BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0134%/8h= −14.7% APRnext payment −$0.17 per $10,000 · paid last 24h −0.092%

Price spread now: Phoenix against dYdX+0.098%46s7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

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

costs, in and out, $10k−$680.681% of the position

Long on dYdX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 4 days (all we have)+0.327%+$33 · spread now +0.098%, 7d avg +0.085%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.085%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. 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	dYdX BNB-USD	788.30	0.0222	pay 0.0028% / 1h	54m 26s	$159K	$64K	10x
Short	Phoenix BNB	789.07	0.0088	get 0.0011% / 1h	54m 26s	$170K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against dYdX. 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 dYdXbpFee PhoenixbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$28.14
Price spread: +0.098% → +0.085%: $1.28
Slippage, 4 orders: −$51.12
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$94.98
Costs to cover: 0.681%
Break-even: never at this rate

Slippage from dYdX: live order book, 10 min ago; Phoenix: live order book, 2 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 dYdX live order book, 10 min ago	16.57 bp	21.7 bp −$22	36.4 bp −$364	71.0 bp −$7,100	395.5 bp −$197.8K
Sell Phoenix live order book, 2 min ago	1.01 bp	12.4 bp −$12	43.2 bp −$432	doesn't fit	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	788.93	+0.081%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.63	+0.042%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.38	+0.264%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.12	+0.105%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.130%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0035%	8h	788.84	+0.069%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.66	+0.173%	$619K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0054%	8h	789.18	+0.112%	—	$34.6M	—	as long as short
Phemex BNBUSDT	+0.0060%	8h	788.69	+0.050%	$69.0M	$50.8M	50x	as long as short
Variational Omni BNB	+0.0066%	8h	789.32	+0.130%	$4.1M	$4.8M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0069%	8h	789.40	+0.140%	$80.4M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0070%	8h	789.73	+0.182%	$494.5M	$808.8M	75x	as long as short
Gate BNB_USDT	+0.0078%	8h	789.05	+0.096%	$35.4M	$56.3M	75x	as long as short
Phoenix BNBshort	+0.0088%	1h	789.07	+0.098%	$170K	$35K	10x
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.29	+0.126%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.48	+0.023%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.33	+0.131%	$381K	$380K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.15	−0.019%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.05	+0.096%	$51.7M	$18.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.46	+0.021%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.20	+0.115%	$138.7M	$78.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.30	+0.127%	$53.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.60	+0.039%	$52K	$130K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.36	+0.008%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.22	+0.117%	$77.0M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.79	+0.063%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.30	+0.001%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.22	−0.010%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.60	+0.039%	$137K	$945K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.57	+0.162%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.77	+0.060%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.58	+0.036%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	788.99	+0.088%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.16	+0.110%	$1.8M	$5.9M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0104%	8h	788.27	−0.003%	$2.9M	$27.9M	10x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.43	+0.144%	$379K	$110K	10x	as long as short
SoDEX BNB-USD	+0.0142%	1h	789.50	+0.153%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	788.70	+0.051%	$91K	$2.8M	4.8x	as long as short
dYdX BNB-USDlong	+0.0222%	1h	788.30	long leg	$159K	$64K	10x
01 Exchange BNBUSD	+0.0320%	1h	789.00	+0.089%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.60	+0.038%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0340%	1h	789.39	+0.139%	$639K	$13K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.71	+0.052%	$1.1M	$1.1M	20x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.92	+0.206%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	789.41	+0.141%	$67K	$39K	12x	as long as short