BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0102%/8h= +11.1% APRnext payment +$0.13 per $10,000 · paid last 24h +0.007%

Price spread now: Phoenix against Injective−2.153%7-day average +0.241% · you buy dearer than you sell

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

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.318%+$32 on $10k

Price spread, last 4 days (all we have)+2.657%+$266 · spread now −2.153%, 7d avg +0.241%

Together, before fees+2.974%+$297 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 2.393% cheaper against Injective than usual: you would sell low and buy high (spread −2.153% now, against its 7-day average of +0.241%). If the spread goes back, that is −$239 on $10k: about 3 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0033	pay 0.0004% / 1h	3m 22s	$19K	$789K	30x
Short	Phoenix BNB	787.76	0.0135	get 0.0017% / 1h	3m 22s	$169K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee PhoenixbpOrdersPrice spread, now −2.153%Rate

Funding earned: $21.36
Price spread: −2.153% → +0.241%: −$239.32
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$224.98
Costs to cover: 0.070%
Break-even: 80.7 days

Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 33 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 Injective no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 33 min ago	1.02 bp	12.4 bp −$12	43.2 bp −$432	doesn't fit	doesn't fit

Injective: 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 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 −0.0170% / S +0.0337%	1h	786.50	−2.309%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.39	−2.199%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.83	−2.144%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.93	−2.256%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERPlong	+0.0033%	1h	805.09	long leg	$19K	$789K	30x
BingX BNB-USDT	+0.0048%	8h	786.93	−2.256%	—	$22.3M	—	as long as short
Aster BNBUSDT	+0.0049%	8h	787.22	−2.220%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0058%	8h	787.90	−2.135%	$81.0M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0058%	8h	787.12	−2.232%	$489.2M	$820.9M	75x	as long as short
dYdX BNB-USD	+0.0061%	1h	787.30	−2.209%	$160K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	787.59	−2.174%	$68.8M	$51.1M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.43	−2.194%	$564K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.18	−2.225%	$2.7M	$3.9M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.90	−2.259%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.32	−2.207%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.30	−2.210%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.56	−2.302%	$138.4M	$75.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−2.309%	$53.6M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.20	−2.222%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.70	−2.284%	$37.9M	$59.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.33	−2.330%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.49	−2.310%	$76.7M	$31.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.39	−2.199%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.51	−2.183%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.75	−2.153%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.69	−2.161%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.88	−2.262%	$132K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.65	−2.290%	$265K	$465K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.05	−2.241%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.54	−2.180%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.20	−2.222%	$387K	$978K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.39	−2.199%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.51	−2.183%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.68	−2.287%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.66	−2.289%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0118%	8h	787.60	−2.172%	$171K	$2.7M	4.8x	as long as short
Phoenix BNBshort	+0.0135%	1h	787.76	−2.153%	$169K	$35K	10x
BloFin BNB-USDT	+0.0179%	8h	787.77	−2.151%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.39	−2.199%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.86	−2.265%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0222%	1h	787.85	−2.142%	$639K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.98	−2.125%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	787.51	−2.184%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.35	−2.327%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.24	−2.217%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0472%	1h	787.28	−2.212%	$67K	$39K	12x	as long as short