BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0057%/8h= −6.3% APRnext payment −$0.57 per $10,000 · paid last 24h −0.005%

Price spread now: Bybit against Phemex−0.134%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.158%+$16 · spread now −0.134%, 7d avg −0.098%

Together, before fees+0.157%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.036% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.098%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex BNBUSDT	804.88	0.0137	pay 0.0137% / 8h	2h 06m	$70.2M	$51.8M	50x
Short	Bybit BNBUSDT	803.80	0.0080	get 0.0080% / 8h	2h 06m	$139.5M	$81.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$12
Price spread: −0.134% → −0.098%: −$3.62
Slippage, 4 orders: −$5.37
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.99
Costs to cover: 0.284%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	0.06 bp	7.7 bp −$8	8.3 bp −$83	17.1 bp −$1,710	doesn't fit
Sell Bybit live order book, 3 min ago	0.62 bp	8.4 bp −$8	11.3 bp −$113	29.5 bp −$2,947	163.1 bp −$81.6K

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 −0.0195% / S +0.0371%	1h	804.33	−0.068%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.60	−0.035%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.17	+0.037%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.10	+0.027%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.76	−0.015%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.40	−0.059%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.15	−0.091%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	−0.031%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0056%	8h	804.26	−0.077%	—	$34.5M	—	as long as short
Bybit BNBUSDTshort	+0.0080%	8h	803.80	−0.134%	$139.5M	$81.7M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	+0.034%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.49	−0.049%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	804.88	0.000%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.23	−0.081%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.45	−0.053%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.00	−0.109%	$55.1M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.60	−0.035%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.05	−0.103%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.09	−0.098%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.86	−0.127%	$78.9M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.38	+0.062%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.81	−0.009%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.38	−0.062%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.38	−0.062%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.58	−0.037%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.05	+0.022%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.85	−0.004%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.90	+0.003%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.98	+0.012%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.81	−0.133%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.49	−0.048%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.10	+0.027%	$84.5M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	804.85	−0.004%	$520.0M	$805.5M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.092%	$173K	$35K	10x	as long as short
Phemex BNBUSDTlong	+0.0137%	8h	804.88	long leg	$70.2M	$51.8M	50x
SoDEX BNB-USD	+0.0191%	1h	804.30	−0.072%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0204%	1h	804.84	−0.005%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.54	−0.042%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0235%	1h	804.12	−0.094%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.16	+0.035%	$18.9M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	804.99	+0.014%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.061%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.08	−0.099%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.02	+0.017%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.001%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0650%	1h	805.27	+0.048%	$3.0M	$5.5M	40x	as long as short