BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0092%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h −0.037%

Price spread now: StandX against Phoenix+0.043%57s7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as 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−$450.451% of the position

Long on Phoenix Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.388%−$39 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.043%, 7d avg −0.027%

Together, before fees−0.468%+ Points / potential airdropStandX: Active · farm board−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. StandX is 0.070% dearer against Phoenix than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.027%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.388% in total) that is about 30 hours. The two prices were read 57 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	Phoenix BNB	788.22	0.0092	pay 0.0012% / 1h	20m 09s	$169K	$35K	10x
Short	StandX BNB-USD	788.56	0	get 0.0000% / 1h	20m 09s	$850K	$3.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$19.36
Price spread: +0.043% → −0.027%: $7.04
Slippage, 4 orders: −$30.06
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee StandX: 4 bp × 2 orders: −$8
Net: −$57.39
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from Phoenix: live order book, 26 min ago; StandX: 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 Phoenix live order book, 26 min ago	1.01 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell StandX live order book, 4 min ago	4.57 bp	11.4 bp −$11	14.3 bp −$143	54.5 bp −$5,451	doesn't fit

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 −0.0192% / S +0.0356%	1h	788.21	−0.001%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.08	−0.018%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.93	−0.037%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.90	+0.086%	$126K	$2.7M	4.8x	as long as short
StandX BNB-USDshort	0.0000%	1h	788.56	+0.043%	$850K	$3.1M	30x
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.26	+0.005%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0023%	8h	788.39	+0.022%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.140%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0036%	8h	788.01	−0.027%	—	$22.3M	—	as long as short
Binance BNBUSDT	+0.0043%	8h	788.49	+0.034%	$491.6M	$800.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0043%	8h	789.00	+0.099%	$80.0M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0044%	8h	788.62	+0.051%	$69.0M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	787.19	−0.131%	$588K	$1.9M	50x	as long as short
Phoenix BNBlong	+0.0092%	1h	788.22	long leg	$169K	$35K	10x
dYdX BNB-USD	+0.0093%	1h	787.87	−0.045%	$159K	$63K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.09	−0.017%	$2.7M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.33	+0.014%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	−0.028%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.34	+0.015%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.83	−0.049%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.79	−0.055%	$138.6M	$73.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.70	−0.066%	$53.5M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.30	+0.010%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.85	−0.047%	$36.0M	$57.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.87	−0.044%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.96	−0.033%	$76.3M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.34	+0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.102%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.22	−0.001%	$4.1M	$74.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.44	+0.028%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.16	−0.008%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.40	+0.023%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.85	+0.080%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.30	+0.010%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.16	−0.007%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.36	+0.017%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.84	−0.049%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.29	+0.009%	$379K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0163%	8h	788.23	+0.001%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0174%	8h	788.49	+0.034%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0193%	1h	788.28	+0.008%	$638K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	788.79	+0.072%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.77	+0.070%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	788.00	−0.028%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	787.79	−0.054%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.50	+0.035%	$1.1M	$893K	20x	as long as short