Funding you earn now, next payment 16:00 UTC−0.0098%/8h= −10.8% APRnext payment −$0.98 per $10,000 · paid last 24h −0.009%
Price spread now: Bybit against Orderly−0.081%50s7-day average −0.054% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.081%, 7d avg −0.054%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.028% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.054%). Swap the legs. The two prices were read 50 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 | Orderly PERP_BNB_USDC | 786.67 | 0.0100 | pay 0.0100% / 8h | 5h 27m | $264K | $297K | 50x |
| Short | Bybit BNBUSDT | 786.03 | 0.0002 | get 0.0002% / 8h | 5h 27m | $138.5M | $65.8M | 75x |
Orderly PERP_BNB_USDC
Bybit BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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
- −$20.68
- Price spread: −0.081% → −0.054%
- −$2.76
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$40.44
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 5 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 0.64 bp | 6.8 bp −$7 | 8.6 bp −$86 | 22.4 bp −$2,242 | 111.1 bp −$55.5K |
Orderly: 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 exchanges
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 | 786.63 | −0.005% | $43K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0086% | 1h | 786.51 | −0.020% | $2.5M | $1.2M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.94 | +0.161% | $4K | — | 25x | as long as short |
| Aster BNBUSDT | 0.0000% | 8h | 787.08 | +0.052% | $6.0M | $16.9M | 200x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 786.44 | −0.029% | $2.9M | $26.3M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 787.00 | +0.042% | $155K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.54 | +0.111% | $849K | $3.0M | 30x | as long as short |
| Deribit BNB_USDC-PERPETUAL | 0.0000% | 1h | 786.81 | +0.018% | $1.5M | $146K | 25x | as long as short |
| Bybit BNBUSDTshort | +0.0002% | 8h | 786.03 | −0.081% | $138.5M | $65.8M | 75x | |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 786.56 | −0.014% | $9.5M | — | 150x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Aster BNBUSDT
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
Deribit BNB_USDC-PERPETUAL
gTrade (Gains Network) BNB/USDShow all 45 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BNB-USDC | +0.0011% | 8h | 786.39 | −0.036% | — | $13.4M | — | as long as short |
| MEXC BNB_USDT | +0.0012% | 8h | 787.80 | +0.144% | $83.3M | $11.8M | 200x | as long as short |
| Binance BNBUSDT | +0.0012% | 8h | 787.09 | +0.053% | $480.7M | $759.7M | 75x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.342% | $19K | $789K | 30x | as long as short |
| BloFin BNB-USDT | +0.0050% | 8h | 787.12 | +0.057% | $18.5M | $2.2M | 75x | as long as short |
| Phemex BNBUSDT | +0.0085% | 8h | 787.23 | +0.071% | $68.4M | $50.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.48 | −0.024% | $2.7M | $3.3M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.14 | −0.068% | $1.4M | $2.3M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 786.91 | +0.031% | $51.8M | $16.9M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.56 | −0.014% | $1.2M | $930K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.30 | −0.047% | $53.3M | $101.2M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.80 | +0.017% | $57K | $122K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.35 | −0.041% | $41.6M | $54.2M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 786.19 | −0.061% | $28.2M | $9.6M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 786.11 | −0.071% | $75.7M | $31.0M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 787.10 | +0.055% | $2.2M | $6.0M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 785.47 | −0.153% | $4.3M | $4.4M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 787.00 | +0.042% | $4.1M | $72.0M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 786.93 | +0.033% | $158K | $460K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.50 | −0.022% | $128K | $905K | 10x | as long as short |
| Orderly PERP_BNB_USDClong | +0.0100% | 8h | 786.67 | long leg | $264K | $297K | 50x | |
| SunX BNB-USDT | +0.0100% | 8h | 787.17 | +0.063% | $12K | $1.3M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.80 | +0.017% | $387K | $926K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.78 | +0.014% | $8.0M | $9.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 786.75 | +0.010% | $78K | $899K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.90 | −0.097% | $1.8M | $5.6M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.42 | −0.031% | $378K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0120% | 1h | 786.99 | +0.041% | $158K | $45K | 10x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0120% | 1h | 787.08 | +0.052% | $548K | $1.9M | 50x | as long as short |
| 01 Exchange BNBUSD | +0.0208% | 1h | 787.05 | +0.048% | $28K | $3K | 10x | as long as short |
| Bulk BNB-USD | +0.0305% | 1h | 787.61 | +0.119% | $638K | $811 | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0316% | 1h | 786.18 | −0.062% | $6K | $3K | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0336% | 1h | 786.64 | −0.004% | $67K | $37K | 12x | as long as short |
| RISEx BNB/USDC | +0.0393% | 1h | 786.78 | +0.014% | $1.1M | $904K | 20x | as long as short |
| dYdX BNB-USD | +0.1175% | 1h | 786.11 | −0.071% | $158K | $34K | 10x | as long as short |
BingX BNB-USDC
MEXC BNB_USDT
Binance BNBUSDT
Injective BNB/USDC PERP
BloFin BNB-USDT
Phemex BNBUSDT
Lighter BNB
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Coinbase International BNB-PERP-INTX
01 Exchange BNBUSD
Bulk BNB-USD
Reya BNBRUSDPERP
Hibachi BNB/USDT-P
RISEx BNB/USDC
dYdX BNB-USD