BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.19 per $10,000 · paid last 24h −0.005%

Price spread now: Kraken Futures against Phoenix−0.077%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$460.462% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.271%−$27 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.077%, 7d avg −0.088%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.088%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BNB	785.66	0.0100	pay 0.0012% / 1h	13m 10s	$158K	$35K	10x
Short	Kraken Futures PF_BNBUSD	785.05	−0.0050	pay 0.0006% / 1h	13m 10s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Position, each leg$Hold fordaysFee PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$31.47
Price spread: −0.077% → −0.088%: $1.03
Slippage, 4 orders: −$29.19
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$76.64
Costs to cover: 0.462%
Break-even: never at this rate

Slippage from Phoenix: live order book, 18 min ago; Kraken Futures: live order book, just now.

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, 18 min ago	1.02 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Kraken Futures live order book, just now	3.12 bp	11.7 bp −$12	15.2 bp −$152	30.2 bp −$3,023	84.0 bp −$42.0K

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 −0.0168% / S +0.0337%	1h	784.52	−0.145%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.94	−0.092%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0050%	1h	785.05	−0.077%	$2.5M	$1.2M	50x
Kalshi KXBNBPERP	0.0000%	8h	785.70	+0.005%	$170K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.34	−0.041%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.16	−0.063%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	785.69	+0.003%	$6.0M	$18.7M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.473%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0038%	8h	785.36	−0.038%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	786.30	+0.081%	$80.9M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0048%	8h	785.61	−0.006%	$488.4M	$814.1M	75x	as long as short
Phemex BNBUSDT	+0.0076%	8h	785.71	+0.006%	$68.6M	$51.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.28	−0.048%	$2.7M	$3.8M	20x	as long as short
Phoenix BNBlong	+0.0100%	1h	785.66	long leg	$158K	$35K	10x
Nado BNB-PERP	+0.0100%	1h	784.90	−0.097%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.73	+0.009%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.45	−0.027%	$1.2M	$938K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.83	−0.106%	$138.1M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.80	−0.109%	$53.4M	$111.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.40	−0.033%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.15	−0.065%	$38.3M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.83	−0.106%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.78	−0.112%	$75.3M	$32.5M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.52	−0.018%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.43	−0.157%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.04	−0.079%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.13	−0.067%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.07	−0.075%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.20	−0.059%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.17	−0.063%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.82	+0.020%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.30	−0.046%	$386K	$963K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.18	−0.061%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.72	+0.008%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.76	−0.115%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.29	−0.048%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	785.03	−0.080%	$545K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0117%	1h	784.99	−0.085%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0168%	8h	785.67	+0.001%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.59	−0.009%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0216%	8h	785.20	−0.059%	$2.9M	$28.2M	10x	as long as short
Bulk BNB-USD	+0.0231%	1h	784.93	−0.093%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.82	+0.020%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.93	−0.094%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.44	−0.028%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	785.00	−0.085%	$67K	$39K	12x	as long as short