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Funding arb · Price arb /

BNB

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.006%
Price spread now: SunX against Phoenix−0.071%69s7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$720.716% of the position
Long on PhoenixShort on SunX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.177%−$18 on $10k
Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.071%, 7d avg −0.004%
Together, before fees−0.183%−$18 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.068% cheaper against Phoenix than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix BNB785.130.0107pay 0.0013% / 1h28m 12s$169K$35K10x
ShortSunX BNB-USDT784.570.0100get 0.0100% / 8h2h 28m$12K$1.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX 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
−$1.39
Price spread: −0.071% → −0.004%
−$6.76
Slippage, 4 orders
−$56.58
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee SunX: 4 bp × 2 orders
−$8
Net
−$79.73
Costs to cover
0.716%
Break-even
never at this rate
Slippage from Phoenix: live order book, 13 min ago; SunX: live order book, 7 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, 13 min ago1.02 bp12.4 bp −$1250.9 bp −$509doesn't fitdoesn't fit
Sell SunX live order book, 7 min ago17.12 bp23.0 bp −$2338.9 bp −$389doesn't fitdoesn't fit

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 −0.0192% / S +0.0356%1h783.65−0.188%$46K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h785.00−0.017%$4K$4225xas long as short
StandX BNB-USD0.0000%1h785.52+0.050%$847K$3.0M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h783.79−0.171%$9.5M—150xas long as short
Aster BNBUSDT+0.0031%8h784.49−0.082%$6.0M$18.9M200xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.542%$19K$789K30xas long as short
BingX BNB-USDC+0.0041%8h784.15−0.125%—$13.4M—as long as short
Phemex BNBUSDT+0.0052%8h784.45−0.087%$68.6M$50.5M50xas long as short
MEXC BNB_USDT+0.0053%8h785.00−0.017%$79.5M$11.9M200xas long as short
Binance BNBUSDT+0.0054%8h784.57−0.072%$488.7M$809.9M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_BNBUSD+0.0069%1h783.73−0.178%$2.5M$1.2M50xas long as short
Coinbase International BNB-PERP-INTX+0.0080%1h783.79−0.171%$567K$1.9M50xas long as short
Lighter BNB+0.0096%1h784.09−0.132%$2.7M$3.8M20xas long as short
Orderly PERP_BNB_USDC+0.0100%8h783.94−0.152%$264K$489K50xas long as short
Nado BNB-PERP+0.0100%1h783.80−0.169%$1.4M$2.7M20xas long as short
Hyperliquid BNB+0.0100%1h784.59−0.069%$51.3M$17.6M10xas long as short
Pacifica BNB+0.0100%1h784.32−0.103%$1.2M$933K20xas long as short
Bybit BNBUSDT+0.0100%8h783.98−0.146%$137.7M$74.6M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h783.80−0.169%$53.3M$112.1M50xas long as short
Arcus BNB-USD+0.0100%1h784.30−0.106%$52K$129K10xas long as short
Gate BNB_USDT+0.0100%8h784.00−0.144%$36.4M$58.7M75xas long as short
KuCoin BNBUSDTM+0.0100%8h783.58−0.197%$27.5M$10.3M75xas long as short
Bitget BNBUSDT+0.0100%8h783.70−0.182%$75.9M$30.9M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h784.46−0.085%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h784.13−0.128%$4.0M$4.8M—as long as short
edgeX BNBUSDC+0.0100%4h785.38+0.031%$4.1M$75.1M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h785.10−0.004%$158K$439K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h783.80−0.169%$131K$954K10xas long as short
Derive BNB-PERP+0.0100%1h783.98−0.146%$31K$12K10xas long as short
SunX BNB-USDTshort+0.0100%8h784.57−0.071%$12K$1.5M50x
SoDEX BNB-USD+0.0100%1h784.00−0.144%$385K$994K10xas long as short
HTX BNB-USDT+0.0100%8h783.94−0.151%$8.0M$10.0M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h784.39−0.094%$76K$17K50xas long as short
Extended BNB-USD+0.0104%1h783.48−0.210%$1.8M$6.2M50xas long as short
Aevo BNB-PERP+0.0104%1h784.08−0.133%$377K$110K10xas long as short
Phoenix BNBlong+0.0107%1h785.13long leg$169K$35K10x
Kalshi KXBNBPERP+0.0146%8h784.40−0.093%$154K$2.7M4.8xas long as short
dYdX BNB-USD+0.0150%1h784.37−0.097%$159K$61K10xas long as short
BloFin BNB-USDT+0.0174%8h785.33+0.025%$17.7M$2.2M75xas long as short
GRVT BNB_USDT_Perp+0.0206%8h784.96−0.022%$2.9M$29.3M10xas long as short
01 Exchange BNBUSD+0.0288%1h784.74−0.050%$28K$4K10xas long as short
Bulk BNB-USD+0.0298%1h785.69+0.071%$637K$4K10xas long as short
Deribit BNB_USDC-PERPETUAL+0.0300%1h784.32−0.103%$1.5M$143K25xas long as short
Reya BNBRUSDPERP+0.0323%1h783.66−0.187%$6K$3K40xas long as short
RISEx BNB/USDC+0.0432%1h784.37−0.097%$1.1M$909K20xas long as short
Hibachi BNB/USDT-P+0.0496%1h784.92−0.026%$67K$39K12xas long as short