Funding you earn now, next payment 23:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h −0.009%
Price spread now: Extended against Phoenix−0.195%7-day average −0.141% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$310.305% of the position
Funding, last 7 days−0.201%−$20 on $10k
+Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.195%, 7d avg −0.141%
=Together, before fees−0.186%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.054% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.141%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BNB | 800.12 | 0.0127 | pay 0.0016% / 1h | 26m 48s | $172K | $36K | 10x |
| Short | Extended BNB-USD | 798.56 | 0.0104 | get 0.0013% / 1h | 26m 48s | $1.8M | $6.5M | 50x |
Phoenix BNB
Extended BNB-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Phoenix. 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
- −$4.77
- Price spread: −0.195% → −0.141%
- −$5.41
- Slippage, 4 orders
- −$18.52
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$40.7
- Costs to cover
- 0.305%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 44 min ago; Extended: live order book, 2 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 Phoenix live order book, 44 min ago | 1.00 bp | 12.4 bp −$12 | 50.9 bp −$509 | doesn't fit | doesn't fit |
| Sell Extended live order book, 2 min ago | 0.06 bp | 3.2 bp −$3 | 5.0 bp −$50 | doesn't fit | doesn't fit |
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 | 798.93 | −0.148% | $47K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 799.35 | −0.096% | $4K | $1K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0074% | 1h | 798.90 | −0.153% | $2.5M | $972K | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 800.28 | +0.020% | $3.0M | $28.0M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 799.95 | −0.021% | $864K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 798.97 | −0.144% | $9.7M | — | 150x | as long as short |
| Variational Omni BNB | +0.0017% | 8h | 799.36 | −0.095% | $4.1M | $5.4M | — | as long as short |
| BingX BNB-USDT | +0.0038% | 8h | 799.04 | −0.135% | — | $34.8M | — | as long as short |
| Bybit BNBUSDT | +0.0045% | 8h | 798.50 | −0.202% | $138.5M | $77.0M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0072% | 1h | 799.89 | −0.029% | $606K | $989K | 50x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Variational Omni BNB
BingX BNB-USDT
Bybit BNBUSDT
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BNBUSDT | +0.0092% | 8h | 799.42 | −0.087% | $6.3M | $18.9M | 200x | as long as short |
| Lighter BNB | +0.0096% | 1h | 799.22 | −0.112% | $2.8M | $4.1M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 798.44 | −0.210% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 798.88 | −0.154% | $1.2M | $926K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 798.60 | −0.190% | $54.3M | $112.9M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 799.10 | −0.127% | $53K | $133K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 798.85 | −0.159% | $35.8M | $58.1M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 798.94 | −0.147% | $28.0M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 798.43 | −0.211% | $79.0M | $27.5M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 799.89 | −0.029% | $4.2M | $76.1M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 800.17 | +0.006% | $161K | $441K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 798.64 | −0.185% | $116K | $875K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 798.95 | −0.146% | $386K | $497K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 799.23 | −0.111% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 799.28 | −0.104% | $13K | $1.7M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 799.10 | −0.127% | $393K | $1.0M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0100% | 1h | 799.39 | −0.091% | $1.6M | $165K | 25x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 798.95 | −0.147% | $8.2M | $8.0M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 799.38 | −0.092% | $78K | $19K | 50x | as long as short |
| Extended BNB-USDshort | +0.0104% | 1h | 798.56 | −0.195% | $1.8M | $6.5M | 50x | |
| Aevo BNB-PERP | +0.0104% | 1h | 799.13 | −0.124% | $384K | $40K | 10x | as long as short |
| Phemex BNBUSDT | +0.0111% | 8h | 799.58 | −0.067% | $69.9M | $50.6M | 50x | as long as short |
| MEXC BNB_USDT | +0.0113% | 8h | 800.00 | −0.015% | $83.0M | $13.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0113% | 8h | 799.43 | −0.086% | $499.2M | $816.0M | 75x | as long as short |
| Kalshi KXBNBPERP | +0.0121% | 8h | 799.30 | −0.102% | $110K | $2.9M | 4.8x | as long as short |
| Phoenix BNBlong | +0.0127% | 1h | 800.12 | long leg | $172K | $36K | 10x | |
| Hibachi BNB/USDT-P | +0.0176% | 1h | 799.53 | −0.074% | $70K | $43K | 12x | as long as short |
| Hyperliquid BNB | +0.0179% | 1h | 799.50 | −0.077% | $51.8M | $21.1M | 10x | as long as short |
| BloFin BNB-USDT | +0.0233% | 8h | 799.57 | −0.069% | $18.3M | $2.5M | 75x | as long as short |
| Bulk BNB-USD | +0.0239% | 1h | 800.03 | −0.011% | $650K | $19K | 10x | as long as short |
| RISEx BNB/USDC | +0.0258% | 1h | 799.02 | −0.137% | $1.1M | $1.4M | 20x | as long as short |
| 01 Exchange BNBUSD | +0.0296% | 1h | 799.50 | −0.077% | $28K | $1K | 10x | as long as short |
| Injective BNB/USDC PERP | +0.0306% | 1h | 805.09 | +0.621% | $19K | $789K | 30x | as long as short |
| Reya BNBRUSDPERP | +0.0331% | 1h | 798.20 | −0.240% | $6K | $3K | 40x | as long as short |
| dYdX BNB-USD | +0.0387% | 1h | 799.32 | −0.100% | $161K | $62K | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0403% | 1h | 799.97 | −0.019% | $2.7M | $5.7M | 40x | as long as short |
Aster BNBUSDT
Lighter BNB
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
Deribit BNB_USDC-PERPETUAL
HTX BNB-USDT
Paradex BNB-USD-PERP
Aevo BNB-PERP
Phemex BNBUSDT
MEXC BNB_USDT
Binance BNBUSDT
Kalshi KXBNBPERP
Hibachi BNB/USDT-P
Hyperliquid BNB
BloFin BNB-USDT
Bulk BNB-USD
RISEx BNB/USDC
01 Exchange BNBUSD
Injective BNB/USDC PERP
Reya BNBRUSDPERP
dYdX BNB-USD
Backpack BNB_USDC_PERP