BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0027%/8h= +2.9% APRnext payment +$0.03 per $10,000 · paid last 24h +0.010%

Price spread now: Phoenix against ApeX Omni−0.080%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 3 days (all we have)+0.103%+$10 · spread now −0.080%, 7d avg +0.019%

Together, before fees+0.285%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.099% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of +0.019%). If the spread goes back, that is −$10 on $10k: about 12 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.182% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BNBUSDT	799.21	0.0100	pay 0.0013% / 1h	19m 16s	$161K	$439K	50x
Short	Phoenix BNB	798.57	0.0127	get 0.0016% / 1h	19m 16s	$172K	$36K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now −0.080%Rate

Funding earned: $5.61
Price spread: −0.080% → +0.019%: −$9.91
Slippage, 4 orders: −$27.02
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$48.31
Costs to cover: 0.440%
Break-even: 67.2 days

Slippage from ApeX Omni: live order book, 58 min ago; Phoenix: live order book, 52 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 ApeX Omni live order book, 58 min ago	4.55 bp	9.6 bp −$10	38.4 bp −$384	doesn't fit	doesn't fit
Sell Phoenix live order book, 52 min ago	1.00 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 −0.0201% / S +0.0372%	1h	799.19	−0.002%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.11	−0.013%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.01	−0.025%	$2.5M	$970K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.68	−0.066%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.30	+0.011%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.16	−0.006%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0012%	8h	798.04	−0.146%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0035%	8h	799.14	−0.009%	—	$34.8M	—	as long as short
Bybit BNBUSDT	+0.0042%	8h	798.77	−0.055%	$138.6M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	799.89	+0.085%	$606K	$985K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0088%	8h	799.63	+0.053%	$6.2M	$19.1M	200x	as long as short
Lighter BNB	+0.0096%	1h	799.04	−0.021%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.83	−0.048%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.04	−0.021%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.90	−0.039%	$54.3M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.20	−0.001%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.90	−0.039%	$35.8M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.92	−0.036%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.92	−0.036%	$79.1M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.50	−0.088%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDTlong	+0.0100%	1h	799.21	long leg	$161K	$439K	50x
Polymarket Perps BNB-USD	+0.0100%	1h	798.93	−0.035%	$116K	$875K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.17	−0.005%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.33	+0.015%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.47	+0.032%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	+0.011%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.56	+0.044%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.98	−0.029%	$8.2M	$8.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.25	+0.005%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.68	−0.066%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.25	+0.004%	$384K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0108%	8h	799.63	+0.053%	$69.9M	$50.6M	50x	as long as short
Binance BNBUSDT	+0.0109%	8h	799.72	+0.064%	$498.4M	$818.4M	75x	as long as short
MEXC BNB_USDT	+0.0109%	8h	800.00	+0.099%	$83.1M	$13.6M	200x	as long as short
Phoenix BNBshort	+0.0127%	1h	798.57	−0.080%	$172K	$36K	10x
Kalshi KXBNBPERP	+0.0134%	8h	799.20	−0.001%	$89K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0176%	1h	798.81	−0.050%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0214%	1h	799.38	+0.021%	$649K	$17K	10x	as long as short
Hyperliquid BNB	+0.0216%	1h	799.90	+0.086%	$52.5M	$21.2M	10x	as long as short
BloFin BNB-USDT	+0.0229%	8h	798.85	−0.045%	$18.2M	$2.5M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.08	−0.017%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	799.67	+0.058%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.736%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.69	−0.065%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0358%	1h	798.70	−0.064%	$161K	$63K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	799.57	+0.045%	$2.7M	$5.7M	40x	as long as short