BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.02 per $10,000 · paid last 24h −0.008%

Price spread now: Nado against Phoenix+0.032%57s7-day average −0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.319% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now +0.032%, 7d avg −0.110%

Together, before fees−0.231%+ Points / potential airdropNado: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.142% dearer against Phoenix than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.110%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days. At the pace of the last 3 days (−0.062% in total) that is about 7.8 days. The two prices were read 57 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	789.25	0.0117	pay 0.0015% / 1h	0m 07s	$170K	$35K	10x
Short	Nado BNB-PERP	789.50	0.0100	get 0.0012% / 1h	0m 07s	$1.5M	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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

Position, each leg$Hold fordaysFee PhoenixbpFee NadobpOrdersPrice spread, now +0.032%Rate

Funding earned: −$3.63
Price spread: +0.032% → −0.110%: $14.19
Slippage, 4 orders: −$17.93
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$21.37
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Phoenix: live order book, 51 min ago; Nado: live order book, 4 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, 51 min ago	1.01 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	0.06 bp	3.6 bp −$4	8.6 bp −$86	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 −0.0190% / S +0.0354%	1h	789.26	+0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.39	+0.018%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.04	−0.027%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.32	+0.008%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.007%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	790.23	+0.124%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0046%	8h	789.11	−0.018%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	789.80	+0.070%	$80.1M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0058%	8h	789.51	+0.032%	$492.9M	$791.6M	75x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.60	+0.044%	$69.1M	$50.4M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	788.26	−0.125%	$579K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.38	+0.016%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.30	+0.006%	$265K	$492K	50x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	789.50	+0.032%	$1.5M	$2.5M	20x
Hyperliquid BNB	+0.0100%	1h	789.59	+0.043%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.80	+0.070%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.90	−0.044%	$138.8M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.80	−0.057%	$53.4M	$111.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	+0.044%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.90	−0.044%	$35.5M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.01	−0.030%	$28.1M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.03	−0.028%	$76.4M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.38	+0.016%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	−0.017%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.18	−0.009%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.32	+0.009%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.35	+0.013%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.34	+0.011%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.83	+0.074%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.30	+0.006%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.25	0.000%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	790.01	+0.096%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.03	−0.028%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.28	+0.004%	$379K	$110K	10x	as long as short
Phoenix BNBlong	+0.0117%	1h	789.25	long leg	$170K	$35K	10x
dYdX BNB-USD	+0.0122%	1h	789.25	0.000%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0157%	8h	789.58	+0.042%	$2.9M	$28.5M	10x	as long as short
Kalshi KXBNBPERP	+0.0177%	8h	789.90	+0.082%	$133K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0178%	8h	790.06	+0.103%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0216%	1h	788.57	−0.086%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	790.21	+0.122%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.07	−0.023%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.74	+0.062%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.25	0.000%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0360%	1h	789.68	+0.054%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.92	+0.085%	$1.1M	$903K	20x	as long as short