Funding you earn now, next payment 08:00 UTC−0.0057%/8h= −6.3% APRnext payment −$0.57 per $10,000 · paid last 24h −0.004%
Price spread now: Phemex against OKX+0.458%53s7-day average +0.095% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as 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−$260.259% of the position
Funding, last 7 days−0.053%−$5 on $10k
+Price spread, last 3 days (all we have)−0.405%−$40 · spread now +0.458%, 7d avg +0.095%
=The price spread pays, funding is against you. Phemex is 0.364% dearer against OKX than usual: you sell high and buy low (spread +0.458% now, against its 7-day average of +0.095%): +$36 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 21 days. At the pace of the last 7 days (−0.053% in total) that is about 48 days. 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 | OKX BNB-USDT-SWAP | 787.50 | 0.0100 | pay 0.0100% / 8h | 6h 15m | $53.4M | $113.4M | 50x |
| Short | Phemex BNBUSDT | 791.11 | 0.0043 | get 0.0043% / 8h | 6h 15m | $69.2M | $50.7M | 50x |
OKX BNB-USDT-SWAP
Phemex BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$12.04
- Price spread: +0.458% → +0.095%
- $36.36
- Slippage, 4 orders
- −$3.87
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$1.55
- Costs to cover
- 0.259%
- Break-even
- from the start
Slippage from OKX: live order book, 4 min ago; Phemex: live order book, 4 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 OKX live order book, 4 min ago | 0.63 bp | 6.8 bp −$7 | 9.1 bp −$91 | 21.8 bp −$2,175 | doesn't fit |
| Sell Phemex live order book, 4 min ago | 0.06 bp | 6.5 bp −$7 | 7.6 bp −$76 | 13.0 bp −$1,296 | 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 | 787.55 | +0.006% | $46K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0133% | 1h | 787.92 | +0.053% | $2.5M | $1.1M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.19 | −0.039% | $4K | $239 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 793.90 | +0.813% | $858K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 787.63 | +0.016% | $9.6M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0025% | 8h | 787.30 | −0.026% | $6.0M | $20.0M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.234% | $19K | $789K | 30x | as long as short |
| Gate BNB_USDT | +0.0038% | 8h | 787.75 | +0.032% | $35.1M | $57.2M | 75x | as long as short |
| Phemex BNBUSDTshort | +0.0043% | 8h | 791.11 | +0.458% | $69.2M | $50.7M | 50x | |
| Variational Omni BNB | +0.0044% | 8h | 790.50 | +0.381% | $4.1M | $4.9M | — | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
Injective BNB/USDC PERP
Gate BNB_USDT
Variational Omni BNBShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BNB-USDT | +0.0050% | 8h | 787.82 | +0.041% | — | $34.9M | — | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0056% | 1h | 786.59 | −0.116% | $618K | $1.8M | 50x | as long as short |
| MEXC BNB_USDT | +0.0062% | 8h | 787.80 | +0.038% | $80.1M | $13.1M | 200x | as long as short |
| Binance BNBUSDT | +0.0062% | 8h | 788.32 | +0.104% | $490.4M | $823.7M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0069% | 8h | 793.89 | +0.812% | $3.0M | $28.4M | 10x | as long as short |
| dYdX BNB-USD | +0.0083% | 1h | 786.74 | −0.096% | $159K | $63K | 10x | as long as short |
| Phoenix BNB | +0.0088% | 1h | 794.20 | +0.851% | $171K | $36K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.61 | −0.113% | $2.7M | $4.0M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 787.61 | +0.014% | $381K | $409K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 787.08 | −0.053% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 788.03 | +0.067% | $51.6M | $19.4M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.72 | −0.100% | $1.2M | $915K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 787.60 | +0.013% | $138.9M | $79.3M | 75x | as long as short |
| OKX BNB-USDT-SWAPlong | +0.0100% | 8h | 787.50 | long leg | $53.4M | $113.4M | 50x | |
| Arcus BNB-USD | +0.0100% | 1h | 787.70 | +0.025% | $52K | $135K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 787.49 | −0.001% | $27.5M | $10.1M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 787.76 | +0.033% | $77.6M | $29.9M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 793.72 | +0.789% | $4.1M | $76.9M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 793.68 | +0.785% | $160K | $435K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 787.42 | −0.010% | $137K | $951K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 787.81 | +0.040% | $31K | $9K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.56 | −0.119% | $12K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 788.00 | +0.063% | $387K | $996K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 790.32 | +0.358% | $8.1M | $8.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 787.73 | +0.029% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 787.41 | −0.011% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 788.15 | +0.082% | $379K | $110K | 10x | as long as short |
| RISEx BNB/USDC | +0.0131% | 1h | 787.42 | −0.010% | $1.1M | $1.1M | 20x | as long as short |
| Kalshi KXBNBPERP | +0.0154% | 8h | 792.00 | +0.571% | $92K | $2.9M | 4.8x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 788.08 | +0.073% | $1.5M | $160K | 25x | as long as short |
| Bulk BNB-USD | +0.0244% | 1h | 794.01 | +0.827% | $643K | $13K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0256% | 1h | 787.77 | +0.034% | $28K | $3K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0328% | 1h | 787.23 | −0.034% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0394% | 1h | 789.67 | +0.276% | $2.7M | $5.7M | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0536% | 1h | 793.63 | +0.778% | $68K | $38K | 12x | as long as short |
BingX BNB-USDT
Coinbase International BNB-PERP-INTX
MEXC BNB_USDT
Binance BNBUSDT
GRVT BNB_USDT_Perp
dYdX BNB-USD
Phoenix BNB
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
RISEx BNB/USDC
Kalshi KXBNBPERP
Deribit BNB_USDC-PERPETUAL
Bulk BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP
Hibachi BNB/USDT-P