Funding you earn now, next payment 06:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.006%
Price spread now: Phoenix against Orderly+0.072%7-day average +0.051% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.177%+$18 on $10k
+Price spread, last 4 days (all we have)0.000%$0 · spread now +0.072%, 7d avg +0.051%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.021% dearer against Orderly than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.051%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BNB_USDC | 787.19 | 0.0100 | pay 0.0100% / 8h | 1h 04m | $265K | $470K | 50x |
| Short | Phoenix BNB | 787.76 | 0.0135 | get 0.0017% / 1h | 4m 49s | $169K | $35K | 10x |
Orderly PERP_BNB_USDC
Phoenix BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Orderly. 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
- $7.36
- Price spread: +0.072% → +0.051%
- $2.11
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$3.53
- Costs to cover
- 0.130%
- Break-even
- 10.4 days
Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 31 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 31 min ago | 1.02 bp | 12.4 bp −$12 | 43.2 bp −$432 | doesn't fit | doesn't fit |
Orderly: 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 −0.0170% / S +0.0337% | 1h | 787.09 | −0.013% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 788.02 | +0.105% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 788.25 | +0.135% | $850K | $2.7M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 787.17 | −0.003% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.274% | $19K | $789K | 30x | as long as short |
| BingX BNB-USDT | +0.0048% | 8h | 787.24 | +0.006% | — | $22.3M | — | as long as short |
| Aster BNBUSDT | +0.0050% | 8h | 787.66 | +0.059% | $6.1M | $18.8M | 200x | as long as short |
| MEXC BNB_USDT | +0.0059% | 8h | 788.40 | +0.154% | $81.1M | $12.1M | 200x | as long as short |
| Binance BNBUSDT | +0.0059% | 8h | 787.64 | +0.057% | $489.6M | $820.9M | 75x | as long as short |
| dYdX BNB-USD | +0.0061% | 1h | 787.30 | +0.014% | $160K | $62K | 10x | 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
BingX BNB-USDT
Aster BNBUSDT
MEXC BNB_USDT
Binance BNBUSDT
dYdX BNB-USDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0074% | 8h | 787.76 | +0.072% | $68.8M | $51.1M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 787.43 | +0.030% | $564K | $1.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 787.21 | +0.003% | $2.7M | $3.9M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 787.20 | +0.001% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 787.76 | +0.072% | $51.6M | $17.7M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 787.63 | +0.056% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 787.00 | −0.024% | $138.5M | $75.0M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.90 | −0.037% | $53.6M | $113.2M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.50 | +0.039% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 787.05 | −0.018% | $37.9M | $59.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 786.81 | −0.048% | $27.7M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 787.10 | −0.011% | $76.8M | $31.6M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 787.52 | +0.042% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 787.51 | +0.041% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 787.68 | +0.062% | $4.1M | $76.4M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.74 | +0.070% | $159K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 787.10 | −0.011% | $132K | $953K | 10x | as long as short |
| Orderly PERP_BNB_USDClong | +0.0100% | 8h | 787.19 | long leg | $265K | $470K | 50x | |
| Derive BNB-PERP | +0.0100% | 1h | 787.83 | +0.081% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 787.74 | +0.070% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 787.30 | +0.014% | $387K | $978K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 787.46 | +0.035% | $8.0M | $10.2M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 787.93 | +0.094% | $78K | $18K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 786.73 | −0.059% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 787.13 | −0.008% | $378K | $110K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0117% | 8h | 787.80 | +0.077% | $171K | $2.7M | 4.8x | as long as short |
| Phoenix BNBshort | +0.0135% | 1h | 787.76 | +0.072% | $169K | $35K | 10x | |
| BloFin BNB-USDT | +0.0179% | 8h | 787.77 | +0.074% | $17.7M | $2.2M | 75x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 787.53 | +0.044% | $1.5M | $145K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0206% | 1h | 787.07 | −0.016% | $2.5M | $1.2M | 50x | as long as short |
| Bulk BNB-USD | +0.0222% | 1h | 787.85 | +0.084% | $639K | $831 | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0228% | 8h | 787.96 | +0.098% | $2.9M | $29.3M | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0248% | 1h | 787.75 | +0.071% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0321% | 1h | 786.93 | −0.034% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0438% | 1h | 787.53 | +0.044% | $1.1M | $915K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0472% | 1h | 787.88 | +0.088% | $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
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