BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0104%/8h= +11.4% APRnext payment +$0.13 per $10,000 · paid last 24h +0.041%

Price spread now: Bulk against Phoenix+0.050%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Phoenix Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.166%+$17 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.050%, 7d avg +0.016%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bulk is 0.035% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BNB	789.73	0.0117	pay 0.0015% / 1h	23m 35s	$170K	$35K	10x
Short	Bulk BNB-USD	790.13	0.0222	get 0.0028% / 1h	23m 35s	$640K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Phoenix. 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

Position, each leg$Hold fordaysFee PhoenixbpFee BulkbpOrdersPrice spread, now +0.050%Rate

Funding earned: $21.89
Price spread: +0.050% → +0.016%: $3.45
Slippage, 4 orders: −$18.09
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$6.75
Costs to cover: 0.321%
Break-even: 9.2 days

Slippage from Phoenix: live order book, 28 min ago; Bulk: live order book, 35 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 Phoenix live order book, 28 min ago	1.01 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Bulk live order book, 35 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	6.0 bp −$601	15.9 bp −$7,951

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 −0.0187% / S +0.0351%	1h	789.27	−0.058%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.89	+0.020%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.60	−0.016%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.29	−0.055%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.945%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0040%	8h	789.85	+0.015%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0052%	8h	789.58	−0.019%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	789.94	+0.027%	$69.1M	$49.9M	50x	as long as short
MEXC BNB_USDT	+0.0064%	8h	790.20	+0.060%	$80.2M	$12.4M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.035%	$582K	$1.9M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0064%	8h	789.77	+0.005%	$493.2M	$790.3M	75x	as long as short
Lighter BNB	+0.0096%	1h	789.48	−0.032%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.36	−0.047%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.25	−0.061%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.73	0.000%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.57	−0.020%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.20	−0.067%	$138.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	−0.080%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.40	−0.042%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.20	−0.067%	$35.5M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.22	−0.065%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.95	−0.099%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.72	−0.001%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.00	−0.092%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.89	+0.020%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.13	+0.051%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.05	−0.086%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.43	−0.038%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.96	+0.029%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.50	−0.029%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.38	−0.044%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.82	+0.011%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.89	−0.106%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.23	−0.063%	$379K	$110K	10x	as long as short
Phoenix BNBlong	+0.0117%	1h	789.73	long leg	$170K	$35K	10x
dYdX BNB-USD	+0.0131%	1h	789.35	−0.048%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0145%	8h	790.08	+0.044%	$2.9M	$28.5M	10x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	790.10	+0.047%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	790.17	+0.056%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USDshort	+0.0222%	1h	790.13	+0.050%	$640K	$9K	10x
01 Exchange BNBUSD	+0.0232%	1h	789.64	−0.011%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.28	−0.057%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.76	+0.004%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.95	−0.099%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	789.56	−0.021%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.48	−0.032%	$1.1M	$967K	20x	as long as short