Funding you earn now, next payment 23:00 UTC−0.0027%/8h= −2.9% APRnext payment −$0.03 per $10,000 · paid last 24h −0.010%
Price spread now: Pacifica against Phoenix−0.012%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$350.351% of the position
Funding, last 7 days−0.174%−$17 on $10k
+Price spread, last 3 days (all we have)−0.083%−$8 · spread now −0.012%, 7d avg −0.054%
=Together, before fees−0.257%+ Points / potential airdropPacifica: Active · farm board−$26 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Pacifica is 0.041% dearer against Phoenix than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.054%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.2 days. At the pace of the last 7 days (−0.174% in total) that is about 40 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BNB | 803.03 | 0.0127 | pay 0.0016% / 1h | 49m 23s | $173K | $36K | 10x |
| Short | Pacifica BNB | 802.93 | 0.0100 | get 0.0013% / 1h | 49m 23s | $1.2M | $926K | 20x |
Phoenix BNB
Pacifica BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Pacifica 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
- −$5.61
- Price spread: −0.012% → −0.054%
- $4.14
- Slippage, 4 orders
- −$20.11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Net
- −$36.59
- Costs to cover
- 0.351%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 22 min ago; Pacifica: live order book, 5 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, 22 min ago | 1.00 bp | 12.4 bp −$12 | 50.9 bp −$509 | doesn't fit | doesn't fit |
| Sell Pacifica live order book, 5 min ago | 0.93 bp | 5.3 bp −$5 | doesn't fit | 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 | 802.55 | −0.059% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 802.96 | −0.009% | $4K | $1K | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0074% | 1h | 802.44 | −0.074% | $2.6M | $969K | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 803.04 | +0.001% | $3.0M | $28.1M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 803.66 | +0.078% | $868K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 802.66 | −0.046% | $9.8M | — | 150x | as long as short |
| Variational Omni BNB | +0.0029% | 8h | 802.05 | −0.122% | $4.2M | $5.4M | — | as long as short |
| BingX BNB-USDC | +0.0053% | 8h | 802.67 | −0.045% | — | $13.3M | — | as long as short |
| Bybit BNBUSDT | +0.0064% | 8h | 801.87 | −0.144% | $139.3M | $78.6M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0072% | 1h | 800.72 | −0.288% | $607K | $996K | 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-USDC
Bybit BNBUSDT
Coinbase International BNB-PERP-INTXShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BNB | +0.0096% | 1h | 802.87 | −0.020% | $2.8M | $4.1M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 802.25 | −0.097% | $1.4M | $2.7M | 20x | as long as short |
| Pacifica BNBshort | +0.0100% | 1h | 802.93 | −0.012% | $1.2M | $926K | 20x | |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 801.90 | −0.141% | $54.7M | $113.5M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 803.00 | −0.004% | $53K | $133K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 802.45 | −0.072% | $35.9M | $57.7M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 802.34 | −0.086% | $28.1M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 802.40 | −0.078% | $79.6M | $27.4M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 803.14 | +0.014% | $4.2M | $77.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 802.77 | −0.032% | $162K | $442K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 802.41 | −0.077% | $119K | $874K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 802.27 | −0.095% | $388K | $497K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 802.70 | −0.042% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 803.16 | +0.016% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 802.65 | −0.047% | $8.2M | $7.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 803.24 | +0.026% | $78K | $19K | 50x | as long as short |
| Aster BNBUSDT | +0.0104% | 8h | 803.06 | +0.004% | $6.3M | $19.0M | 200x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 802.10 | −0.116% | $1.9M | $6.4M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 802.83 | −0.024% | $386K | $40K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0113% | 8h | 803.20 | +0.021% | $109K | $2.9M | 4.8x | as long as short |
| Phemex BNBUSDT | +0.0115% | 8h | 803.05 | +0.002% | $70.2M | $51.0M | 50x | as long as short |
| MEXC BNB_USDT | +0.0124% | 8h | 803.40 | +0.046% | $83.5M | $13.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0125% | 8h | 803.00 | −0.004% | $502.2M | $818.0M | 75x | as long as short |
| Phoenix BNBlong | +0.0127% | 1h | 803.03 | long leg | $173K | $36K | 10x | |
| SoDEX BNB-USD | +0.0161% | 1h | 802.60 | −0.054% | $395K | $1.0M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 802.93 | −0.012% | $1.6M | $165K | 25x | as long as short |
| Hibachi BNB/USDT-P | +0.0240% | 1h | 802.77 | −0.032% | $71K | $49K | 12x | as long as short |
| BloFin BNB-USDT | +0.0245% | 8h | 803.43 | +0.050% | $18.2M | $2.6M | 75x | as long as short |
| RISEx BNB/USDC | +0.0258% | 1h | 802.77 | −0.032% | $1.1M | $1.4M | 20x | as long as short |
| Hyperliquid BNB | +0.0262% | 1h | 803.26 | +0.029% | $52.0M | $21.4M | 10x | as long as short |
| Injective BNB/USDC PERP | +0.0306% | 1h | 805.09 | +0.257% | $19K | $789K | 30x | as long as short |
| Bulk BNB-USD | +0.0309% | 1h | 803.58 | +0.068% | $653K | $20K | 10x | as long as short |
| Backpack BNB_USDC_PERP | +0.0325% | 1h | 803.25 | +0.027% | $2.7M | $5.7M | 40x | as long as short |
| Reya BNBRUSDPERP | +0.0332% | 1h | 802.13 | −0.112% | $6K | $3K | 40x | as long as short |
| 01 Exchange BNBUSD | +0.0392% | 1h | 803.31 | +0.035% | $28K | $1K | 10x | as long as short |
| dYdX BNB-USD | +0.0469% | 1h | 802.89 | −0.018% | $162K | $62K | 10x | as long as short |
Lighter BNB
Nado BNB-PERP
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
HTX BNB-USDT
Paradex BNB-USD-PERP
Aster BNBUSDT
Extended BNB-USD
Aevo BNB-PERP
Kalshi KXBNBPERP
Phemex BNBUSDT
MEXC BNB_USDT
Binance BNBUSDT
SoDEX BNB-USD
Deribit BNB_USDC-PERPETUAL
Hibachi BNB/USDT-P
BloFin BNB-USDT
RISEx BNB/USDC
Hyperliquid BNB
Injective BNB/USDC PERP
Bulk BNB-USD
Backpack BNB_USDC_PERP
Reya BNBRUSDPERP
01 Exchange BNBUSD
dYdX BNB-USD