Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.008%
Price spread now: Injective against Bybit+2.013%108s7-day average −0.220% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.070%−$7 on $10k
+Price spread, last 4 days (all we have)−2.536%−$254 · spread now +2.013%, 7d avg −0.220%
=The price spread pays, funding is against you. Injective is 2.234% dearer against Bybit than usual: you sell high and buy low (spread +2.013% now, against its 7-day average of −0.220%): +$223 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 7 days (−0.070% in total) that is about 7 months. The two prices were read 108 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 | Bybit BNBUSDT | 789.20 | 0.0100 | pay 0.0100% / 8h | 4h 23m | $138.8M | $74.5M | 75x |
| Short | Injective BNB/USDC PERP | 805.09 | 0.0033 | get 0.0004% / 1h | 23m 32s | $19K | $789K | 30x |
Bybit BNBUSDT
Injective BNB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- −$14
- Price spread: +2.013% → −0.220%
- $223.38
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $198.36
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 6 min ago; Injective: no order-book sample. 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 Bybit live order book, 6 min ago | 0.63 bp | 8.6 bp −$9 | 9.7 bp −$97 | 26.2 bp −$2,619 | 161.0 bp −$80.5K |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 −0.0187% / S +0.0351% | 1h | 789.27 | +0.009% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 789.89 | +0.087% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.60 | +0.051% | $852K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 789.29 | +0.012% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERPshort | +0.0033% | 1h | 805.09 | +2.013% | $19K | $789K | 30x | |
| Aster BNBUSDT | +0.0040% | 8h | 789.85 | +0.083% | $6.1M | $18.7M | 200x | as long as short |
| BingX BNB-USDC | +0.0052% | 8h | 789.58 | +0.048% | — | $13.4M | — | as long as short |
| Phemex BNBUSDT | +0.0063% | 8h | 789.94 | +0.094% | $69.1M | $49.9M | 50x | as long as short |
| MEXC BNB_USDT | +0.0064% | 8h | 790.20 | +0.127% | $80.2M | $12.4M | 200x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0064% | 1h | 789.45 | +0.032% | $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
Aster BNBUSDT
BingX BNB-USDC
Phemex BNBUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Binance BNBUSDT | +0.0064% | 8h | 789.77 | +0.072% | $493.2M | $790.3M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 789.48 | +0.035% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 789.36 | +0.020% | $266K | $492K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 789.25 | +0.006% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 789.73 | +0.067% | $51.8M | $17.5M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 789.57 | +0.047% | $1.2M | $931K | 20x | as long as short |
| Bybit BNBUSDTlong | +0.0100% | 8h | 789.20 | long leg | $138.8M | $74.5M | 75x | |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 789.10 | −0.013% | $53.4M | $111.2M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 789.40 | +0.025% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 789.20 | 0.000% | $35.5M | $57.3M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 789.22 | +0.003% | $27.7M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 788.95 | −0.032% | $76.3M | $30.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 789.72 | +0.066% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 789.00 | −0.025% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 789.89 | +0.087% | $4.1M | $73.2M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 790.13 | +0.118% | $159K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 789.05 | −0.019% | $133K | $950K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 789.43 | +0.029% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 789.96 | +0.097% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 789.50 | +0.038% | $388K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 789.38 | +0.023% | $8.1M | $9.5M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 789.82 | +0.078% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 788.89 | −0.039% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 789.23 | +0.004% | $379K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0117% | 1h | 789.73 | +0.067% | $170K | $35K | 10x | as long as short |
| dYdX BNB-USD | +0.0131% | 1h | 789.35 | +0.019% | $160K | $64K | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0145% | 8h | 790.08 | +0.112% | $2.9M | $28.5M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0178% | 8h | 790.10 | +0.114% | $126K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0185% | 8h | 790.17 | +0.123% | $18.1M | $2.2M | 75x | as long as short |
| Bulk BNB-USD | +0.0222% | 1h | 790.13 | +0.118% | $640K | $9K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0232% | 1h | 789.64 | +0.056% | $28K | $4K | 10x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0263% | 1h | 789.28 | +0.010% | $2.5M | $1.2M | 50x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 789.76 | +0.071% | $1.5M | $143K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0326% | 1h | 788.95 | −0.032% | $6K | $3K | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0416% | 1h | 789.56 | +0.046% | $67K | $38K | 12x | as long as short |
| RISEx BNB/USDC | +0.0461% | 1h | 789.48 | +0.035% | $1.1M | $967K | 20x | as long as short |
Binance BNBUSDT
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
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
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
Hibachi BNB/USDT-P
RISEx BNB/USDC