BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h +0.002%

Price spread now: Phoenix against SoDEX−0.047%50s7-day average +0.060% · you buy dearer than you sell

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−$350.347% of the position

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.047%, 7d avg +0.060%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.107% cheaper against SoDEX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.060%). Swap the legs. The two prices were read 50 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	SoDEX BNB-USD	786.70	0.0128	pay 0.0016% / 1h	17m 17s	$387K	$993K	10x
Short	Phoenix BNB	786.33	0.0107	get 0.0013% / 1h	17m 17s	$169K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$4.48
Price spread: −0.047% → +0.060%: −$10.75
Slippage, 4 orders: −$19.68
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$49.9
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from SoDEX: live order book, 41 min ago; Phoenix: live order book, 24 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 SoDEX live order book, 41 min ago	0.64 bp	5.3 bp −$5	9.0 bp −$90	85.3 bp −$8,533	doesn't fit
Sell Phoenix live order book, 24 min ago	1.02 bp	12.4 bp −$12	43.2 bp −$432	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 −0.0192% / S +0.0356%	1h	786.23	−0.060%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.93	+0.029%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.37	+0.085%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.47	−0.029%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.338%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	786.81	+0.014%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0042%	8h	786.59	−0.014%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0055%	8h	787.13	+0.055%	$68.9M	$50.6M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	787.30	+0.076%	$80.4M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	787.10	+0.051%	$490.3M	$812.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.55	−0.019%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	785.85	−0.108%	$568K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	786.51	−0.024%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.53	−0.022%	$265K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.10	−0.076%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.08	+0.048%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.66	−0.005%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.40	−0.038%	$138.1M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.30	−0.051%	$53.4M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	0.000%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.032%	$36.7M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.14	−0.071%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.20	−0.064%	$76.1M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.85	+0.019%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.81	−0.113%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.59	−0.015%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.98	+0.036%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.37	−0.042%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.64	−0.008%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.99	+0.037%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.31	−0.050%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.90	+0.025%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.19	−0.064%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.60	−0.013%	$378K	$110K	10x	as long as short
Phoenix BNBshort	+0.0107%	1h	786.33	−0.047%	$169K	$35K	10x
SoDEX BNB-USDlong	+0.0128%	1h	786.70	long leg	$387K	$993K	10x
Kalshi KXBNBPERP	+0.0142%	8h	786.80	+0.013%	$160K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0160%	1h	786.37	−0.042%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0180%	8h	787.41	+0.090%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	787.48	+0.099%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.92	+0.028%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	787.25	+0.070%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	786.21	−0.063%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0341%	1h	785.39	−0.166%	$637K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.75	+0.006%	$1.1M	$901K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.96	+0.034%	$67K	$39K	12x	as long as short