Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.010%

Price spread now: Paradex against Phoenix−0.076%46s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.076% cheaper against Phoenix than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	800.04	0.0099	pay 0.0012% / 1h	10m 45s	$172K	$36K	10x
Short	Paradex BNB-USD-PERP	799.43	0.0100	get 0.0100% / 8h	7h 10m	$78K	$18K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0.21
Price spread: −0.076% → 0.000%: −$7.61
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$18.39
Costs to cover: 0.110%
Break-even: 607.4 days

Slippage unknown: Phoenix: live order book, 56 min ago; Paradex: 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, 56 min ago	1.00 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	798.19	−0.231%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.19	−0.231%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.63	−0.176%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.74	−0.038%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.92	−0.015%	$864K	$2.9M	30x	as long as short
Gate BNB_USDT	+0.0007%	8h	798.45	−0.199%	$35.9M	$57.0M	75x	as long as short
Variational Omni BNB	+0.0008%	8h	797.92	−0.265%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.13	−0.238%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0028%	8h	798.76	−0.160%	$69.8M	$50.1M	50x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.631%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDT	+0.0035%	8h	798.88	−0.145%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.121%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	798.92	−0.141%	$6.1M	$19.4M	200x	as long as short
Bybit BNBUSDT	+0.0069%	8h	798.72	−0.165%	$138.7M	$76.0M	75x	as long as short
MEXC BNB_USDT	+0.0072%	8h	799.80	−0.030%	$83.2M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0072%	8h	799.51	−0.067%	$496.6M	$809.2M	75x	as long as short
Lighter BNB	+0.0096%	1h	799.04	−0.125%	$2.8M	$4.0M	20x	as long as short
Phoenix BNBlong	+0.0099%	1h	800.04	long leg	$172K	$36K	10x
Nado BNB-PERP	+0.0100%	1h	798.20	−0.230%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.06	−0.122%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.50	−0.192%	$54.2M	$110.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	−0.117%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.52	−0.190%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.35	−0.211%	$78.2M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.52	−0.065%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.37	−0.084%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.21	−0.229%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.15	−0.236%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.23	−0.226%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.92	−0.140%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.30	−0.217%	$392K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.13	−0.239%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERPshort	+0.0100%	8h	799.43	−0.076%	$78K	$18K	50x
Extended BNB-USD	+0.0104%	1h	798.37	−0.209%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.14	−0.237%	$383K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.280%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.80	−0.155%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	798.80	−0.155%	$90K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0190%	1h	798.50	−0.192%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0193%	8h	798.69	−0.169%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	798.83	−0.151%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0289%	1h	799.49	−0.069%	$53.1M	$20.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	798.60	−0.180%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	799.02	−0.128%	$68K	$38K	12x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.06	−0.248%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0428%	1h	798.98	−0.132%	$2.7M	$5.7M	40x	as long as short