Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

BNB

all BNB markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 07:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.007%
Price spread now: Phoenix against Kalshi+0.051%46s7-day average +0.058% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as 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−$420.424% of the position
Long on KalshiShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.340%+$34 on $10k
Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.051%, 7d avg +0.058%
Together, before fees+0.178%+$18 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.058%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.340%, so the current rate has only just turned against you. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXBNBPERP785.700.0110pay 0.0110% / 8h4h 35m$170K$2.7M4.8x
ShortPhoenix BNB786.100.0100get 0.0012% / 1h35m 18s$167K$35K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Kalshi. 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

Funding earned
−$2.17
Price spread: +0.051% → +0.058%
−$0.75
Slippage, 4 orders
−$25.36
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$45.29
Costs to cover
0.424%
Break-even
never at this rate
Slippage from Kalshi: live order book, 3 min ago; Phoenix: live order book, 61 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kalshi live order book, 3 min ago0.64 bp5.6 bp −$611.3 bp −$113doesn't fitdoesn't fit
Sell Phoenix live order book, 61 min ago1.02 bp12.4 bp −$1243.2 bp −$432doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0168% / S +0.0337%1h784.81−0.113%$43K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h785.18−0.066%$4K$4225xas long as short
Kraken Futures PF_BNBUSD−0.0050%1h784.88−0.104%$2.5M$1.2M50xas long as short
StandX BNB-USD0.0000%1h785.75+0.006%$847K$2.7M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h784.84−0.110%$9.5M—150xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.468%$19K$789K30xas long as short
Aster BNBUSDT+0.0041%8h785.34−0.046%$6.0M$18.9M200xas long as short
BingX BNB-USDT+0.0044%8h784.93−0.098%—$22.3M—as long as short
MEXC BNB_USDT+0.0052%8h786.00+0.038%$80.8M$11.9M200xas long as short
Binance BNBUSDT+0.0053%8h785.29−0.052%$488.0M$822.7M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX BNB-USD+0.0068%1h784.94−0.096%$159K$62K10xas long as short
Phemex BNBUSDT+0.0082%8h785.51−0.024%$68.6M$51.5M50xas long as short
Lighter BNB+0.0096%1h784.96−0.094%$2.7M$3.8M20xas long as short
Phoenix BNBshort+0.0100%1h786.10+0.051%$167K$35K10x
Nado BNB-PERP+0.0100%1h784.70−0.127%$1.3M$2.7M20xas long as short
Hyperliquid BNB+0.0100%1h785.49−0.027%$51.4M$17.7M10xas long as short
Pacifica BNB+0.0100%1h785.12−0.074%$1.2M$934K20xas long as short
Bybit BNBUSDT+0.0100%8h784.72−0.125%$138.1M$74.8M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h784.70−0.127%$53.4M$113.1M50xas long as short
Arcus BNB-USD+0.0100%1h785.10−0.076%$52K$129K10xas long as short
Gate BNB_USDT+0.0100%8h784.80−0.115%$38.3M$57.7M75xas long as short
KuCoin BNBUSDTM+0.0100%8h784.54−0.148%$27.6M$10.2M75xas long as short
Bitget BNBUSDT+0.0100%8h784.51−0.151%$76.0M$31.9M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h785.40−0.038%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h784.70−0.128%$4.0M$4.7M—as long as short
edgeX BNBUSDC+0.0100%4h785.78+0.010%$4.1M$76.2M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h785.94+0.031%$158K$437K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h784.70−0.127%$131K$953K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h784.86−0.107%$264K$422K50xas long as short
Derive BNB-PERP+0.0100%1h785.15−0.070%$31K$12K10xas long as short
SunX BNB-USDT+0.0100%8h785.28−0.054%$12K$1.5M50xas long as short
SoDEX BNB-USD+0.0100%1h785.10−0.076%$386K$972K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h785.20−0.063%$1.5M$145K25xas long as short
HTX BNB-USDT+0.0100%8h785.06−0.082%$8.0M$10.3M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h785.33−0.047%$78K$18K50xas long as short
Extended BNB-USD+0.0104%1h784.48−0.155%$1.8M$5.9M50xas long as short
Aevo BNB-PERP+0.0104%1h784.85−0.108%$377K$110K10xas long as short
Coinbase International BNB-PERP-INTX+0.0104%1h785.57−0.017%$554K$1.9M50xas long as short
Kalshi KXBNBPERPlong+0.0110%8h785.70long leg$170K$2.7M4.8x
BloFin BNB-USDT+0.0173%8h785.33−0.047%$17.7M$2.2M75xas long as short
Bulk BNB-USD+0.0201%1h786.50+0.102%$637K$83110xas long as short
GRVT BNB_USDT_Perp+0.0224%8h786.60+0.115%$2.9M$28.6M10xas long as short
01 Exchange BNBUSD+0.0256%1h785.32−0.048%$28K$4K10xas long as short
Reya BNBRUSDPERP+0.0321%1h784.53−0.149%$6K$3K40xas long as short
RISEx BNB/USDC+0.0350%1h785.09−0.078%$1.1M$906K20xas long as short
Hibachi BNB/USDT-P+0.0464%1h785.45−0.032%$67K$39K12xas long as short