Funding you earn now, next payment 02:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.019%
Price spread now: Deribit against Orderly+0.054%7-day average +0.012% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.103%+$10 on $10k
+Price spread, last 3 days (all we have)−0.041%−$4 · spread now +0.054%, 7d avg +0.012%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.041% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.012%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.103% in total (about 5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BNB_USDC | 791.90 | 0.0100 | pay 0.0100% / 8h | 6h 41m | $383K | $409K | 50x |
| Short | Deribit BNB_USDC-PERPETUAL | 792.32 | 0.0300 | get 0.0037% / 1h | 41m 21s | $1.6M | $161K | 25x |
Orderly PERP_BNB_USDC
Deribit BNB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $42.01
- Price spread: +0.054% → +0.012%
- $4.13
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $33.14
- Costs to cover
- 0.130%
- Break-even
- 1.5 days
Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 3 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 Deribit live order book, 3 min ago | 2.71 bp | 8.6 bp −$9 | 14.8 bp −$148 | doesn't fit | doesn't fit |
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 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 −0.0167% / S +0.0335% | 1h | 791.85 | −0.006% | $46K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0132% | 1h | 791.89 | −0.001% | $2.5M | $1.0M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 792.60 | +0.088% | $4K | $239 | 25x | as long as short |
| Gate BNB_USDT | −0.0005% | 8h | 791.80 | −0.013% | $35.3M | $55.5M | 75x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 794.21 | +0.292% | $859K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 791.90 | 0.000% | $9.7M | — | 150x | as long as short |
| GRVT BNB_USDT_Perp | +0.0011% | 8h | 793.23 | +0.168% | $3.0M | $28.4M | 10x | as long as short |
| Variational Omni BNB | +0.0016% | 8h | 791.83 | −0.009% | $4.1M | $5.0M | — | as long as short |
| Aster BNBUSDT | +0.0030% | 8h | 792.48 | +0.074% | $6.1M | $19.9M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.666% | $19K | $789K | 30x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Gate BNB_USDT
StandX BNB-USD
gTrade (Gains Network) BNB/USD
GRVT BNB_USDT_Perp
Variational Omni BNB
Aster BNBUSDT
Injective BNB/USDC PERPShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX BNB-USD | +0.0036% | 1h | 791.77 | −0.016% | $160K | $63K | 10x | as long as short |
| Phemex BNBUSDT | +0.0042% | 8h | 792.41 | +0.064% | $69.3M | $50.4M | 50x | as long as short |
| BingX BNB-USDT | +0.0049% | 8h | 792.08 | +0.023% | — | $35.0M | — | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0056% | 1h | 792.52 | +0.078% | $608K | $1.1M | 50x | as long as short |
| Binance BNBUSDT | +0.0061% | 8h | 792.52 | +0.078% | $492.7M | $816.3M | 75x | as long as short |
| MEXC BNB_USDT | +0.0061% | 8h | 792.80 | +0.114% | $82.2M | $12.7M | 200x | as long as short |
| Phoenix BNB | +0.0088% | 1h | 793.58 | +0.212% | $171K | $36K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 791.88 | −0.003% | $2.8M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDClong | +0.0100% | 8h | 791.90 | long leg | $383K | $409K | 50x | |
| Nado BNB-PERP | +0.0100% | 1h | 791.80 | −0.013% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 792.04 | +0.018% | $1.2M | $932K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 791.90 | 0.000% | $138.1M | $77.2M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 791.80 | −0.013% | $53.1M | $111.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 792.20 | +0.038% | $52K | $134K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 791.75 | −0.019% | $27.7M | $10.0M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 791.58 | −0.040% | $77.3M | $28.3M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 793.83 | +0.244% | $4.1M | $76.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 794.01 | +0.266% | $160K | $436K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 791.96 | +0.008% | $111K | $889K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 791.98 | +0.011% | $32K | $9K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 792.51 | +0.077% | $13K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 792.10 | +0.025% | $389K | $995K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 791.77 | −0.017% | $8.1M | $8.7M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 792.29 | +0.050% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 791.66 | −0.031% | $1.7M | $6.0M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 791.91 | +0.002% | $380K | $110K | 10x | as long as short |
| Hyperliquid BNB | +0.0124% | 1h | 792.71 | +0.102% | $52.5M | $19.9M | 10x | as long as short |
| RISEx BNB/USDC | +0.0131% | 1h | 792.24 | +0.042% | $1.1M | $1.4M | 20x | as long as short |
| Kalshi KXBNBPERP | +0.0161% | 8h | 792.60 | +0.088% | $111K | $2.8M | 4.8x | as long as short |
| Bulk BNB-USD | +0.0167% | 1h | 793.21 | +0.165% | $644K | $10K | 10x | as long as short |
| BloFin BNB-USDT | +0.0182% | 8h | 794.06 | +0.273% | $18.1M | $2.5M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0240% | 1h | 792.65 | +0.095% | $28K | $2K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUALshort | +0.0300% | 1h | 792.32 | +0.054% | $1.6M | $161K | 25x | |
| Reya BNBRUSDPERP | +0.0329% | 1h | 791.76 | −0.018% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0383% | 1h | 793.05 | +0.145% | $2.7M | $5.7M | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0496% | 1h | 792.34 | +0.056% | $68K | $38K | 12x | as long as short |
dYdX BNB-USD
Phemex BNBUSDT
BingX BNB-USDT
Coinbase International BNB-PERP-INTX
Binance BNBUSDT
MEXC BNB_USDT
Phoenix BNB
Lighter BNB
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
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
Hyperliquid BNB
RISEx BNB/USDC
Kalshi KXBNBPERP
Bulk BNB-USD
BloFin BNB-USDT
01 Exchange BNBUSD
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP
Hibachi BNB/USDT-P