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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:00 UTC+0.0021%/8h= +2.3% APRnext payment +$0.03 per $10,000 · paid last 24h +0.009%
Price spread now: Phoenix against Aevo−0.034%7-day average +0.072% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$111as in the Price arb table
costs, in and out, $10k−$1001.003% of the position
Long on AevoShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.174%+$17 on $10k
Price spread, last 3 days (all we have)+0.224%+$22 · spread now −0.034%, 7d avg +0.072%
Together, before fees+0.398%+$40 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.106% cheaper against Aevo than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.072%). If the spread goes back, that is −$11 on $10k: about 17 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.174% in total) that is about 4.2 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAevo BNB-PERP804.930.0104pay 0.0013% / 1h3m 14s$387K$40K10x
ShortPhoenix BNB804.660.0125get 0.0016% / 1h3m 14s$173K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Aevo. 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

Funding earned
$4.44
Price spread: −0.034% → +0.072%
−$10.55
Slippage, 4 orders
−$77.31
Fee Aevo: 8 bp × 2 orders
−$16
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$106.42
Costs to cover
1.003%
Break-even
174.9 days
Slippage from Aevo: live order book, 21 min ago; Phoenix: live order book, 13 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aevo live order book, 21 min ago12.10 bp43.9 bp −$4452.6 bp −$52679.9 bp −$7,995doesn't fit
Sell Phoenix live order book, 13 min ago0.99 bp12.4 bp −$1243.1 bp −$431doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h804.67−0.033%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h805.18+0.031%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h804.57−0.045%$3.0M$29.5M10xas long as short
Kalshi KXBNBPERP0.0000%8h805.10+0.021%$114K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h804.20−0.091%$869K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h804.75−0.023%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h804.92−0.001%$2.5M$928K50xas long as short
Variational Omni BNB+0.0048%8h803.61−0.164%$4.1M$5.3M—as long as short
BingX BNB-USDC+0.0056%8h804.71−0.028%—$13.3M—as long as short
Bybit BNBUSDT+0.0079%8h804.40−0.066%$139.6M$81.7M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.54−0.049%$607K$881K50xas long as short
Lighter BNB+0.0096%1h805.01+0.010%$2.8M$4.2M20xas long as short
Aster BNBUSDT+0.0099%8h805.39+0.057%$6.4M$18.9M200xas long as short
Nado BNB-PERP+0.0100%1h804.45−0.060%$1.5M$2.8M20xas long as short
Pacifica BNB+0.0100%1h804.930.000%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h804.50−0.054%$55.2M$116.1M50xas long as short
Arcus BNB-USD+0.0100%1h805.00+0.008%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h804.50−0.054%$36.1M$59.2M75xas long as short
KuCoin BNBUSDTM+0.0100%8h804.59−0.043%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h804.37−0.070%$79.0M$24.8M75xas long as short
edgeX BNBUSDC+0.0100%4h804.74−0.024%$4.2M$76.4M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.70−0.029%$159K$436K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h804.62−0.039%$116K$873K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h804.73−0.025%$389K$592K50xas long as short
Derive BNB-PERP+0.0100%1h805.00+0.009%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h805.25+0.040%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h805.30+0.045%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h804.71−0.028%$8.2M$7.5M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h805.38+0.056%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h804.37−0.070%$1.9M$5.9M50xas long as short
Aevo BNB-PERPlong+0.0104%1h804.93long leg$387K$40K10x
MEXC BNB_USDT+0.0115%8h805.70+0.095%$84.6M$13.7M200xas long as short
Binance BNBUSDT+0.0116%8h805.46+0.066%$520.2M$806.2M75xas long as short
Phoenix BNBshort+0.0125%1h804.66−0.034%$173K$35K10x
Phemex BNBUSDT+0.0138%8h805.43+0.062%$70.3M$51.8M50xas long as short
SoDEX BNB-USD+0.0191%1h804.80−0.017%$396K$1.0M10xas long as short
Hyperliquid BNB+0.0198%1h805.18+0.031%$51.8M$22.0M10xas long as short
RISEx BNB/USDC+0.0209%1h804.91−0.003%$1.1M$1.4M20xas long as short
dYdX BNB-USD+0.0230%1h804.85−0.010%$170K$55K10xas long as short
BloFin BNB-USDT+0.0236%8h805.43+0.062%$18.9M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0256%1h804.10−0.103%$71K$48K12xas long as short
Bulk BNB-USD+0.0258%1h805.37+0.054%$651K$14K10xas long as short
Reya BNBRUSDPERP+0.0334%1h804.39−0.067%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0344%1h805.61+0.084%$28K$1K10xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89−0.005%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0655%1h805.81+0.109%$3.0M$5.5M40xas long as short