Funding you earn now, next payment 22:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.008%
Price spread now: Derive against Phemex−0.043%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Derive is 0.043% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BNBUSDT | 804.71 | 0.0138 | pay 0.0138% / 8h | 2h 04m | $70.2M | $51.8M | 50x |
| Short | Derive BNB-PERP | 804.36 | 0.0100 | get 0.0013% / 1h | 4m 56s | $32K | $5K | 10x |
Phemex BNBUSDT
Derive BNB-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- −$7.94
- Price spread: −0.043% → 0.000%
- −$4.35
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$30.28
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; Derive: no order-book sample. 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 Phemex live order book, 4 min ago | 0.06 bp | 7.7 bp −$8 | 8.3 bp −$83 | 17.1 bp −$1,710 | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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 −0.0195% / S +0.0371% | 1h | 804.05 | −0.082% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 804.62 | −0.011% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 805.17 | +0.058% | $3.0M | $29.5M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 804.80 | +0.011% | $114K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 804.28 | −0.053% | $869K | $2.8M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 804.07 | −0.079% | $9.8M | — | 150x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0038% | 1h | 804.15 | −0.070% | $2.5M | $928K | 50x | as long as short |
| Variational Omni BNB | +0.0048% | 8h | 803.61 | −0.136% | $4.1M | $5.3M | — | as long as short |
| BingX BNB-USDC | +0.0056% | 8h | 804.38 | −0.041% | — | $13.3M | — | as long as short |
| Bybit BNBUSDT | +0.0080% | 8h | 803.70 | −0.126% | $139.5M | $81.7M | 75x | 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
Kraken Futures PF_BNBUSD
Variational Omni BNB
BingX BNB-USDC
Bybit BNBUSDTShow 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 | +0.055% | $608K | $880K | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 804.32 | −0.048% | $2.8M | $4.2M | 20x | as long as short |
| Aster BNBUSDT | +0.0098% | 8h | 804.75 | +0.005% | $6.4M | $18.8M | 200x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 803.80 | −0.113% | $1.5M | $2.8M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 804.36 | −0.043% | $1.2M | $924K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 803.90 | −0.101% | $55.1M | $116.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 804.60 | −0.014% | $53K | $170K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 803.95 | −0.094% | $36.1M | $59.2M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 803.98 | −0.091% | $28.1M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 803.59 | −0.139% | $78.9M | $24.8M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 805.38 | +0.083% | $4.2M | $76.4M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 804.72 | +0.001% | $159K | $436K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 804.01 | −0.087% | $116K | $873K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 804.15 | −0.070% | $389K | $592K | 50x | as long as short |
| Derive BNB-PERPshort | +0.0100% | 1h | 804.36 | −0.043% | $32K | $5K | 10x | |
| SunX BNB-USDT | +0.0100% | 8h | 804.70 | −0.002% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 804.20 | −0.063% | $8.2M | $7.5M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 804.82 | +0.014% | $79K | $19K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 803.72 | −0.123% | $1.9M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 804.28 | −0.053% | $386K | $40K | 10x | as long as short |
| Binance BNBUSDT | +0.0115% | 8h | 804.69 | −0.003% | $519.9M | $805.7M | 75x | as long as short |
| MEXC BNB_USDT | +0.0115% | 8h | 805.00 | +0.036% | $84.5M | $13.7M | 200x | as long as short |
| Phoenix BNB | +0.0125% | 1h | 805.62 | +0.113% | $173K | $35K | 10x | as long as short |
| Phemex BNBUSDTlong | +0.0138% | 8h | 804.71 | long leg | $70.2M | $51.8M | 50x | |
| SoDEX BNB-USD | +0.0190% | 1h | 804.20 | −0.063% | $396K | $1.0M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 804.65 | −0.008% | $1.6M | $165K | 25x | as long as short |
| Hyperliquid BNB | +0.0201% | 1h | 804.69 | −0.002% | $51.8M | $22.0M | 10x | as long as short |
| RISEx BNB/USDC | +0.0209% | 1h | 804.36 | −0.043% | $1.1M | $1.4M | 20x | as long as short |
| dYdX BNB-USD | +0.0232% | 1h | 804.12 | −0.073% | $170K | $55K | 10x | as long as short |
| BloFin BNB-USDT | +0.0235% | 8h | 804.75 | +0.005% | $18.9M | $3.1M | 75x | as long as short |
| Bulk BNB-USD | +0.0258% | 1h | 805.37 | +0.082% | $651K | $14K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0264% | 1h | 804.40 | −0.038% | $71K | $48K | 12x | as long as short |
| Reya BNBRUSDPERP | +0.0334% | 1h | 803.75 | −0.120% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0344% | 1h | 804.96 | +0.031% | $28K | $1K | 10x | as long as short |
| Injective BNB/USDC PERP | +0.0353% | 1h | 804.89 | +0.022% | $19K | $627K | 30x | as long as short |
| Backpack BNB_USDC_PERP | +0.0655% | 1h | 805.15 | +0.055% | $3.0M | $5.5M | 40x | as long as short |
Coinbase International BNB-PERP-INTX
Lighter BNB
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
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Binance BNBUSDT
MEXC BNB_USDT
Phoenix BNB
SoDEX BNB-USD
Deribit BNB_USDC-PERPETUAL
Hyperliquid BNB
RISEx BNB/USDC
dYdX BNB-USD
BloFin BNB-USDT
Bulk BNB-USD
Hibachi BNB/USDT-P
Reya BNBRUSDPERP
01 Exchange BNBUSD
Injective BNB/USDC PERP
Backpack BNB_USDC_PERP