Funding you earn now, next payment 06:00 UTC+0.0128%/8h= +14.0% APRnext payment +$0.16 per $10,000 · paid last 24h +0.034%
Price spread now: Phoenix against gTrade (Gains Network)+0.187%7-day average +0.086% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$285as in the Price arb table
costs, in and out, $10k−$2952.947% of the position
Funding, last 3 days (all we have)+0.153%+$15 on $10k
+Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.187%, 7d avg +0.086%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.101% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.086%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BNB/USD | 786.29 | L +0.0007% / S −0.0007% | pay 0.0001% / 1h | 1m 05s | $9.5M | — | 150x |
| Short | Phoenix BNB | 787.76 | 0.0135 | get 0.0017% / 1h | 1m 05s | $169K | $35K | 10x |
gTrade (Gains Network) BNB/USD
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against gTrade (Gains Network). 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
- $26.79
- Price spread: +0.187% → +0.086%
- $10.09
- Slippage, 4 orders
- −$277.75
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$257.87
- Costs to cover
- 2.947%
- Break-even
- 74.4 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; Phoenix: live order book, 35 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago | 130.01 bp | 135.0 bp −$135 | 135.0 bp −$1,350 | 416.8 bp −$41.7K | 2253.7 bp −$1.13M |
| Sell Phoenix live order book, 35 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 −0.0170% / S +0.0337% | 1h | 786.23 | −0.008% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 786.78 | +0.063% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.83 | +0.196% | $850K | $2.7M | 30x | as long as short |
| gTrade (Gains Network) BNB/USDlong | L +0.0007% / S −0.0007% | 1h | 786.29 | long leg | $9.5M | — | 150x | |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.391% | $19K | $789K | 30x | as long as short |
| BingX BNB-USDC | +0.0048% | 8h | 786.47 | +0.023% | — | $13.4M | — | as long as short |
| Aster BNBUSDT | +0.0048% | 8h | 786.76 | +0.060% | $6.1M | $18.8M | 200x | as long as short |
| Binance BNBUSDT | +0.0057% | 8h | 786.77 | +0.062% | $489.0M | $821.2M | 75x | as long as short |
| MEXC BNB_USDT | +0.0058% | 8h | 787.50 | +0.154% | $81.0M | $12.1M | 200x | as long as short |
| dYdX BNB-USD | +0.0064% | 1h | 786.64 | +0.045% | $159K | $62K | 10x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
Injective BNB/USDC PERP
BingX BNB-USDC
Aster BNBUSDT
Binance BNBUSDT
MEXC BNB_USDT
dYdX BNB-USDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0075% | 8h | 786.83 | +0.069% | $68.7M | $51.1M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 787.43 | +0.145% | $564K | $1.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.44 | +0.019% | $2.7M | $3.9M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.15 | −0.017% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 786.85 | +0.072% | $51.5M | $17.7M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.64 | +0.045% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 786.10 | −0.024% | $138.3M | $75.0M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.10 | −0.024% | $53.5M | $113.1M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.60 | +0.040% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.20 | −0.011% | $37.9M | $59.6M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 785.96 | −0.042% | $27.6M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.98 | −0.039% | $76.7M | $31.6M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 786.65 | +0.046% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 787.51 | +0.156% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 787.27 | +0.125% | $4.1M | $76.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.69 | +0.178% | $159K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.26 | −0.003% | $131K | $953K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 786.32 | +0.004% | $264K | $460K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 787.05 | +0.097% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.89 | +0.076% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.50 | +0.027% | $387K | $977K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.77 | +0.062% | $8.0M | $10.2M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 786.87 | +0.074% | $78K | $18K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.93 | −0.045% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.31 | +0.003% | $378K | $110K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0117% | 8h | 786.90 | +0.078% | $171K | $2.7M | 4.8x | as long as short |
| Phoenix BNBshort | +0.0135% | 1h | 787.76 | +0.187% | $169K | $35K | 10x | |
| BloFin BNB-USDT | +0.0177% | 8h | 786.92 | +0.081% | $17.7M | $2.2M | 75x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 786.73 | +0.056% | $1.5M | $145K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0206% | 1h | 786.23 | −0.008% | $2.5M | $1.2M | 50x | as long as short |
| Bulk BNB-USD | +0.0222% | 1h | 787.85 | +0.199% | $639K | $831 | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0227% | 8h | 787.38 | +0.139% | $2.9M | $28.6M | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0248% | 1h | 786.86 | +0.073% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0321% | 1h | 786.00 | −0.036% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0438% | 1h | 786.64 | +0.045% | $1.1M | $915K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0464% | 1h | 786.60 | +0.040% | $67K | $39K | 12x | as long as short |
Phemex BNBUSDT
Coinbase International BNB-PERP-INTX
Lighter BNB
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
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Kalshi KXBNBPERP
BloFin BNB-USDT
Deribit BNB_USDC-PERPETUAL
Kraken Futures PF_BNBUSD
Bulk BNB-USD
GRVT BNB_USDT_Perp
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P