BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0411%/8h= −45.0% APRnext payment −$0.51 per $10,000 · paid last 24h +0.025%

Price spread now: Bulk against Backpack−0.009%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on Backpack Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.190%+$19 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.009%, 7d avg +0.045%

Together, before fees+0.221%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Bulk is 0.054% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.045%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.190%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	807.73	0.0706	pay 0.0088% / 1h	41m 05s	$3.0M	$5.5M	40x
Short	Bulk BNB-USD	807.66	0.0295	get 0.0037% / 1h	41m 05s	$652K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Backpack. 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 BackpackbpFee BulkbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$86.29
Price spread: −0.009% → +0.045%: −$5.41
Slippage, 4 orders: −$0.37
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$109.08
Costs to cover: 0.174%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; Bulk: live order book, 43 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 Backpack live order book, 3 min ago	0.06 bp	5.2 bp −$5	12.3 bp −$123	doesn't fit	doesn't fit
Sell Bulk live order book, 43 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	7.4 bp −$741	16.5 bp −$8,254

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	806.58	−0.142%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	807.49	−0.030%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.21	−0.189%	$3.0M	$29.2M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	807.20	−0.066%	$107K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	806.73	−0.124%	$872K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	806.69	−0.128%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0048%	8h	804.97	−0.341%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0059%	8h	806.90	−0.103%	—	$34.5M	—	as long as short
Hibachi BNB/USDT-P	+0.0080%	1h	805.86	−0.231%	$71K	$48K	12x	as long as short
Bybit BNBUSDT	+0.0083%	8h	806.50	−0.152%	$139.7M	$81.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	806.92	−0.100%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.54	−0.271%	$608K	$881K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	806.71	−0.127%	$1.5M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	807.19	−0.067%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	806.80	−0.115%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	807.40	−0.041%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	806.70	−0.128%	$36.1M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	806.68	−0.130%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	806.52	−0.150%	$78.8M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.39	−0.166%	$4.2M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.49	−0.154%	$162K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	806.72	−0.125%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	806.43	−0.161%	$390K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	806.80	−0.115%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	807.43	−0.038%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	806.85	−0.108%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	807.66	−0.008%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	806.19	−0.191%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	806.77	−0.119%	$388K	$40K	10x	as long as short
Aster BNBUSDT	+0.0107%	8h	807.42	−0.038%	$6.4M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0120%	8h	807.60	−0.016%	$84.8M	$13.4M	200x	as long as short
Binance BNBUSDT	+0.0121%	8h	807.49	−0.030%	$521.6M	$803.5M	75x	as long as short
Phemex BNBUSDT	+0.0131%	8h	807.22	−0.063%	$70.4M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	807.20	−0.066%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0184%	1h	806.70	−0.128%	$397K	$1.0M	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	806.73	−0.124%	$2.5M	$929K	50x	as long as short
dYdX BNB-USD	+0.0207%	1h	806.57	−0.143%	$163K	$63K	10x	as long as short
Hyperliquid BNB	+0.0207%	1h	807.48	−0.031%	$52.0M	$22.1M	10x	as long as short
BloFin BNB-USDT	+0.0241%	8h	807.24	−0.061%	$18.8M	$2.6M	75x	as long as short
Bulk BNB-USDshort	+0.0295%	1h	807.66	−0.009%	$652K	$14K	10x
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	806.95	−0.096%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.327%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	807.26	−0.058%	$1.1M	$1.5M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	806.41	−0.163%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0360%	1h	807.86	+0.016%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERPlong	+0.0706%	1h	807.73	long leg	$3.0M	$5.5M	40x