.50	−0.204%	$35.9M	$56.8M	75x	as long as short
BingX BNB-USDT	−0.0007%	8h	797.62	−0.189%	—	$35.0M	—	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
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	797.62	−0.189%	$138.5M	$76.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0016%	8h	798.03	−0.138%	$69.7M	$50.2M	50x	as long as short
Injective BNB/USDC PERPshort	+0.0033%	1h	805.09	+0.746%	$19K	$789K	30x
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	797.52	−0.201%	$6.1M	$19.4M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	798.23	−0.112%	$495.6M	$811.6M	75x	as long as short
MEXC BNB_USDT	+0.0076%	8h	798.30	−0.104%	$83.0M	$13.7M	200x	as long as short
Lighter BNB	+0.0096%	1h	797.32	−0.227%	$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	797.90	−0.154%	$54.1M	$110.9M	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	797.15	−0.248%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.47	−0.208%	$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	797.02	−0.264%	$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-USD	+0.0104%	1h	797.64	−0.187%	$1.8M	$6.0M	50x	as long as short
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	+0.0156%	8h	798.70	−0.054%	$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	+0.0295%	1h	798.27	−0.108%	$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	+0.0420%	1h	798.50	−0.079%	$2.7M	$5.7M	40x	as long as short