Binance Futuresvs
Phemex
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
Funding setups between these venues
Across 52 liquid markets shared by Binance Futures and Phemex, the best funding setup over the past 7 days is $ICP (long Phemex, short Binance Futures): it paid 79.4% APR, 67.9% after costs, and held 100% of the time.
52 common liquid markets. Ranked by what the setup actually paid over 7 days after entry and exit costs — not by the instantaneous APR.
Binance FuturesPhemexPhemexBinance Futures“7d avg” is the funding spread the pair actually paid over the last 7 days. “After costs” subtracts taker fees for opening and closing both legs over a 7-day hold. “Holds” is the share of hours the spread kept the same sign and at least 5% APR.
| Binance Futures | Phemex | |
|---|---|---|
| Type | CEX | CEX |
| Taker fee | 0.05%✓ | 0.06% |
| Maker fee | 0.02% | 0.01%✓ |
| Open Interest | $28.64B✓ | $1.09B |
| 24h Volume | $32.01B✓ | $496.7M |
| Avg Funding APR | 15.07% | 5.09% |
| Markets | 539✓ | 120 |
| Airdrop / token | Listed | Listed |
Binance Futures and Phemex are both perpetual-futures venues tracked on ORBIT. On fees, Binance Futures is cheaper (0.05% vs 0.06% taker). On liquidity, Binance Futures is deeper with $28.64B open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely “one or the other” — you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where Binance Futures and Phemex diverge right now, then verify the pair in the backtester.
Frequently asked questions
- Which funding setup between Binance Futures and Phemex pays most?
- Across 52 liquid markets shared by Binance Futures and Phemex, the best funding setup over the past 7 days is $ICP (long Phemex, short Binance Futures): it paid 79.4% APR, 67.9% after costs, and held 100% of the time. Ranking is by the 7-day payout after costs, not by the instantaneous APR.
- Is Binance Futures or Phemex cheaper?
- Binance Futures charges 0.05% taker / 0.02% maker; Phemex charges 0.06% taker / 0.01% maker. Binance Futures has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, Binance Futures or Phemex?
- Binance Futures has $28.64B open interest across 539 markets; Phemex has $1.09B across 120. Binance Futures is deeper, which means lower slippage at size.
- Can I run funding arbitrage between Binance Futures and Phemex?
- Yes — when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.