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Funding arb · Price arb /

BNB

all BNB markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0276%/8h= +30.2% APRnext payment +$0.35 per $10,000 · paid last 24h +0.041%
Price spread now: Bulk against Phoenix−0.051%7-day average +0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$320.319% of the position
Long on PhoenixShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.163%+$16 on $10k
Price spread, last 4 days (all we have)−0.128%−$13 · spread now −0.051%, 7d avg +0.016%
Together, before fees+0.035%+$3 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bulk is 0.067% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.016%). If the spread goes back, that is −$7 on $10k: about 19 hours of funding at the current rate (+$8 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix BNB790.190.0107pay 0.0013% / 1h33m 15s$170K$35K10x
ShortBulk BNB-USD789.790.0383get 0.0048% / 1h33m 15s$640K$6K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Phoenix. 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
$57.97
Price spread: −0.051% → +0.016%
−$6.66
Slippage, 4 orders
−$17.95
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$19.36
Costs to cover
0.319%
Break-even
4.7 days
Slippage from Phoenix: live order book, 23 min ago; Bulk: live order book, 31 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 Phoenix live order book, 23 min ago1.01 bp12.4 bp −$1250.9 bp −$509doesn't fitdoesn't fit
Sell Bulk live order book, 31 min ago0.06 bp3.6 bp −$43.6 bp −$366.6 bp −$66117.8 bp −$8,922

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 −0.0167% / S +0.0335%1h789.96−0.029%$46K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h790.32+0.016%$4K$23925xas long as short
StandX BNB-USD0.0000%1h790.23+0.005%$854K$3.2M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h789.99−0.026%$9.6M—150xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+1.886%$19K$789K30xas long as short
Aster BNBUSDT+0.0046%8h790.56+0.047%$6.3M$18.7M200xas long as short
Coinbase International BNB-PERP-INTX+0.0048%1h789.79−0.051%$617K$1.8M50xas long as short
BingX BNB-USDT+0.0059%8h790.26+0.009%—$34.3M—as long as short
MEXC BNB_USDT+0.0074%8h791.10+0.115%$80.4M$12.4M200xas long as short
Binance BNBUSDT+0.0075%8h790.71+0.066%$494.3M$804.4M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex BNBUSDT+0.0075%8h790.69+0.063%$69.2M$51.1M50xas long as short
Variational Omni BNB+0.0091%8h788.80−0.176%$4.1M$4.6M—as long as short
Kraken Futures PF_BNBUSD+0.0091%1h790.09−0.013%$2.5M$1.2M50xas long as short
Lighter BNB+0.0096%1h790.31+0.015%$2.8M$3.9M20xas long as short
Orderly PERP_BNB_USDC+0.0100%8h790.07−0.015%$266K$497K50xas long as short
Nado BNB-PERP+0.0100%1h789.85−0.043%$1.5M$2.6M20xas long as short
Hyperliquid BNB+0.0100%1h790.68+0.062%$51.8M$18.1M10xas long as short
Pacifica BNB+0.0100%1h790.14−0.006%$1.2M$908K20xas long as short
Bybit BNBUSDT+0.0100%8h790.10−0.011%$138.9M$77.2M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h790.10−0.011%$53.6M$112.3M50xas long as short
Arcus BNB-USD+0.0100%1h790.10−0.011%$52K$130K10xas long as short
Gate BNB_USDT+0.0100%8h790.00−0.024%$35.3M$56.9M75xas long as short
KuCoin BNBUSDTM+0.0100%8h789.89−0.038%$27.8M$10.3M75xas long as short
Bitget BNBUSDT+0.0100%8h789.93−0.033%$77.0M$30.1M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h790.41+0.028%$2.2M$6.1M40xas long as short
edgeX BNBUSDC+0.0100%4h789.67−0.065%$4.1M$76.7M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h790.01−0.023%$159K$440K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h789.93−0.033%$135K$948K10xas long as short
Derive BNB-PERP+0.0100%1h790.28+0.011%$31K$12K10xas long as short
SunX BNB-USDT+0.0100%8h790.74+0.069%$12K$1.6M50xas long as short
HTX BNB-USDT+0.0100%8h789.37−0.104%$8.1M$9.1M75xas long as short
Paradex BNB-USD-PERP+0.0103%8h790.58+0.050%$77K$17K50xas long as short
Extended BNB-USD+0.0104%1h789.83−0.046%$1.8M$5.9M50xas long as short
Aevo BNB-PERP+0.0104%1h790.08−0.014%$380K$110K10xas long as short
Phoenix BNBlong+0.0107%1h790.19long leg$170K$35K10x
SoDEX BNB-USD+0.0135%1h790.20+0.001%$388K$1.0M10xas long as short
GRVT BNB_USDT_Perp+0.0140%8h789.95−0.030%$2.9M$28.2M10xas long as short
Kalshi KXBNBPERP+0.0193%8h790.30+0.014%$92K$2.8M4.8xas long as short
BloFin BNB-USDT+0.0195%8h790.51+0.040%$18.2M$2.3M75xas long as short
dYdX BNB-USD+0.0231%1h789.58−0.077%$160K$63K10xas long as short
01 Exchange BNBUSD+0.0296%1h790.53+0.043%$28K$4K10xas long as short
Reya BNBRUSDPERP+0.0327%1h789.89−0.037%$6K$3K40xas long as short
RISEx BNB/USDC+0.0361%1h790.24+0.006%$1.1M$1.0M20xas long as short
Bulk BNB-USDshort+0.0383%1h789.79−0.051%$640K$6K10x
Deribit BNB_USDC-PERPETUAL+0.0400%1h790.55+0.045%$1.5M$147K25xas long as short
Hibachi BNB/USDT-P+0.0592%1h789.79−0.051%$67K$38K12xas long as short