BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0550%/8h= +60.2% APRnext payment +$0.69 per $10,000 · paid last 24h +0.023%

Price spread now: Backpack against Aevo+0.074%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$860.861% of the position

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now +0.074%, 7d avg +0.043%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Backpack is 0.031% dearer against Aevo than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.043%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.083% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.69 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BNB-PERP	806.85	0.0104	pay 0.0013% / 1h	16m 55s	$388K	$40K	10x
Short	Backpack BNB_USDC_PERP	807.45	0.0654	get 0.0082% / 1h	16m 55s	$3.0M	$5.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.074%Rate

Funding earned: $115.51
Price spread: +0.074% → +0.043%: $3.1
Slippage, 4 orders: −$60.05
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: $32.56
Costs to cover: 0.861%
Break-even: 5.0 days

Slippage from Aevo: live order book, 7 min ago; Backpack: 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 Aevo live order book, 7 min ago	12.10 bp	43.9 bp −$44	52.6 bp −$526	79.9 bp −$7,995	doesn't fit
Sell Backpack live order book, 2 min ago	0.06 bp	5.2 bp −$5	6.3 bp −$63	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 −0.0195% / S +0.0371%	1h	806.59	−0.033%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	807.10	+0.030%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	807.05	+0.024%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	806.80	−0.007%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.62	−0.029%	$872K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.69	−0.021%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	806.58	−0.034%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0050%	8h	805.91	−0.118%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0054%	8h	806.47	−0.048%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0077%	8h	805.96	−0.111%	$139.9M	$82.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	806.90	+0.006%	$610K	$883K	50x	as long as short
Lighter BNB	+0.0096%	1h	806.70	−0.019%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	807.08	+0.028%	$6.4M	$18.8M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.50	−0.044%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	806.91	+0.006%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	806.20	−0.081%	$55.2M	$116.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	807.10	+0.030%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	806.25	−0.075%	$36.1M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	806.26	−0.074%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.93	−0.115%	$79.1M	$24.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	807.34	+0.060%	$4.2M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.58	−0.034%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.56	−0.037%	$115K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.71	−0.018%	$390K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.86	0.000%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	807.35	+0.061%	$14K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	807.22	+0.045%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.84	−0.002%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.37	+0.064%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	805.90	−0.119%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERPlong	+0.0104%	1h	806.85	long leg	$388K	$40K	10x
MEXC BNB_USDT	+0.0114%	8h	807.30	+0.055%	$84.7M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0114%	8h	806.93	+0.009%	$521.4M	$806.1M	75x	as long as short
Phoenix BNB	+0.0125%	1h	806.38	−0.059%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0127%	8h	807.14	+0.035%	$70.4M	$51.8M	50x	as long as short
Hyperliquid BNB	+0.0197%	1h	807.09	+0.029%	$51.9M	$21.4M	10x	as long as short
SoDEX BNB-USD	+0.0206%	1h	806.70	−0.019%	$397K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	806.94	+0.011%	$1.2M	$1.5M	20x	as long as short
Bulk BNB-USD	+0.0217%	1h	806.94	+0.011%	$652K	$11K	10x	as long as short
BloFin BNB-USDT	+0.0234%	8h	807.24	+0.048%	$18.8M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0241%	1h	807.07	+0.026%	$171K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	806.79	−0.008%	$72K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	806.34	−0.063%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	807.47	+0.076%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.244%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERPshort	+0.0654%	1h	807.45	+0.074%	$3.0M	$5.5M	40x