Funding you earn now, next payment 00:00 UTC−0.0002%/8h= −0.2% APRnext payment −$0.02 per $10,000 · paid last 24h +0.008%
Price spread now: Binance against Phemex−0.009%7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$240.238% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 3 days (all we have)+0.102%+$10 · spread now −0.009%, 7d avg +0.013%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.022% cheaper against Phemex than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.013%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BNBUSDT | 800.73 | 0.0119 | pay 0.0119% / 8h | 1h 14m | $70.0M | $51.8M | 50x |
| Short | Binance BNBUSDT | 800.66 | 0.0117 | get 0.0117% / 8h | 1h 14m | $502.9M | $817.9M | 75x |
Phemex BNBUSDT
Binance BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- −$0.4
- Price spread: −0.009% → +0.013%
- −$2.15
- Slippage, 4 orders
- −$1.84
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$26.4
- Costs to cover
- 0.238%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Binance: live order book, 15 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 Phemex live order book, 5 min ago | 0.06 bp | 7.6 bp −$8 | 8.7 bp −$87 | 12.9 bp −$1,293 | doesn't fit |
| Sell Binance live order book, 15 min ago | 0.06 bp | 5.1 bp −$5 | 8.0 bp −$80 | 22.5 bp −$2,249 | 32.1 bp −$16.0K |
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 −0.0201% / S +0.0372% | 1h | 800.09 | −0.079% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 800.55 | −0.022% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 800.94 | +0.026% | $3.0M | $29.4M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 800.90 | +0.021% | $147K | $2.8M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 800.90 | +0.021% | $866K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 800.17 | −0.070% | $9.7M | — | 150x | as long as short |
| Variational Omni BNB | +0.0035% | 8h | 799.95 | −0.097% | $4.1M | $5.3M | — | as long as short |
| BingX BNB-USDC | +0.0059% | 8h | 800.26 | −0.059% | — | $13.3M | — | as long as short |
| Bybit BNBUSDT | +0.0069% | 8h | 799.70 | −0.129% | $139.2M | $79.8M | 75x | as long as short |
| Lighter BNB | +0.0096% | 1h | 800.47 | −0.033% | $2.8M | $4.2M | 20x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDC
Bybit BNBUSDT
Lighter BNBShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International BNB-PERP-INTX | +0.0096% | 1h | 801.17 | +0.055% | $610K | $995K | 50x | as long as short |
| Aster BNBUSDT | +0.0097% | 8h | 800.75 | +0.002% | $6.3M | $19.0M | 200x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 799.87 | −0.108% | $1.4M | $2.8M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 800.38 | −0.044% | $1.2M | $926K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 799.80 | −0.116% | $54.6M | $115.5M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 800.50 | −0.029% | $53K | $151K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 799.90 | −0.104% | $35.7M | $58.6M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 799.99 | −0.092% | $28.0M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 799.73 | −0.125% | $80.8M | $26.6M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 801.22 | +0.061% | $4.2M | $77.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 800.94 | +0.026% | $161K | $443K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 800.11 | −0.077% | $121K | $877K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 800.14 | −0.074% | $387K | $527K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 800.31 | −0.052% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 800.77 | +0.005% | $13K | $1.7M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 800.30 | −0.054% | $393K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 800.55 | −0.022% | $8.2M | $7.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 800.76 | +0.003% | $78K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 799.57 | −0.145% | $1.8M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 800.20 | −0.066% | $384K | $40K | 10x | as long as short |
| Binance BNBUSDTshort | +0.0117% | 8h | 800.66 | −0.009% | $502.9M | $817.9M | 75x | |
| MEXC BNB_USDT | +0.0117% | 8h | 801.30 | +0.071% | $83.3M | $13.8M | 200x | as long as short |
| Phemex BNBUSDTlong | +0.0119% | 8h | 800.73 | long leg | $70.0M | $51.8M | 50x | |
| Phoenix BNB | +0.0155% | 1h | 801.63 | +0.112% | $172K | $35K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0192% | 1h | 800.13 | −0.076% | $71K | $48K | 12x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 800.54 | −0.023% | $1.6M | $165K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0207% | 1h | 800.11 | −0.078% | $2.6M | $971K | 50x | as long as short |
| BloFin BNB-USDT | +0.0237% | 8h | 800.50 | −0.029% | $18.3M | $2.5M | 75x | as long as short |
| Injective BNB/USDC PERP | +0.0311% | 1h | 805.09 | +0.545% | $19K | $789K | 30x | as long as short |
| dYdX BNB-USD | +0.0314% | 1h | 799.94 | −0.099% | $161K | $62K | 10x | as long as short |
| Bulk BNB-USD | +0.0314% | 1h | 802.70 | +0.246% | $652K | $21K | 10x | as long as short |
| Hyperliquid BNB | +0.0318% | 1h | 801.12 | +0.049% | $51.8M | $21.9M | 10x | as long as short |
| RISEx BNB/USDC | +0.0318% | 1h | 800.37 | −0.045% | $1.1M | $1.4M | 20x | as long as short |
| 01 Exchange BNBUSD | +0.0320% | 1h | 800.86 | +0.016% | $28K | $1K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0332% | 1h | 799.76 | −0.122% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERP | +0.0588% | 1h | 801.02 | +0.036% | $2.7M | $5.7M | 40x | as long as short |
Coinbase International BNB-PERP-INTX
Aster BNBUSDT
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
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
MEXC BNB_USDT
Phoenix BNB
Hibachi BNB/USDT-P
Deribit BNB_USDC-PERPETUAL
Kraken Futures PF_BNBUSD
BloFin BNB-USDT
Injective BNB/USDC PERP
dYdX BNB-USD
Bulk BNB-USD
Hyperliquid BNB
RISEx BNB/USDC
01 Exchange BNBUSD
Reya BNBRUSDPERP
Backpack BNB_USDC_PERP