BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0326%/8h= −35.7% APRnext payment −$0.41 per $10,000 · paid last 24h −0.023%

Price spread now: Phoenix against RISEx−0.123%50s7-day average +0.060% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.324% of the position

Long on RISEx Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.052%−$5 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.123%, 7d avg +0.060%

Together, before fees+0.172%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phoenix is 0.183% cheaper against RISEx than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.060%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.052% in total (about -5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.41 per $10,000. 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	RISEx BNB/USDC	788.84	0.0432	pay 0.0054% / 1h	4m 15s	$1.1M	$902K	20x
Short	Phoenix BNB	787.87	0.0107	get 0.0013% / 1h	4m 15s	$169K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against RISEx. 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 RISExbpFee PhoenixbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$68.41
Price spread: −0.123% → +0.060%: −$18.34
Slippage, 4 orders: −$19.42
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$119.17
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Phoenix: live order book, 37 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 RISEx live order book, 4 min ago	0.82 bp	3.8 bp −$4	8.5 bp −$85	doesn't fit	doesn't fit
Sell Phoenix live order book, 37 min ago	1.02 bp	12.4 bp −$12	43.2 bp −$432	doesn't fit	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	788.48	−0.045%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.88	+0.005%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.04	+0.025%	$851K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.51	−0.042%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.060%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0045%	8h	789.08	+0.030%	$6.1M	$19.1M	200x	as long as short
BingX BNB-USDC	+0.0050%	8h	788.71	−0.017%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	789.10	+0.033%	$69.0M	$50.8M	50x	as long as short
MEXC BNB_USDT	+0.0067%	8h	789.40	+0.071%	$81.0M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	788.98	+0.017%	$491.1M	$816.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	788.22	−0.079%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	788.38	−0.059%	$569K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.58	−0.033%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.61	−0.029%	$265K	$475K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.35	−0.062%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.28	+0.055%	$51.7M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.76	−0.010%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.32	−0.066%	$138.7M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.30	−0.069%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.80	−0.005%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.60	−0.031%	$36.9M	$59.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.30	−0.069%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.33	−0.065%	$76.3M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.95	+0.014%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.41	−0.055%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.54	−0.039%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.44	−0.051%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.48	−0.046%	$132K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.78	−0.007%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.10	+0.033%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.68	−0.020%	$8.1M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.87	+0.004%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.23	−0.078%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.64	−0.026%	$379K	$110K	10x	as long as short
Phoenix BNBshort	+0.0107%	1h	787.87	−0.123%	$169K	$35K	10x
SoDEX BNB-USD	+0.0116%	1h	788.60	−0.031%	$388K	$989K	10x	as long as short
dYdX BNB-USD	+0.0133%	1h	788.46	−0.049%	$160K	$62K	10x	as long as short
Kalshi KXBNBPERP	+0.0144%	8h	789.50	+0.083%	$163K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	789.06	+0.028%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0224%	8h	788.87	+0.003%	$2.9M	$29.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.00	+0.020%	$1.5M	$143K	25x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	789.26	+0.053%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	788.29	−0.070%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0378%	1h	788.15	−0.088%	$639K	$4K	10x	as long as short
RISEx BNB/USDClong	+0.0432%	1h	788.84	long leg	$1.1M	$902K	20x
Hibachi BNB/USDT-P	+0.0560%	1h	788.94	+0.013%	$68K	$39K	12x	as long as short