BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0013%/8h= +1.5% APRnext payment +$0.02 per $10,000 · paid last 24h +0.007%

Price spread now: Phoenix against Extended+0.086%48s7-day average +0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as 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−$310.310% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now +0.086%, 7d avg +0.140%

Together, before fees+0.359%+ Points / potential airdropExtended: Active · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.054% cheaper against Extended than usual: you would sell low and buy high (spread +0.086% now, against its 7-day average of +0.140%). If the spread goes back, that is −$5 on $10k: about 14 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.198% in total) that is about 46 hours. The two prices were read 48 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	Extended BNB-USD	789.05	0.0104	pay 0.0013% / 1h	22m 33s	$1.8M	$5.9M	50x
Short	Phoenix BNB	789.73	0.0117	get 0.0015% / 1h	22m 33s	$170K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Extended. 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 ExtendedbpFee PhoenixbpOrdersPrice spread, now +0.086%Rate

Funding earned: $2.79
Price spread: +0.086% → +0.140%: −$5.41
Slippage, 4 orders: −$18.97
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$33.59
Costs to cover: 0.310%
Break-even: 91.2 days

Slippage from Extended: live order book, 1 min ago; Phoenix: live order book, 29 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 Extended live order book, 1 min ago	0.06 bp	2.7 bp −$3	4.2 bp −$42	doesn't fit	doesn't fit
Sell Phoenix live order book, 29 min ago	1.01 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 −0.0187% / S +0.0351%	1h	789.21	+0.020%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.67	+0.079%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.60	+0.070%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.19	+0.018%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.033%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0039%	8h	789.77	+0.091%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0053%	8h	789.44	+0.050%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0063%	8h	789.94	+0.113%	$69.1M	$49.9M	50x	as long as short
Binance BNBUSDT	+0.0064%	8h	789.96	+0.115%	$492.9M	$790.2M	75x	as long as short
MEXC BNB_USDT	+0.0064%	8h	790.00	+0.121%	$80.2M	$12.4M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.051%	$582K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.28	+0.029%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.25	+0.026%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.25	+0.026%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.71	+0.084%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.49	+0.056%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.20	+0.019%	$138.8M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	+0.006%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.50	+0.057%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.35	+0.038%	$35.5M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.30	+0.032%	$27.8M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.98	−0.009%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.66	+0.077%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.00	−0.006%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.89	+0.107%	$4.1M	$73.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.13	+0.137%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.05	0.000%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.38	+0.042%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.70	+0.083%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.40	+0.045%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.38	+0.042%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.94	+0.113%	$77K	$17K	50x	as long as short
Extended BNB-USDlong	+0.0104%	1h	789.05	long leg	$1.8M	$5.9M	50x
Aevo BNB-PERP	+0.0104%	1h	789.26	+0.027%	$379K	$110K	10x	as long as short
Phoenix BNBshort	+0.0117%	1h	789.73	+0.086%	$170K	$35K	10x
dYdX BNB-USD	+0.0130%	1h	789.35	+0.038%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0145%	8h	790.08	+0.131%	$2.9M	$28.5M	10x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	789.80	+0.095%	$126K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0184%	8h	789.74	+0.088%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.137%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.96	+0.115%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.10	+0.007%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.68	+0.080%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.95	−0.013%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	789.56	+0.065%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.63	+0.074%	$1.1M	$967K	20x	as long as short