BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0200%/8h= +21.9% APRnext payment +$0.25 per $10,000 · paid last 24h +0.060%

Price spread now: Phoenix against Hotstuff+0.052%53s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.052% dearer against Hotstuff than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	Hotstuff BNB-PERP	787.94	−0.0080	get 0.0010% / 1h	0m 21s	$4K	—	25x
Short	Phoenix BNB	788.35	0.0120	get 0.0015% / 1h	0m 21s	$158K	$38K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hotstuff. 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 HotstuffbpFee PhoenixbpOrdersPrice spread, now +0.052%Rate

Funding earned: $42.05
Price spread: +0.052% → 0.000%: $5.2
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $35.25
Costs to cover: 0.120%
Break-even: 1.1 days

Slippage unknown: Hotstuff: no order-book sample; Phoenix: live order book, 26 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 26 min ago	1.02 bp	12.4 bp −$12	43.1 bp −$431	doesn't fit	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0166% / S +0.0336%	1h	787.50	−0.056%	$43K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	787.94	long leg	$4K	—	25x
Kraken Futures PF_BNBUSD	−0.0021%	1h	787.69	−0.032%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	788.32	+0.048%	$2.9M	$26.5M	10x	as long as short
StandX BNB-USD	0.0000%	1h	788.68	+0.094%	$851K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.53	−0.052%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0009%	8h	788.09	+0.019%	$6.0M	$17.7M	200x	as long as short
BingX BNB-USDT	+0.0023%	8h	787.76	−0.023%	—	$22.2M	—	as long as short
Binance BNBUSDT	+0.0027%	8h	788.08	+0.017%	$484.0M	$797.4M	75x	as long as short
MEXC BNB_USDT	+0.0028%	8h	789.50	+0.198%	$83.1M	$12.5M	200x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.177%	$19K	$789K	30x	as long as short
Phemex BNBUSDT	+0.0070%	8h	788.21	+0.034%	$68.6M	$51.4M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.70	−0.030%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.45	−0.062%	$1.4M	$2.5M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.20	+0.033%	$51.8M	$17.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.79	−0.019%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.41	−0.067%	$138.8M	$70.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.40	−0.069%	$53.7M	$107.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.70	−0.030%	$52K	$124K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.55	−0.049%	$39.9M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.31	−0.080%	$27.9M	$9.7M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.18	−0.096%	$75.7M	$32.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.99	+0.006%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.30	−0.081%	$4.3M	$4.9M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.37	+0.055%	$4.1M	$77.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.39	+0.057%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.52	−0.053%	$130K	$916K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.52	−0.053%	$264K	$304K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.28	+0.043%	$12K	$1.4M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.70	−0.030%	$387K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.60	−0.044%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.04	+0.013%	$78K	$247K	50x	as long as short
Kalshi KXBNBPERP	+0.0103%	8h	788.10	+0.020%	$161K	$2.6M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	787.13	−0.103%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.56	−0.049%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0112%	8h	788.42	+0.061%	$17.6M	$2.3M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.77	−0.022%	$550K	$2.0M	50x	as long as short
Phoenix BNBshort	+0.0120%	1h	788.35	+0.052%	$158K	$38K	10x
Bulk BNB-USD	+0.0150%	1h	788.74	+0.101%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.00	+0.007%	$1.5M	$138K	25x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	788.07	+0.016%	$28K	$3K	10x	as long as short
dYdX BNB-USD	+0.0307%	1h	787.36	−0.074%	$158K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0318%	1h	787.29	−0.083%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	787.83	−0.014%	$1.1M	$891K	20x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	787.67	−0.034%	$67K	$38K	12x	as long as short