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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0027%/8h= +2.9% APRpaid last 24h +0.010%
Price spread now: Phoenix against Gate+0.192%47s7-day average +0.100% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as 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−$440.444% of the position
Long on GateShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.246%+$25 on $10k
Price spread, last 3 days (all we have)−0.060%−$6 · spread now +0.192%, 7d avg +0.100%
Together, before fees+0.187%+$19 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.092% dearer against Gate than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.100%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate BNB_USDT801.550.0100pay 0.0100% / 8h42m 27s$35.9M$57.8M75x
ShortPhoenix BNB803.090.0127get 0.0016% / 1h42m 27s$173K$36K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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
$5.61
Price spread: +0.192% → +0.100%
$9.23
Slippage, 4 orders
−$22.44
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$29.59
Costs to cover
0.444%
Break-even
43.9 days
Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 29 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 Gate live order book, 1 min ago0.31 bp9.3 bp −$912.0 bp −$12028.4 bp −$2,84057.0 bp −$28.5K
Sell Phoenix live order book, 29 min ago1.00 bp12.4 bp −$1243.2 bp −$432doesn'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 −0.0201% / S +0.0372%1h801.70+0.019%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h802.12+0.071%$4K$1K25xas long as short
Kraken Futures PF_BNBUSD−0.0074%1h801.85+0.038%$2.6M$970K50xas long as short
GRVT BNB_USDT_Perp0.0000%8h803.47+0.239%$3.0M$28.0M10xas long as short
StandX BNB-USD0.0000%1h803.34+0.223%$868K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h801.76+0.027%$9.8M—150xas long as short
Variational Omni BNB+0.0027%8h802.45+0.112%$4.2M$5.4M—as long as short
BingX BNB-USDC+0.0052%8h802.31+0.095%—$13.3M—as long as short
Bybit BNBUSDT+0.0059%8h801.40−0.019%$139.1M$78.6M75xas long as short
Coinbase International BNB-PERP-INTX+0.0072%1h800.72−0.104%$607K$995K50xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter BNB+0.0096%1h801.91+0.045%$2.8M$4.1M20xas long as short
Nado BNB-PERP+0.0100%1h801.36−0.023%$1.4M$2.7M20xas long as short
Pacifica BNB+0.0100%1h802.05+0.063%$1.2M$926K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h801.40−0.019%$54.6M$113.4M50xas long as short
Arcus BNB-USD+0.0100%1h802.20+0.081%$53K$133K10xas long as short
Gate BNB_USDTlong+0.0100%8h801.55long leg$35.9M$57.8M75x
KuCoin BNBUSDTM+0.0100%8h801.550.000%$28.0M$10.3M75xas long as short
Bitget BNBUSDT+0.0100%8h801.48−0.009%$79.5M$27.4M75xas long as short
edgeX BNBUSDC+0.0100%4h803.59+0.255%$4.2M$77.8M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h803.34+0.223%$162K$442K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h801.61+0.007%$117K$875K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h802.21+0.082%$388K$497K50xas long as short
Derive BNB-PERP+0.0100%1h802.43+0.110%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h803.28+0.216%$13K$1.7M50xas long as short
SoDEX BNB-USD+0.0100%1h802.20+0.081%$394K$1.0M10xas long as short
HTX BNB-USDT+0.0100%8h802.26+0.089%$8.2M$8.0M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h802.40+0.107%$78K$19K50xas long as short
Aster BNBUSDT+0.0102%8h802.35+0.100%$6.4M$19.0M200xas long as short
Extended BNB-USD+0.0104%1h801.25−0.038%$1.9M$6.4M50xas long as short
Aevo BNB-PERP+0.0104%1h802.20+0.081%$385K$40K10xas long as short
Phemex BNBUSDT+0.0112%8h802.62+0.133%$70.2M$50.9M50xas long as short
Kalshi KXBNBPERP+0.0115%8h802.70+0.143%$110K$2.9M4.8xas long as short
Binance BNBUSDT+0.0123%8h802.28+0.091%$501.7M$817.1M75xas long as short
MEXC BNB_USDT+0.0124%8h802.60+0.131%$83.5M$13.5M200xas long as short
Phoenix BNBshort+0.0127%1h803.09+0.192%$173K$36K10x
Deribit BNB_USDC-PERPETUAL+0.0200%1h802.54+0.123%$1.6M$165K25xas long as short
Hyperliquid BNB+0.0223%1h802.47+0.115%$52.0M$21.4M10xas long as short
Hibachi BNB/USDT-P+0.0224%1h803.19+0.205%$71K$43K12xas long as short
BloFin BNB-USDT+0.0245%8h802.88+0.166%$18.2M$2.5M75xas long as short
RISEx BNB/USDC+0.0258%1h801.90+0.044%$1.1M$1.4M20xas long as short
Injective BNB/USDC PERP+0.0306%1h805.09+0.442%$19K$789K30xas long as short
Bulk BNB-USD+0.0309%1h803.58+0.253%$653K$20K10xas long as short
Reya BNBRUSDPERP+0.0332%1h801.24−0.038%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0352%1h802.40+0.106%$28K$1K10xas long as short
Backpack BNB_USDC_PERP+0.0367%1h802.77+0.152%$2.7M$5.7M40xas long as short
dYdX BNB-USD+0.0441%1h802.20+0.081%$162K$62K10xas long as short