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Funding arb · Price arb /

BNB

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h +0.006%
Price spread now: Phoenix against HTX+0.130%72s7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as 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−$420.424% of the position
Long on HTXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.178%+$18 on $10k
Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.130%, 7d avg +0.093%
Together, before fees+0.223%+$22 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.038% dearer against HTX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.093%. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHTX BNB-USDT786.770.0100pay 0.0100% / 8h1h 56m$8.0M$10.1M75x
ShortPhoenix BNB787.800.0107get 0.0013% / 1h56m 21s$169K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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
$1.39
Price spread: +0.130% → +0.093%
$3.77
Slippage, 4 orders
−$23.39
Fee HTX: 6 bp × 2 orders
−$12
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$37.22
Costs to cover
0.424%
Break-even
193.8 days
Slippage from HTX: live order book, 3 min ago; Phoenix: live order book, 45 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 HTX live order book, 3 min ago2.65 bp9.0 bp −$912.2 bp −$12247.0 bp −$4,697doesn't fit
Sell Phoenix live order book, 45 min ago1.02 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 −0.0192% / S +0.0356%1h786.74−0.004%$46K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h788.11+0.170%$4K$4225xas long as short
StandX BNB-USD0.0000%1h788.58+0.229%$850K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h786.77−0.001%$9.5M—150xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.328%$19K$789K30xas long as short
Aster BNBUSDT+0.0046%8h787.43+0.083%$6.1M$19.0M200xas long as short
BingX BNB-USDT+0.0054%8h787.12+0.044%—$22.2M—as long as short
MEXC BNB_USDT+0.0067%8h787.70+0.118%$80.9M$11.9M200xas long as short
Binance BNBUSDT+0.0068%8h787.40+0.079%$490.1M$815.9M75xas long as short
Phemex BNBUSDT+0.0070%8h787.22+0.057%$68.9M$51.0M50xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0080%1h788.38+0.204%$569K$1.9M50xas long as short
dYdX BNB-USD+0.0091%1h787.10+0.041%$159K$62K10xas long as short
Lighter BNB+0.0096%1h787.12+0.044%$2.7M$3.8M20xas long as short
Orderly PERP_BNB_USDC+0.0100%8h786.87+0.012%$265K$471K50xas long as short
Nado BNB-PERP+0.0100%1h786.90+0.016%$1.4M$2.7M20xas long as short
Pacifica BNB+0.0100%1h787.09+0.040%$1.2M$933K20xas long as short
Bybit BNBUSDT+0.0100%8h786.80+0.003%$138.4M$75.2M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h786.70−0.010%$53.5M$113.1M50xas long as short
Arcus BNB-USD+0.0100%1h787.20+0.054%$52K$129K10xas long as short
Gate BNB_USDT+0.0100%8h786.90+0.016%$37.0M$58.6M75xas long as short
KuCoin BNBUSDTM+0.0100%8h786.63−0.018%$27.7M$10.2M75xas long as short
Bitget BNBUSDT+0.0100%8h786.61−0.021%$76.2M$31.1M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h787.44+0.085%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h787.80+0.131%$4.0M$4.8M—as long as short
edgeX BNBUSDC+0.0100%4h787.78+0.128%$4.1M$75.7M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h788.40+0.207%$159K$436K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h786.82+0.006%$131K$949K10xas long as short
Derive BNB-PERP+0.0100%1h786.91+0.017%$31K$12K10xas long as short
SunX BNB-USDT+0.0100%8h787.44+0.084%$12K$1.5M50xas long as short
SoDEX BNB-USD+0.0100%1h786.90+0.016%$387K$986K10xas long as short
HTX BNB-USDTlong+0.0100%8h786.77long leg$8.0M$10.1M75x
Paradex BNB-USD-PERP+0.0101%8h787.37+0.075%$76K$17K50xas long as short
Extended BNB-USD+0.0104%1h786.55−0.029%$1.8M$6.2M50xas long as short
Aevo BNB-PERP+0.0104%1h786.91+0.017%$378K$110K10xas long as short
Phoenix BNBshort+0.0107%1h787.80+0.130%$169K$35K10x
Kalshi KXBNBPERP+0.0136%8h787.60+0.105%$169K$2.7M4.8xas long as short
Hyperliquid BNB+0.0162%1h787.57+0.101%$51.5M$17.7M10xas long as short
BloFin BNB-USDT+0.0187%8h787.44+0.085%$17.7M$2.2M75xas long as short
Kraken Futures PF_BNBUSD+0.0206%1h786.67−0.013%$2.5M$1.2M50xas long as short
GRVT BNB_USDT_Perp+0.0225%8h788.63+0.236%$2.9M$29.6M10xas long as short
01 Exchange BNBUSD+0.0288%1h787.54+0.097%$28K$4K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0300%1h787.28+0.064%$1.5M$143K25xas long as short
Reya BNBRUSDPERP+0.0322%1h786.70−0.009%$6K$3K40xas long as short
Bulk BNB-USD+0.0339%1h788.57+0.228%$639K$4K10xas long as short
RISEx BNB/USDC+0.0438%1h787.27+0.063%$1.1M$910K20xas long as short
Hibachi BNB/USDT-P+0.0560%1h787.15+0.048%$67K$39K12xas long as short