Funding you earn now, next payment 04:00 UTC+0.0237%/8h= +25.9% APRpaid last 24h +0.018%
Price spread now: Deribit against Binance+0.015%7-day average −0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$290.293% of the position
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.015%, 7d avg −0.037%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.052% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.037%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.4% 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 | Binance BNBUSDT | 789.68 | 0.0063 | pay 0.0063% / 8h | 4h 21m | $492.8M | $790.2M | 75x |
| Short | Deribit BNB_USDC-PERPETUAL | 789.80 | 0.0300 | get 0.0037% / 1h | 21m 35s | $1.5M | $143K | 25x |
Binance BNBUSDT
Deribit BNB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Binance. 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
- $49.73
- Price spread: +0.015% → −0.037%
- $5.24
- Slippage, 4 orders
- −$12.34
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $25.62
- Costs to cover
- 0.293%
- Break-even
- 3.4 days
Slippage from Binance: live order book, 7 min ago; Deribit: live order book, 2 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 Binance live order book, 7 min ago | 0.06 bp | 5.1 bp −$5 | 5.2 bp −$52 | 17.3 bp −$1,726 | doesn't fit |
| Sell Deribit live order book, 2 min ago | 2.28 bp | 9.2 bp −$9 | 15.1 bp −$151 | 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 −0.0187% / S +0.0351% | 1h | 789.31 | −0.047% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 789.71 | +0.004% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.55 | −0.016% | $851K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 789.31 | −0.047% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.951% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0039% | 8h | 789.72 | +0.005% | $6.1M | $18.7M | 200x | as long as short |
| BingX BNB-USDC | +0.0052% | 8h | 789.20 | −0.061% | — | $13.4M | — | as long as short |
| MEXC BNB_USDT | +0.0063% | 8h | 790.10 | +0.053% | $80.2M | $12.4M | 200x | as long as short |
| Binance BNBUSDTlong | +0.0063% | 8h | 789.68 | long leg | $492.8M | $790.2M | 75x | |
| Coinbase International BNB-PERP-INTX | +0.0064% | 1h | 789.45 | −0.029% | $582K | $1.9M | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDC
MEXC BNB_USDT
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0065% | 8h | 789.78 | +0.013% | $69.1M | $50.0M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 789.27 | −0.052% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 789.40 | −0.035% | $266K | $492K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 789.20 | −0.061% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 789.76 | +0.010% | $51.8M | $17.5M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 789.39 | −0.037% | $1.2M | $931K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 789.00 | −0.086% | $138.8M | $74.6M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 788.90 | −0.099% | $53.4M | $111.2M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 789.30 | −0.048% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 789.15 | −0.067% | $35.5M | $57.4M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 789.15 | −0.067% | $27.9M | $10.4M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 788.84 | −0.106% | $76.3M | $30.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 789.44 | −0.030% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 789.00 | −0.086% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 789.71 | +0.003% | $4.1M | $73.3M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 790.13 | +0.057% | $159K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 788.97 | −0.090% | $133K | $950K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 789.55 | −0.016% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 789.97 | +0.036% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 789.50 | −0.023% | $388K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 789.38 | −0.038% | $8.1M | $9.5M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 789.83 | +0.019% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 788.69 | −0.125% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 789.32 | −0.046% | $379K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0117% | 1h | 789.49 | −0.024% | $170K | $35K | 10x | as long as short |
| dYdX BNB-USD | +0.0128% | 1h | 789.35 | −0.042% | $160K | $64K | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0148% | 8h | 789.97 | +0.036% | $2.9M | $28.6M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0178% | 8h | 789.80 | +0.015% | $126K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0184% | 8h | 789.74 | +0.008% | $18.1M | $2.2M | 75x | as long as short |
| Bulk BNB-USD | +0.0222% | 1h | 790.13 | +0.057% | $640K | $9K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0232% | 1h | 789.63 | −0.006% | $28K | $4K | 10x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0263% | 1h | 789.04 | −0.081% | $2.5M | $1.2M | 50x | as long as short |
| Deribit BNB_USDC-PERPETUALshort | +0.0300% | 1h | 789.80 | +0.015% | $1.5M | $143K | 25x | |
| Reya BNBRUSDPERP | +0.0326% | 1h | 788.90 | −0.099% | $6K | $3K | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0408% | 1h | 789.50 | −0.022% | $67K | $38K | 12x | as long as short |
| RISEx BNB/USDC | +0.0461% | 1h | 789.42 | −0.033% | $1.1M | $967K | 20x | as long as short |
Phemex BNBUSDT
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
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
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
dYdX BNB-USD
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
BloFin BNB-USDT
Bulk BNB-USD
01 Exchange BNBUSD
Kraken Futures PF_BNBUSD
Reya BNBRUSDPERP
Hibachi BNB/USDT-P
RISEx BNB/USDC